Bitcoin Will Surpass PayPal in US Dollar Transactions, According to BVI Hedge Fund


According to Laureate Trust, Bitcoin is fast establishing itself as the currency to use globally and instantly to make purchases or payments over the internet recording nearly US$300 million daily in transactions.

Beverly Hills, CA — (SBWIRE) — 05/23/2014 — Laureate BVI issued a “speculative” buy rating in February on Bitcoin after it had survived two crashes causing a 70% drop in value within a few months.

Laureate sees the current dip in price at US$522.57 as an opportunity to buy the alternative currency that could increase 50 per cent in price in the near-term as it threatens to overtake PayPal in transactional volume for the first time 2014.

According to http://www.bitcoinwatch.com the daily average of bitcoins trading in US dollar transactions is nearly US$300 million.

CEO Peter Tasca of Laureate Trust states, “Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized. The digital currency works, Bitcoin has greater volume transactions than Western Union and we anticipate it will overtake PayPal later this year.”

“In the next one or two years, Bitcoin can surpass the dollar transaction volumes of other established payment companies including Discover, and even American Express, MasterCard, and Visa,” stated SmartMetric CEO Chaya Hendrick.

PayPal owner Ebay listed Bitcoin merchants Coinbase and BitPay as competitors in the electronic money transfer industry.

Tasca also states, "We’ve seen governments all over the world impose restrictions on the currency and that is good. In a free market economy this creates a safe trading environment and reduces the volatility Bitcoin holders have experienced in the last six months. This digital currency was meant to facilitate the exchange of currency to be spent, not traded.”

Laureate reports, the collapse of Mt. Gox exchange from a theft valued at US$450 million has created new opportunities for digital currency companies. These companies are better financed and have a stronger backbone technologically and are regulated. Bitcoin will continue to stabilize with the introduction of Circle.com a digital custodian that offers a secure network architecture audited by a national cybersecurity firm. We expect to see more companies like this enter this market.

CEO of Circle.com Jeremy Allaire says, “We’re regulated as a money transmitter,” he adds that Circle has created and invested in several layers of audited cybersecurity and accountability that will keep customers’ funds safe.

Peter Tasca states, “Circle.com has some very large backers and we expect them to continue to make tremendous progress in utilization of Bitcoin. I expect in the next 2-3 years we will have the option to have a Bitcoin debit card which is a tremendous opportunity for Circle.com. Globally debit cards account for nearly 30% of all spending, the consumer wants to remove bank processing and currency exchange fees and right now Circle.com is offering the consumer an easy way to use Bitcoin without the risk that is currently associated with the digital currency.”

About Laureate Trust
Laureate Trust provides expert portfolio management that achieves optimal results. The proven trading strategies are based on four principles: diversification, technical analysis, trend following and risk management, which combined have the potential to profit from any economic situation. In 2013 this multiple platform strategy returned +23.01% net of all fees which has outperformed the Barron’s Top 100 Hedge Fund Average, Barclayhedge Fund Index Average and the S&P 500 Total Return Average.

In 2014 Laureate launched a Referral Fee Programme that will pay 2% of the initial deposit and then a management fee for the life of the account. “We want our partners to benefit from every bit of success they help us generate” said Tasca.

General Risk of Trading and Investing
Laureate BVI is a private investment firm that specializes in the management of diversified portfolios. We publish information regarding companies we believe may be of interest to sophisticated investors. However, the information in our release is not intended to be personalized recommendations to buy, hold, or sell securities. Laureate BVI at any given time may hold long/short trading positions in equities, bonds, options, or cash to counter-balance and stabilize the portfolio. Therefore, readers will need to depend on their own mastery of the details of trading and investing in order to handle problematic situations that may arise, including the consultation of their own brokers or advisers as they deem appropriate.

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

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Media Relations Contact

Jacob Charts
Executive Director
Laureate Trust
Telephone: 310-492-5301
Email: Click to Email Jacob Charts
Web: http://www.laureatetrust.com