The Value Of SecondMarket's Bitcoin Trust Just Broke $50 Million

The net asset value of SecondMarket's Bitcoin Trust has surpassed $50 million. As of 4 pm, the fund's assets under management were worth $50.93 million.

The price of Bitcoin on Mt. Gox is now more than $900, and earlier today hit a new all-time high of $950.

This suggests SecondMarket holds more than 55,000 Bitcoins.

Founded in 2004, SecondMarket is an online security brokerage specializing in illiquid assets.

Here's the chart showing net asset value (NAV) and NAV/share.