Fina V Capital Will Accept Bitcoins (BTC) As Payment, According to Its CEO Keith Gilabert
Advisory firm Fina V Capital will begin accepting Bitcoins as payment joining the over 21,000 merchants and venture capitalist that believe in the ability of the digital currency to revolutionize ecommerce.
February 6, 2014 (Newswire.com) - Fina V Capital will accept Bitcoin (BTC), as payment for its advisory services. The President of Fina V Capital Keith Gilabert states, "We cater to clients from all over the world, we can show value to our clients by avoiding the conversion fees that banks charge. It is important that we do this for both business and philosophical reasons."
Gilabert states, "After several months of reviewing the feasibility of accepting Bitcoins we came to the conclusion that there zero risk. The exchange into USD will be instant and without any party suffering an exchange rate fee, it is a win-win for both parties."
There are currently 178 currencies used around the world. The exchange rates fluctuate quite a bit and the banks processing fees can reach as high as 12% on a single transaction. With Bitcoin you eliminate the banks processing fees and save up to 10% on the transaction.
Fina V Capital's advisory fees range from a flat fee of $25,000.00 to as high as 5% of the contract value. Retailers such as Overstock and Tiger Direct have already processed over $1 million in Bitcoins within the first week.
Because Fina VC caters to entrepreneurs of emerging companies, some of whom want to mine Bitcoins, it fits within our corporate culture, said Gilabert. "Being first in our industry to accept Bitcoins will give us a competitive edge especially on the international community. We have had several inquiries about accepting this digital currency, there are many entrepreneurs that have a lot of value in Bitcoins and are now looking for way to leverage that value into a viable business venture" said Gilabert.
Bitcoins are gaining traction from the demand of businesses and consumers, earlier this month retailers Overstock.com and Tiger Direct started accepting Bitcoins as payment. "This is an important step towards creating a reserve currency that is free of the excessive fees charged by banks and brokers. I expect to see other major retailers announce acceptance of Bitcoins this year," according to Gilabert.
Fina V Capital issued a buy recommendation on the digital currency last month when it was trading at $623.00 per coin. It recently traded as high a $950.00 per coin. Gilabert says, "I would recommend buying this digital currency on dips, this currency is here to stay because it does one thing, it cuts out the government and banking middleman and it allows direct deposits."
Former Facebook executive Chamath Palihapitiya stated, if Bitcoin could establish itself as a "useful reserve currency" it could worth more than $400,000.
According to Gilabert, "The reason People's Bank of China announced that commercial banks in the country could no longer deal in the digital currency Bitcoin was because it undermines their Central Bank. Bitcoin allows a way to securely record transactions without the need for a Central Authority to confirm or verify those transactions. "
"If you take Bitcoins and evaluate it has a standalone trading vehicle it shares the same virtues of gold. Bitcoin is mathematically constrained to 21 million coins, and the supply will grow in a predictable manner as needed " according to Gilabert.
About Fina V Capital
Fina V Capital is a boutique venture capital firm founded by Keith Gilabert. The firm advises mergers and acquisitions, buyer and seller representation, capital planning, financial restructuring, securitization transactions, and credit rating advisory services. Additionally, it offers structuring, target valuation, fixed income and equity offerings management, capital structure analysis, and deal negotiation services.
Target clients range from emerging growth companies led by dedicated entrepreneurs to late-state, established companies seeking cash-flow for expansion. We give our clients access to our contacts of Fortune 500 companies which will add diversity to their product lines and help fuel growth. There are less than a dozen consulting firms worldwide that can offer this level of service.