Real-time cryptocurrency
news aggregator

Cryptocurrency cars: Perth Blockchain group invests in exotic rides

Published 1 year ago

Cryptocurrency cars: Perth Blockchain group invests in exotic rides

The Sydney Morning Herald via

A Perth Blockchain start-up is seeking to redefine the way cryptocurrency investors park the value of their digital tokens by investing in exotic cars like Lamborghinis, Ferraris and Bugattis. As Bitcoin itself rides a surge in value with peaks and troughs and crashes coming fast and furious, BitCar is seeking to diversify the range of investments afforded by exotic cars as an investment vehicle..

The idea is that each car will be 'tokenised' and investors will be able to park which can then be traded on said the cars would be stored or displayed for a period of between five and 15 years as they were projected to appreciate in value, and eventually they would be sold and the asset appreciation distributed among token owners. BitCar has been established by Perth-based Ledger Assets, and BitCar's co-founder Gov Van Ek said the idea allowed people to fractionally own parts of an exotic car..

"Exotic cars have been one of the world's best performing asset classes over the past decade, outperforming property and gold. BitCar is giving ordinary people an opportunity to gain exposure to these high-performing assets," Mr Van Ek said..

BitCar is seeking to raise AU$26 million in an Initial Coin Offering (ICO) aimed at cryptocurrency car enthusiasts, and Mr Van Ek said BitCar was working with ASX-listed DigitalX as the corporate advisor for the move. It's the only collectible asset class that can't be faked, which is why we saw it as the lowest risk," Mr van Ek said..

Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full
The Sydney Morning Herald

Summer of bitcoin ending badly as China clamps down on trading - The Sydney Morning Herald

Bitcoin's meteoric summertime surge risks coming to a painful end as Chinese policy makers move to restrict trading amid growing warnings of a market bubble. The biggest cryptocurrency dropped as much ... Read More

8@eight: ASX poised to end losing streak - The Sydney Morning Herald

Inflation surprises: The key macro thematic of the week has been reflation and the US has come to the party and snapped five months of below consensus core CPI prints, delivering a print modestly abov ... Read More

Bitcoin 'is a fraud', says JPMorgan's Jamie Dimon - The Sydney Morning Herald

New York: Bitcoin "is a fraud" and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co , said on Tuesday. Speaking at an investor conference in New York, Dimon said, "The currency isn't ... Read More

'Nobody saw it': Breakthrough claimed by UNSW's quantum computing team - The Sydney Morning Herald

So it was in May 2015, that a trio of researchers at the University of NSW stumbled across the idea of making more room on a silicon atom to squeeze in quantum computer bits – known as qubits – by pul ... Read More