Which big-time investors are betting on Bitcoin?

Some well-known investors are bullish on Bitcoin, which might be just the vote of confidence needed for those who are on the fence about the digital currency. 

Chamath Palihapitiya

Venture capitalist Chamath Palihapitiya, a former executive at Facebook, claims to hold about 23,000 Bitcoins, which are worth about $9 million at current rates (and increased in value by about $4 million in the past month).

Palihapitiya has expressed a desire to buy more — to the tune of $10 million — underscoring his confidence in the asset class. However, he isn’t ready to invest in companies that are building around Bitcoin. At least not yet. Palihapitiya’s stance is to own the “underlying commodity,” as he put it, because no one knows what will happen with Bitcoin regulation.

This is a key point, too: Bitcoin-based businesses may have to pivot hard in the face of legislation and controls that governments could put in place. No matter what, though, the currency itself shouldn’t face such abrupt changes, according to Palihapitiya.

The Winklevoss Brothers

Cameron and Tyler Winklevoss — also known for their involvement in Facebook, so to speak — have been incredibly bullish on BTC: Business Insider noted back in the spring that the two own 108,000 Bitcoins, which works out to $45.5 million at current rates. The brothers have also registered a Bitcoin trust with the SEC that would be available to average investors in the stock market. Their holdings offer the twins some security given their investment in BitInstant, a service designed to allow rapid Bitcoin transfers that is facing a class-action lawsuit from frustrated users.

Michael Novogratz

Chief Investment Officer for Fortress Investments Michael Novogratz, who oversees a hedge fund that manages more than $54 billion in assets, has also become bullish on Bitcoin.

He recently told attendees at a UBS Bank conference that “in a few years … it’s going to be worth a lot.” The big difference between now and the bubble in the spring is that investors have much easier access to the digital currency asset class.