Moving EUR/CNY to United States for Investment

[Jared Vidales]

Hi All-

I was at the IMN SFR conference a few weeks ago, and a common pain point of private equity firms was the extreme cost to transmit money into the United States. High transfer fee's, high exchange rates, ect.

As an ex-investor in Bitcoin, this “currency” seems like a viable vehicle to make international transfers, in any amount, quick and extremely cheap. As long as the documentation is in place, I don’t see anything wrong with this type of transmission of currency into the US?

For those who are unaware- You can buy bitcoin through regulated platforms such as bitstamp.net. Link your European bank account, and make a bitcoin purchase. Link your US bank account, and simply withdraw the funds in USD, into your US based account.

Besides this being a new concept, am I missing anything here?