Bitcoin's value against the dollar is up 1,500 percent since January (click to see larger image).
(Credit: Bitcoincharts.com)
Bitcoin got a boost of confidence of sorts today from a group of investors interested in creating a trading platform for the virtual currency phenom.
The decentralized peer-to-peer currency traded as high as $240 per Bitcoin today before closing at $233, up nearly $45 for the day, according to Mt. Gox, the world's largest Bitcoin exchange. Overall, Bitcoin has appreciated more than 1,500 percent since January, a meteoric rise that observers credit largely to financial uncertainty in Europe and nascent investor curiosity.
Coinsetter is hoping to capitalize on that interest with the launch of a Forex trading platform that will allow investors to short the Bitcoin market by using borrowed assets for margin trades -- essentially betting that its value will decline. The New York City-based startup announced today that it had completed a seed round of financing totaling $500,000 led by SecondMarket CEO Barry Silbert and Jimmy Furland, an entrepreneur who has also invested in BitPay, a Bitcoin-based payment service provider.
Coinsetter founder and CEO Jaron Lukasiewicz said the company is focused on creating a secure... [Read more]
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