First ASX Listed Investment Made In Bitcoin

SilverDJ · Aug 31, 2017

http://www.proactiveinvestors.com.a...on-securing-2m-bitcoin-investment-183136.html

The price of Bitcoin again reached all-time highs overnight climbing over US$4600 per unit.

DigitalX Ltd’s (ASXCC) shares were last trading circa 56% higher intra-day after securing an investment of $2 million in Bitcoin from Blockchain Global Ltd (BGL).

The original investment of $4.35 million by BGL was finalised in June 2017 and this Bitcoin transfer was made following shareholder approval at DigitalX’s general meeting held last week.

Interestingly, the investment through Bitcoin is a first for an ASX listed entity.

DigitalX is a blockchain payment solutions company developing fintech products and services in the mobile bill payments and remittance space.

The $2 million worth of Bitcoin is now held in DigitalX’s multi-signature wallet.

BGL will voluntarily escrow their shareholding for a period of 12 months from the date of issue.

DigitalX has received nominations for the appointment of two directors to the DigitalX board from BGL.

BGL associated investors are currently finalising the balance of the transfer of the investment of circa $2 million, which will be made via a combination of cash and Bitcoin.

When the transfer is completed, DigitalX is expected to have sufficient cash reserves and a low operating expenditure such that the company has no near-term plans to liquidate the Bitcoin for cash.

The price of Bitcoin again reached all-time highs overnight climbing over US$4600 per unit.

The total value of all cryptographic assets is $150 billion today and is expected to soar to $2 trillion over the next 10 years.
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First ASX Listed Investment Made In Bitcoin

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First ASX Listed Investment Made In Bitcoin

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