In a recent tweet the Scottish craft beer brewery, BrewDog released that they will now allow investors to use cryptocurrency to partake in their latest crowdfunding cycle.
The crowdfunding project known as ‘Equity for Punks’ will now accept ten cryptocurrencies which include Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), OmiseGO (OMG), Qtum (QTUM), Augur (REP), and 0x (ZRX). This new sales revenue opens a completely new stream for potential shareholders to the growing brewery.
The ‘Equity for Punks’ program was initially launched back in 2010 where investors were able to buy a small stake in the BrewDog company. This was set as an alternative to ‘shares’ where a much larger equity would have been required. Today, however, crypto enthusiasts can now purchase shares for $31 each, a program which has now been extended until April 2020.
BrewDog has followed in the footsteps and is joining a line of traditional but forward-thinking companies in its acceptance of cryptocurrencies. The company have stated that this is a ‘natural next step’ for their organisation and have highlighted that ‘joining forces to link the old and new financial systems is a perfect fit.’
Since inception, the Equity for Punks concept has raised around $90 Million and the firm have over 114,000 registered shareholders. The company’s appetite for ‘crypto’ has been unabated especially as Bitcoin and Bitcoin Cash were both accepted at its Canary Wharf (London) location back in 2018.