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With the world's first Bitcoin IPO around the corner, it might not be long before you can invest in an array of Bitcoin stocks

by , 24 October 2014

By December, we could see the world's first Bitcoin initial public offering (IPO) on the Australian Stock Exchange. This could be the first steps in a wave of other Bitcoin companies listing over the coming years.

So what Bitcoin stocks already have listings? And what stocks look likely to list soon?

Let's take a closer look at what's going on and what this means for Bitcoin…


Bitcoin Group is trying to secure a listing on the Australian Stock Exchange


The Bitcoin IPO in question is Bitcoin Group. It runs a cryptocurrency arbitrage fund. But if its IPO is a success, it plans to expand into Bitcoin mining too.

This would be the first Bitcoin IPO, but it’s not the first Bitcoin stock. The Australian Stock Exchange already houses Bitcoin mining company DigitalBTC. It began trading in June.

In the US, there’s Bitcoin Shop Inc, which trades over the counter. This and DigitalBTC are penny stocks, David Zeiler in Money Morning US explains.

But these companies didn’t list via an IPO. They used reverse takeovers of already-listed companies.

The CEO of Bitcoin Group told The Sydney Morning Herald that they didn’t want to take this route and they only want people who believe in them to invest. He thinks a successful listing will be good for the Bitcoin industry.

If the IPO is a success, this will be a major milestone in Bitcoin’s growth and progress.


Why list the world’s first Bitcoin IPO in Australia?


Even though Bitcoin Group is based in Australia, the country is far ahead in its Bitcoin regulatory progress in comparison to other countries like the US.

At the end of November, the Australian Senate will close its inquiry for Bitcoin regulatory submissions.

If the IPO goes well, the company plans to sell 100 million shares to raise around AU$20 million (R193 million). If this all goes well and the company is in compliance with the exchange’s listing rules, it will list and start trading.


Which Bitcoin companies look likely to list in the future?


Looking to the US, where there are many Bitcoin companies, there are six top candidates for listing.

These are:

  • BitFury: It focuses on designing and selling hardware to mine Bitcoins.
  • BitPay: This is a payment processor.
  • CoinBase: It offers a variety of Bitcoin services, including wallets and payment processing services to merchants.
  • Xapo: It focuses on Bitcoin wallets with increased security.
  • Circle: It takes Bitcoin from its customers and converts to paper currency. On request it converts the cash back to Bitcoin.
  • Blockchain: A Bitcoin wallet company which makes most of its money from advertising.

So there you have it. With the world’s first Bitcoin IPO likely to happen soon, it might not be long before you can invest in an array of Bitcoin stocks.

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With the world's first Bitcoin IPO around the corner, it might not be long before you can invest in an array of Bitcoin stocks
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