When Venture Capitalists invest in a sector, it’s worth taking notice, so with nearly USD 1 billion invested in Bitcoin, check out this lovely infographic showing why 2016 should be another good year for Bitcoin

33 Signs Bitcoin Growth Isn’t Slowing Down

Despite the hike in US interest rates last year that increased the strength of the US Dollar, it wasn’t the top performing currency.  The winner, showing a whopping 35 per cent gain over the US Dollar, was Bitcoin.  Second was the Israeli Shekel, growing slightly ahead of the US Dollar by 0.3 per cent.

The worst performing currencies were those from countries that were hit by commodity price falls and geo-political strife.  These include Russia, South Africa, Argentina, Brazil and Ukraine, which fell a massive 33.8 per cent in relation to the US Dollar. 

You can see how Bitcoin performed against other currencies.

Why Venture Capital Is Funding Bitcoin

From a tiny USD 2 million invested in Bitcoin 2012, the total amount of venture capital invested in Bitcoin by the end of 2015 was a staggering USD 927 million.  With more than half of this sum being invested in 2015, early signs are that 2016 will continue to see Bitcoin prosper.

Fuelled by venture capital, Bitcoin is quickly establishing itself as a major worldwide currency.  It’s now accepted by more than 100,000 retailers across the globe, including world-class merchants such as Microsoft, Dell, Expedia, Intuit and TimeInc.

Daily Bitcoin transactions currently amount to USD 289 million.  That’s almost as much as Paypal, which averages USD 397 million a day.

Bitcoin And SIPPs

Although it's unlikely your SIPP operator will allow you to hold Bitcoin in your SIPP at the present time, it might not always be the case. With a market capitalisation worth billions of dollars, there's clearly an active market, evidenced by a number of websites quoting the current value of Bitcoin like this one. 

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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets

That's our opinion.  Not just because AJ Bell was the first company to offer an online SIPP.  Nor that it's received many prestigious awards.  And not even because the wife of SIPPclub's Founder has an AJ Bell SIPP.  It's because it's one of the most competitive stockmarket SIPPs on the market. 

Over time, charges can wipe out a huge part of your fund.  We like AJ Bell because there are no set-up costs.  If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund.  And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment).  However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.

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