Bitcoinz – Feb update
Welcome, new Bitcoin (BTC) holders to the first monthly report tracking the progress of your investment.
Following a short month of revenue raising, our funding goal of AU$2000 – AU$3000 was achieved with a total of AU$2200 investment across 11 members.
Funds were transferred to the Mt Gox Bitcoin exchange on the 5th of Feb (at the cost of AU$22 for the bank transfer).
Funds arrived at Mt Gox a few days later and the total amount was immediately invested into BTC. The transaction looked something like this :
Total investment amount: AU$2142.55
Average BTC purchase value: AU$4.77
Total purchased BTC: 448.294
BTC per member: 40.75
(please note, average purchase cost also include Mt Gox transactional cost)
For the remainder of the month we will simply hold the coins and have a look at what the market does, over the coming weeks I’ll update you on potential strategies around margin lending to increase our total exposure to improving conditions.