Peter Briger has been one of the titans of the financial world for a number of years. He started out in this industry working for Goldman Sachs where he was a partner. After 15 years at this firm, he joined Fortress Investment Group in 2002. His modus operandi is to buy distressed debt from which remarkable profits can be made. He also invests in real estate and other illiquid investments.
Over the past several years Peter Briger has also been an investor in Bitcoin. In late 2013 he invited executives from the largest American banks, such as Wells Fargo, to a meeting in Fortress Investment Group’s New York City office. He wanted to create the first regulated Bitcoin exchange in the United States. During his pitch, he talked about how Bitcoin allowed people to send money around the world near-instantaneously and at very low cost. After an incident occurred in the world of Bitcoin, Peter Briger pulled back on his investments in this cryptocurrency, but he still thinks it has enormous potential.
Peter Briger says that his interest in Bitcoin was formed in January 2013. He was on a skiing vacation in Canada when one of the guests, Wences Casares, started to explain to the group what Bitcoin was and what it was very useful for. At the time Bitcoin was mainly known as the currency drug dealers used to transfer money around. Wences Casares, though, said it could be much more than that and explained how Bitcoin is a global network where money can be moved around in an instant and more
Moving millions of dollars around between different countries and banks is something that Peter Briger is very familiar with. He caught on how Bitcoin could be very useful in the financial industry, although he was still skeptical of the concept. The more he thought about it, though, and the more he realized that the system for moving money around, especially over national borders, is really broken. It was during this trip that he got involved in Bitcoin and ended up buying $100,000 of it after opening an account on Mt. Gox.