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Feb 9, 2014

Bitcoin company offers stock denominated in bitcoin

Posted by in categories: bitcoin, business, finance

By Christopher Mims — Quartz

Startup Bitcoin Kinetics, which aims to create hardware that can allow vending machines to accept bitcoin, is offering 10 billion shares of common stock on the website Cryptostocks. This isn’t your typical IPO—Cryptostocks, where Bitcoin Kinetics will be “listed,” describes itself as both a crowd funding platform and a place to “buy shares… and earn dividends.” It’s not clear what the legal status of Cryptostocks is, since it’s not licensed or registered as an exchange. One commenter called Cryptostocks “another of the play-pretend Bitcoin financial exchanges.” (We reached out to Cryptostocks for comment, and will update this when we hear back from them.)

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