Palm Beach Discussion Group Invests in Single Bitcoin

(Palm Beach Daily News) Will 10 sophisticated Palm Beach high-rollers get taken to the cleaners by testing the waters on a $1,150 Bitcoin investment?

The group — including such notables as Toys “R” Us founder George Lazarus and McDonald’s entrepreneur George Cohon — belong to the Food for Thought discussion group that meets biweekly at The Mar-a-Lago Club. They say they invested in a single Bitcoin at market price on Dec. 4.

They bought the digital coin from a San Francisco online vendor, Coinbase, at a price that included about $20 in transaction fees.