WSJ Reporting of $200 Million Investment in Bitcoin Not True

NASSAU, Bahamas, Aug 05, 2013 (GLOBE NEWSWIRE via COMTEX) — Noted private investor and trader Joe Lewis is not backing any Bitcoin ventures, as previously reported today.

“I have no investments whatsoever in any Bitcoin ventures,” said Lewis.

A story widely reported in several publications inaccurately stated that Lewis is supporting the virtual currency through Phoenix Fund, a fund with no affiliation to Lewis or Tavistock Group.

“Unfortunately, many immature investments and investors would like the association of private investors like Joe Lewis. They bring instant credibility,” said Douglas McMahon, senior managing director of Tavistock Group, a private investment organization founded by Lewis.

“‘Our’ Joe Lewis has nothing do with Bitcoin, Phoenix Funds or Andrew Laurus,” said McMahon.

Tavistock Group is Lewis’ primary investment vehicle and includes a portfolio of more than 200 companies across 15 countries.

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