Investors late to Bitcoin’s newest stratospheric surge should have been watching emerging markets, according to one investment firm that made a bet on the currency some two months ago.
ARK Investment Management, which oversees the first exchange-traded fund with exposure to the virtual currency, has almost doubled its money since investing in September, when currency volatility in developing economies touched a more than three-year high. Bitcoin rose beyond $500 for the first time in more than a year on the Bitstamp exchange this week, up from $230 at the end of August.
