Bitcoin Group's shares to be offered to the public
Starting on February 9 2016, The Australian Securities Exchange intends to trade the Bitcoin Group’s shares to the public. The Bitcoin Group will be trading under the BCG handle. At the current time, the company currently operates about 6,000 “mining” rigs across seven countries in the world. The Bitcoin Group want to raise over $20 million – by selling 100 million shares at the price of $0.20 per share at the time of its first public shares round.
The Bitcoin’s speciality to be converted into any currency in the real world, and be reused instantly will probably be the unique selling point of the company. Bitcoin Group’s CEO, Sam Lee, told ZDNet that "Every day more stores are adopting bitcoin as a preferred payment method over systems such as Visa, Mastercard, and PayPal, as merchants don't need to pay any transaction fees to receive bitcoin".
There’ve been many negative cases and issues regarding Bitcoin and the company wants to improve the reputation of the brand to the investors’ perspectives. "Unlike private companies, however, listed companies have a higher level of compliance; audited numbers will assist us in educating people interested in our industry with facts, not fiction," Sam Lee stated.
There are currently many governmental organisations still deciding whether or not to fully accept Bitcoin. The US Commodity Futures Trading Commission (CFTC) is now including cryptocurrency under its jurisdiction, and the US Securities Exchange Commission (SEC) now allows businesses to to trade shares utilising blockchain technology – this is also what the Australian Securities Exchange is doing.
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Source: | Finance Magnates |
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