Jersey has recently announced the setting up of the World’s first Bitcoin investment fund. The fund, known as the Global Advisors Bitcoin Investment Fund (GABI), is a regulated open ended fund and is due to be launched on 1 August 2014 by a Jersey based investment management company. This will not be open to the public.
Bitcoin was founded in 2009 and is a crypto-currency made up of computer code. Bitcoin has a variety of advantages such as;
less intermediaries meaning reduced processing fees
it cannot be counterfeited
less risk of fraud when compared with credit card or bank payments
Jersey already boasts a number of businesses on the island that accept Bitcoin as payment and is being complimented on its expertise which made possible this new investment opportunity.
If you would like to learn more about investment in or establishment of Jersey companies or funds please do not hesitate to contact us by following the link below or call us on our offices Telephone Number: 44 20 7097 1385