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Regina condo corporation invests in Bitcoin, but experts warn of risks | iNFOnews

Tara Deschamps A sign advertises a Bitcoin automated teller machine, ATM, at a shop in Halifax on Wednesday, February 4, 2020. nbsp; THE CANADIAN PRESS/Andrew Vaughan March 17, 2021 - 11:13 AM A Saskatchewan condo corporation has purchased thousands of dollars worth of bitcoin in hopes of eventually eliminating fees for residents, but experts say such cryptocurrency investments come with risks. Regina-based Thornton Place Condominium Corp. announced Wednesday that it recently bought 0.4 bitcoin for $25,000 through cryptocurrency platform Kraken and has allocated $700 per month for future purchases of the cryptocurrency. The investment made by the corporation behind a 32-unit building on Smith Street amounts to about five per cent of its reserves and six per cent of its monthly operating fund contributions.

Lisa kramerAndrew vaughanHoward ulmerUniversity of torontoThornton place condominium corporationCanadian pressலிசா கிராமர்ஆண்ட்ரூ வாகன்ஹோவர்ட் உள்மெற்பல்கலைக்கழகம் ஆஃப் டொராண்டோதோர்ன்டன் இடம் காண்டோமினியம் நிறுவனம்கனடியன் ப்ரெஸ்

Regina condo corporation invests in Bitcoin, but experts warn of risks - Medicine Hat NewsMedicine Hat News

Regina condo corporation invests in Bitcoin, but experts warn of risks Business Related Too strict A sign advertises a Bitcoin automated teller machine, ATM, at a shop in Halifax on Wednesday, February 4, 2020. nbsp; THE CANADIAN PRESS/Andrew Vaughan REGINA – A Saskatchewan condo corporation has purchased thousands of dollars worth of bitcoin in hopes of eventually eliminating fees for residents, but experts say such cryptocurrency investments come with risks. Regina-based Thornton Place Condominium Corporation says it recently bought 0.4 bitcoin for $25,000 through cryptocurrency platform Kraken and has allocated $700 per month for future purchases of the cryptocurrency. Condo board treasurer Howard Ulmer says the Bitcoin investment idea came from a former board member and was designed to be conservative in order to mitigate risks.

Lisa kramerAndrew vaughanHoward ulmerUniversity of torontoCanadian press onThornton place condominium corporationThe canadian pressCanadian pressலிசா கிராமர்ஆண்ட்ரூ வாகன்ஹோவர்ட் உள்மெற்பல்கலைக்கழகம் ஆஃப் டொராண்டோகனடியன் ப்ரெஸ் ஆன்தோர்ன்டன் இடம் காண்டோமினியம் நிறுவனம்தி கனடியன் ப்ரெஸ்கனடியன் ப்ரெஸ்

Regina-Based Thornton Place Condominium Corporation Invests in Bitcoin

Share this article Share this article Investment through cryptocurrency platform Kraken believed to be the first physical purchase of Bitcoin by a Canadian condominium company REGINA, SK, March 17, 2021 /PRNewswire/ - Thornton Place Condominium Corporation ( Thornton Place ), a Condominium Corporation incorporated pursuant to The Condominium Property Act, 1993 (Saskatchewan), today announced that it has purchased 0.4 bitcoin for its reserve fund with $25,000.00 (CAD) in cash at an average price of approximately $62,500.00 (CAD) per bitcoin, inclusive of fees and expenses. To ensure the security and efficiency of the transaction, Thornton Place worked with the cryptocurrency platform Kraken. This represents the first of an ongoing series of planned purchases, with Thornton Place having allocated an additional $700.00 per month to the purchase of future bitcoin on an ongoing and indefinite basis.

Thornton place condominium corporationCondominium corporationCondominium property actThornton placeReserve fundOperating fundThornton place condominiumPlace condominiumதோர்ன்டன் இடம் காண்டோமினியம் நிறுவனம்காண்டோமினியம் நிறுவனம்காண்டோமினியம் ப்ராபர்டீ நாடகம்தோர்ன்டன் இடம்இருப்பு நிதிஇயங்குகிறது நிதிதோர்ன்டன் இடம் காண்டோமினியம்இடம் காண்டோமினியம்

Regina condo corporation invests in Bitcoin, but experts warn of risks

The investment made by the corporation behind a 32-unit building on Smith Street amounts to about five per cent of its reserves and six per cent of its monthly operating fund contributions. With the value of Bitcoin rising from about $7,000 per coin to roughly $70,000 over the last year, the model may seem tempting to copy, but experts believe condo corporations should think twice because cryptocurrency can be risky. The price is really prone to wild variation and I m sure that the condo association is investing in hopes that the price will go way up. but volatile assets can just as easily go down in value, said Lisa Kramer, a finance professor at the University of Toronto.

Lisa kramerHoward ulmerUniversity of torontoThornton place condominium corporationCanadian pressBusiness financeலிசா கிராமர்ஹோவர்ட் உள்மெற்பல்கலைக்கழகம் ஆஃப் டொராண்டோதோர்ன்டன் இடம் காண்டோமினியம் நிறுவனம்கனடியன் ப்ரெஸ்வணிக நிதி

Regina condo corporation invests in Bitcoin, but experts warn of risks

Regina condo corporation invests in Bitcoin, but experts warn of risks
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Lisa kramerHoward ulmerUniversity of torontoThornton place condominium corporationCanadian pressலிசா கிராமர்ஹோவர்ட் உள்மெற்பல்கலைக்கழகம் ஆஃப் டொராண்டோதோர்ன்டன் இடம் காண்டோமினியம் நிறுவனம்கனடியன் ப்ரெஸ்