BrewDog Offers Its Shares In Return For Cryptocurrencies As Payment
BrewDog, a Scottish brewery and pub chain, has widened its recent crowd funding program to permit investors to purchase in the form of cryptocurrencies.
The information was revealed by a tweet by the company. Ellon, United Kingdom-based BrewDog’s crowd funding venture, named “Equity for Punks” now admits cryptocurrencies from investors who wish to become a shareholder.
A recent blog post made by the company reveal that it accepts ten cryptos namely Bitcoin (BTC), Bitcoin cash (BCH), Bitcoin SV (BSV), OmiseGO (OMG), Litecoin (LTC), Ether (ETH), Ripple (XRP), Qtum (QTUM), Augur (REP), and 0x (ZRX).
Introduced in 2010, Equity for Punks scheme permits investors to own a small stake in the enterprise, offering a substitute to shares that necessitate a “huge amount of cash.” Presently, interested investors can buy BrewDog’s shares by paying the equivalent of 25 GBP (~$31) in crypto to become a crypto “equity punk.”
In addition to the crypto announcement, the enterprise has also decided to continue with the program until April 2020.
BrewDog points out that measures related to cryptocurrency take by the company is the obvious “next step” as a business establishment, asserting that “joining forces to link the old and new financial systems is a perfect fit.”
From the date of launch, Equity for Punks has overall amassed 72.20 million British Pounds ($90 million). More than 114,000 investors have enrolled themselves as shareholders, as per BrewDog’s website.
To promote program and encourage investment via cryptocurrencies, BrewDog rewards investors with six cans of Cryptonite West Coast IPA whenever an investor visits BrewDog and becomes a shareholder by paying with cryptocurrencies.
Notably, this is not the first crypto related initiative undertaken by the company. In late 2018, BrewDog unveiled a new pub at London’s Canary Wharf where Bitcoin and Bitcoin Cash is accepted as payments.