After the first round, Blockstream announces the launch of a new Series of its bitcoin-denominated investment product.
Blockstream has announced the launch of the new Series of its investment product, the Blockstream ASIC (BASIC) Note. This decision follows the success of the previous Series 1, which exceeded the $5 million target.
Series 2 will be primarily targeted at non-U.S. investors and will serve as an investment vehicle to enter the Bitcoin ASIC market. The goal is to acquire hardware with the aim of generating returns denominated in bitcoin.
Collaboration between Blockstream and Stokr
To raise capital for this Series 2, Blockstream will collaborate with Stokr, a digital securities platform based in Luxembourg. The company aims to leverage the current low prices of hardware to allow qualified investors to access the Bitcoin ASIC market.
Distribution of funds from Series 1
In Series 1, approximately $4.88 million was allocated to the purchase of high-efficiency ASIC Antminer S19k Pro, while the remaining funds were used to cover operational costs.
Issuance of BASIC Notes
For each product Series, a unique BASIC Note token is issued through the Liquid Network sidechain. The BSIC1 token is still available for peer-to-peer trading via SideSwap, a wallet that supports the Liquid Network.
