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Wall Street traders tired of dealing with traditional securities now have another career option, as a San Francisco-based hedge fund has recently advertised a Bitcoin trader job.
That's right, the Bitcoin Gordon Gekko may be right around the corner.
The ad, placed on Jan. 2, details the position of "Junior Bitcoin Execution Trader." The junior trader will "assist with Bitcoin execution, general fund operations, and reporting." Some of the position's responsibilities (taken right from the ad) include:
- Execute Bitcoin trades, both exchange and direct trades with private parties.
- Manage cash balance on a real-time basis.
- Settle Bitcoin trades on a same-day basis.
- Work with investor relations to stay on top of fund subscriptions and redemptions.
- Comfortable working on a volatile, illiquid, and new product.
The hedge fund used the recruiting firm Glocap to place the ad and did not reveal its name or size.
Interestingly, experience with the virtual currency is preferred, but not required. Instead, the candidate must have "strong analytical skills and a baseline understanding of financial markets." Working "odd" hours including weekends, late nights, and early mornings is another caveat of the job.
The Bitcoin trader must also be willing to work with a brand new product without an "industry standard." That speaks to Bitcoin's extreme volatility. Since November, one Bitcoin has gone from a value of approximately $400 to a high of more than $1,200, and back down to approximately $500. Currently, one Bitcoin is valued at $826.
Like any trader position, the Bitcoin trader must thrive in a fast-paced environment and be comfortable working with uncertainty. A bachelor's degree in finance, accounting, economics, or hard science is preferred.
The ad has been edited since its initial posting, and all references to Bitcoin have been removed.
Glocap representative Anthony Keizner told The Street in an e-mail that the post was revised because "we felt on reflection that we'd be able to reach the right people and to assess candidate's interest genuine interest in trading and trading ops the way the posting was written."