Hong Kong's Richest Man Makes Investment in Bitcoin

While chatter surrounding Bitcoin may have been a little light lately, there's no question the currency is still demanding attention.

The South China Morning Post (SCMP) reported that Hong Kong's richest man, Li Ka-shing, has invested in BitPay, which is considered the digital equivalent of eBay's (Nasdaq: EBAY) PayPal.

One analyst wit Invesco in London commented, Just like investors in days gone by made more money out of selling shovels and picks to gold-diggers than anyone ever made out of the gold mine, he is investing in the peripheral activity that Bitcoin has generated.

The investment was made through Li's venture capital company, Horizons Ventures.

Founded in 2011, BitPay said it handles transactions for 14,000 companies across 200 countries. Half of those are in the U.S., with one-quarter in Europe. There are about 11 million Bitcoin's in circulation.

Bitcoin prices are up following the holiday, last clicking through at about $740.

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