Aspiring universal digital currency platform BTCS recently announced that it has successfully financed $2.3 million with the board’s participation.
The US-based publicly traded company said in its press release that it sold “7,708,342 units consisting of one share of common stock and 1.4 warrants at a per unit price of $0.30.” It also informed that these warrants are “exercisable into an aggregate of 10,791,684 shares of common stock at a per share price of $0.375,” presumably its highest share value since inception.
Charles Allen, the CEO of BTCS and also one of the top contributors to the aforesaid financing, believed that they are approaching in the right direction to become a leading Bitcoin and blockchain company. While appreciating the whopping amount they have raised, Allen credited Bitcoin’s price decline for being one of the reason why BTCS was able to get hold of business opportunities at first place.
His views, though never elaborated in the press release, somewhat point to the recent expansions and investments BTCS has undertaken. Initially, the company invested in GoCoin, a Bitcoin payment processing company that later partnered with the Internet giant PayPal. BTCS also made strategic investments in Coin Outlet, a company that locates Bitcoin kiosks throughout the US. The company also used the name “Coin Outlet” to rebrand its newly acquired ATM company LibertyX.
These successive go-aheads ultimately resulted into an improved market valuation of BTCS, which is now trading above $31 million. And now with the news of their successful financing closure, the US company is indeed confident about bringing its one-stop-shop digital currency platform to a desired conclusion.