BOSTON Feb 28 Fortress Investment Group
said it incurred a $3.7 million paper loss last year on an
investment it made in the virtual currency bitcoin.
In a regulatory filing, the company said it invested $20
million in bitcoin in 2013, and that the stake was worth $16.3
million by the end of the year.
"Fortress recorded $3.7 million in unrealized losses on
digital currency during 2013, which was included in gains
(losses) in the Consolidated Statements of Operations," the
company said in its 10-K filing.
Fortress, one of a handful of publicly traded hedge fund
companies, is one of the first big-name investors to publicly
say it has suffered a loss on its bitcoin investment.
On Friday, Tokyo-based Mt. Gox, once the world's biggest
bitcoin exchange, filed for bankruptcy protection.