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Laureate BVI, "Will Bitcoins Replace the Pound and Euro?"

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2013-12-22 20:02:25 - According to CEO Peter Tasca of Laureate,” Boitcoins must be accepted by others in trade for something of value without the backing of global currencies or else Bitcoins will collapse.”

The value of Bitcoin (BTC), a virtual currency has been on a wild roller coaster ride since it started attracting venture firms such as Laureate BVI, SV Angel, Winklevoss, and internet heavy weight firm Andressen Horowitz.

What is a Bitcoin? A Bitcoin is basically an address on the internet, and you need a private encryption key in order to spend them. Bitcoins, which only exist as software aren’t regulated by any country or banking authority. The currency has had interest from investors worldwide and merchants are starting to accept Bitcoins as payments.

On December 5th, the People’s Bank of China announced that commercial banks in the country could no longer deal in the digital currency Bitcoin. Prices of Bitcoin plummeted

worldwide by as much as 50%, putting an end to arbitrage trading with the Chinese Yuan (CNY), where opportunistic investors capitalize on the value differences between BTC, USD, and Yuan.

According to Peter Tasca, CEO of Laureate BVI, the halt by the Chinese means that a huge source of liquidity and purchasing has been eliminated from Bitcoins. It is estimated by Bobby Lee, Chief Executive of BTC China, that the exchange has accounted for as much as one-third of world-wide trading volume.

Winklevoss Capital, headed by Cameron and Tyler Winklevoss who came up with the idea that that gave Mark Zuckerberg the inspiration of Facebook, stated that Bitcoin could achieve a market value of $400 Billion.

Reuters reported, if you take the M2 money supply of the USA and apply it to the 21 million Bitcoins and they become accepted currency, in theory you could have a $524,000.00 coin.

Tasca states, “For sophisticated investors that understand risks of virtual currencies Bitcoin is a great trading vehicle because it is extremely volatile. For common investors it is not recommended they invest in Bitcoins without properly hedging their positions.”

According to Tasca of Laureate BVI which has returned 22% in net profits for 2013, “the value of Bitcoins could sky rocket if it became a real alternative to currency but they must be accepted by others in trade for something of value without the backing of global currencies or else Bitcoins will collapse.”

Another way to monetize virtual currencies is now through trading within cryptocurrencies. Right now there are currently 54 digital currency values listed on A trader will swap one currency for another scalping profits, as virtual currencies become more widely accepted this could be an alternative to trading stocks.

Tasca warns, “Bitcoins were not created as a for profit investment vehicle, Bitcoins are meant to be spent. It was intended as a way to avoid the hefty currency conversion fees of banks and credit card processors.”

For more information on investing with Laureate Trust, contact Private Client Group +1-310-492-5301.

Press Information:
Laureate Trust

468 North Camden Drive
Beverly Hills, CA 90210

Contact Person:
Jacob Charts
Executive Director
Phone: +1-310-492-5301
email: email


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