On July 23 it was revealed that Rothschild Investment Corporation filed with the SEC their purchasing of $210,000 worth of Bitcoin through the Bitcoin Investment Trust. This is the first 'official' document that shows the world's largest banker family has gotten into the cryptocurrency sphere, and begs the question to those banking on decentralized money whether this is good news in the long run, or bad news for the sector.
It is always interesting to see new faces pop up in the world of Bitcoin and cryptocurrency. In most cases, these are individuals looking to diversify their existing portfolio. However, a SEC document shows the Rothschild family has bought close to US$210,000 worth of Bitcoin recently. Although this is only a small amount, they purchased it through the Bitcoin Investment Trust. An interesting turn of events, to say the least.
Very few people expect families such as the Rothschilds to pay attention to Bitcoin. After all, they are the biggest family in the banking sector today. There would be no incentive for them to pay attention to a banking competitor by any means. Let alone see them buy Bitcoin for an unknown reason. Interestingly enough, that is exactly what happened.
A report on the SEC website confirms this purchase, which is rather significant.
More specifically, the document is filed by Rothschild Investment Corp. In this report, Bradley C. Drake, Executive VP of the company, confirms the company has purchased US$210, 000 worth of Bitcoin through GBTC. Over the past few years, we have seen how the Bitcoin Investment Trust continues to make media headlines. Now that the group is on the radar of the Rothschild family, things will get a lot more interesting. The amount is rather small, though, which leaves a lot of room for speculation. - Live Bitcoin News
Obviously no one really knows if this purchase by Rothschild is just a speculative investment as the price is expected to move higher as global currencies shift away from the dollar, or if there is some other scheme in place since the banking cartel relies heavily upon the control of debt based sovereign currencies to siphon wealth away from the masses. Either way, one could say that Bitcoin has now hit the mainstream with the entry of the Rothschilds into the game, and for holders of the cryptocurrency looking for higher prices this in the short-term appears to be a very good sign.