Bloomberg/Businessweek.comm, just published a piece on the hip-hop artist known as Pitbull, one of our South Florida celebs and his business ventures outside of the music world.
According to the article Pitbull’s attorney is trying to get his client Pitbull to possibly invest in Bitcoin and are looking forward to a meeting none other than Merlin Kaufman, who in addition to being a world-class domain investor is running a Bitcoin Fund:
“Zigel slides over a stack of articles about Bitcoin and mentions a possible sitdown with Merlin Kauffman, who runs a $7.5 million Bitcoin investment fund focused on the hardware that runs the currency.
Pitbull flips through the pages quickly, not displaying much interest.
“I still want to know, what exactly is Bitcoin?” Pitbull says. “How real is it? Is it going to be adopted and be disruptive?”
“The people who are going to adopt it are young,” Zigel replies. “If it’s something they decide they want to do, it’s going to be a force to be reckoned with.”
“What makes this real money?”
Zigel, looking unsure, glances quickly at the articles Pitbull has shoved back toward him. “It’s very speculative right now,” he says. “There’s nothing that’s holding it together.”
Pitbull is dubious. “No gold, no nothing?”
“No banks behind it, no.”
There are many people into the Bitcoin thing, as investors, miners, traders, market makers and otherwise
Many of them have ties to the domain community, which is why you see number or articles about Bitcoin and other crypto currencies on TheDomains.com
Of all the Bitcoin movers an shakers out there its pretty amazing that Pitbull’s attorney names someone in the domain community on the first page of the five-page story.
That valuation was based on a $1200 BTC, which currently trades at $650. Pitbull is diversifying his investments, which is what everyone should be doing.
Without public education, bitcoins, premium domains, new gTLDs etc is like placing pearls before swine. No appreciation.
One could argue that public education for bitcoin is occurring organically as more major retailers begin accepting it as payment. So at least there’s a chance for it. New gTLDs on the other hand…
Pitbull’s bigger problem is getting financial advice from his lawyer.