Bitcoin pundits were intrigued by certain Rothschild Investment Corporation investment in Bitcoin.
However, recent updates come to light that the Rothschild Investment Corporation has no ties with the Rothschild family.
The issue was raised by a netizen after a post on Brian Cohen’s post gained media attention with the perception that the Rothschild family have bought Bitcoin through Bitcoin Investment Trust.
Yann Ranchere reacted to Cohen breaking the news that Rothschild has bought 539 shares from Bitcoin Investment Trust.
Yann Ranchere tweeted:
“Not the [Rothschild] you think”.
He also supplemented it with another update containing a link to a New York Times article detailing how the Rothschild name was conveniently used by other companies to bolster their image and credibility.
Others have also chimed in to help clarify:
The Chicago-based investment firm’s founders are Monroe Rothschild and his brother-in-law Samuel Karger. In the New York Time article which was published on Jan. 15, 1995, Karger explains they didn’t plan on misleading as they never claimed to be affiliated with the Rothschild clan:
“Samuel Lieberman built his reputation as a trader with Chicago-based Rothschild Securities. He was hoping for continuity 11 years ago when starting his own firm. Monroe Rothschild founded Rothschild Securities in 1905. He never claimed a tie to the banking family, said his nephew, Robert S. Karger, the firm's chairman.”
It details that “look-alike or sound-alike names” have created an “instant aura of credibility” which is not new to financial institutions based on state securities regulators. It also added that “new brokerage firms with names that resonate with an illustrious history” may have unintentionally created an opportunity to confuse their investors.
Stanford Z. Rothschild, Baltimore Investment Manager says:
"People take names of high visibility in the hope it will mislead or rub off or infer something that's not really so."
Not only the Rothschilds
But it is not only the Rothschild whose name was taken advantage. NYT article expands that J. J. Morgan & Co. of New York which can be confused with the New York banking company, J.P. Morgan.
Another company that’s victim of “look-alike name” was the A. S. Goldmen & Company which can be confused with Wall Street investment bank Goldman Sachs & Co.