Some well-known investors are bullish on Bitcoin, which might be simply the vote of confidence needed for those who are on the fence about the digital currency.

Chamath Palihapitiya

Venture capitalist Chamath Palihapitiya, a onetime executive at Facebook, claims to hold most 23,000 Bitcoins, which are worth near $9 million at current rates (and increased in value by about $4 one thousand thousand in the past month).

Palihapitiya has expressed a want to buy more — to the tune of $x million — underscoring his confidence in the asset form. Yet, he isn't ready to invest in companies that are building around Bitcoin. At least not all the same. Palihapitiya's stance is to own the "underlying article," as he put it, because no 1 knows what will happen with Bitcoin regulation.

This is a key point, as well: Bitcoin-based businesses may have to pivot hard in the face of legislation and controls that governments could put in identify. No matter what, though, the currency itself shouldn't confront such abrupt changes, according to Palihapitiya.

The Winklevoss Brothers

Cameron and Tyler Winklevoss — also known for their involvement in Facebook, so to speak — have been incredibly bullish on BTC: Business organization Insider noted back in the spring that the 2 own 108,000 Bitcoins, which works out to $45.5 million at current rates. The brothers have also registered a Bitcoin trust with the SEC that would exist available to average investors in the stock market. Their holdings offer the twins some security given their investment in BitInstant, a service designed to allow rapid Bitcoin transfers that is facing a class-action lawsuit from frustrated users.

Michael Novogratz

Primary Investment Officeholder for Fortress Investments Michael Novogratz, who oversees a hedge fund that manages more $54 billion in assets, has also become bullish on Bitcoin.

He recently told attendees at a UBS Banking concern conference that "in a few years … information technology'due south going to exist worth a lot." The big difference between now and the bubble in the spring is that investors have much easier admission to the digital currency asset class.