BitcoinShop.US Goes Public and Raises Nearly $2 Million

Journalist:
Kyle Torpey @kyletorpey
February 8, 2014
BitcoinShop.US is expanding with new investment.

BitcoinShop.US has announced $1.875 million in new investments, and they’re also merging with Bitcoin Shop, Inc. The idea behind this expansion is that it will allow the online retailer to find new brands and products to sell in their online store, which already sells most of the popular consumer goods that people want to see when shopping online. With new competition in the Bitcoin space from Overstock and TigerDirect, it’s important for one of the biggest Bitcoin-centric retail stores to step up with real money behind it.

Going Public

BitcoinShop.US is now the first publicly traded Bitcoin-centric company, which is a huge milestone in its own right. Although the company is currently traded over the counter, BitcoinShop.US could carve out a nice piece of the online retail market if more companies don’t embrace Bitcoin over the next few months. The online store has setup a section of their website solely for the purpose of investor relations, and they are trying to be as transparent as possible when it comes to the current status and future potential of the company. Most people would expect an exchange, such as Coinbase, to be the first public Bitcoin company, but it looks like BitcoinShop will be the one grabbing all the headlines.

A Surprisingly Solid Inventory

Most people are waiting for someone like Amazon to accept Bitcoin, but the reality is that BitcoinShop.US will probably have you covered for most of your online shopping needs. One of the main drawbacks of BitcoinStore.com, the original Bitcoin-accepting online store, was that it didn’t really sell everything that an average consumer would want to purchase. At BitcoinShop.US, you can get everything from coffee to Nexus tablets and everything in-between. The plan is to go after the average online consumer with this site, and they’ll be able to expand on that idea as they bring in new brands over the next few months. We’ve been long-time supporters of this online retail store, so we’re looking forward to this next phase of growth for their company. Don’t forget that you can get 10% anything you buy at BitcoinShop.US when you use our promo code: CRYPTO10OFF

Last modified (UTC): February 9, 2014 19:56

Kyle Torpey @kyletorpey

Kyle is a freelance Bitcoin writer and the Marketing Director for Bitcloud. His work has been featured on Business Insider, VICE Motherboard, Let's Talk Bitcoin, and RT's Keiser Report . You can follow him on Twitter (@kyletorpey) or send him an email.