Bitcoin Group’s IPO on the Australian Stock Exchange

Journalist:
October 14, 2014
Allan Guo (left), Sam Lee (right) and Bitcoin Group

Bitcoin Group is to be listed on the Australian Stock Exchange in mid-November, becoming the world’s first publically floated Bitcoin trading company.

Following the positive guidance from the Australian Tax Office on the treatment of Digital Currencies, Bitcoin Group will be the first Bitcoin company on the Australian Stock Exchange, in the world’s first official Bitcoin IPO listing. No other Bitcoin company has been publically traded in Australia, or any global stock exchange.

Bitcoin Group’s earliest investor, self-made billionaire Mr. Gao made his fortunes manufacturing, supplying and fitting fire safety systems throughout major metropolitan cities in China. Cryptocurrency arbitrage fund Bitcoins Reserve have in motion to be the world’s first official Bitcoin IPO listing.

CEO of Bitcoins Reserve and Bitcoin Group Sam Lee said:

“Investors who participate in our 20 million dollar capital raising will capture a substantial share of what will be a Billion dollar-a-year industry. The main revenue model of Bitcoin Group is through “mining”, which is a process of verifying transactions between users, effectively acting as a clearing house.This work done is rewarded with newly unlocked Bitcoins that can then be sold for other currencies on the open market.”

“We manage risk through operating a vertically integrated mining business with the financial and strategic backing of all major players in the Bitcoin Mining industry. We believe we are well priced and positioned to help investors profit in what still is the most profitable segment within the Bitcoin ecosystem.”

“Over the next two years, the system is set to issue 1.3 Million bitcoins per year and at current market value ($446 AUD per Bitcoin) this is equivalent to a $580 million dollar per year opportunity.”

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Images from Bitcoin Group and Shutterstock.

Last modified (UTC): October 14, 2014 11:56

Giulio Prisco @giulioprisco

Science writer, software developer, Bitcoin/crypto enthusiast.