Bitcoin Group Limited (BCG) will be listing on the ASX at $0.20/share in the next few weeks and are hoping to raise $20m to fund bitcoin mining activities.
I'm tipping this to be a total bloodbath for the following reasons:
1) There are a number of risks both internally and externally (e.g. inexperience of directors and bitcoin price swings).
2) Bitcoin is still a long way from being mainstream and thus will be largely avoided by mum and pop investors.
3) For people who are familiar with Bitcoin it's much easier to buy the coins directly if you believe that bitcoin will be a success.
Expect the price to drop to $0.15 after a month and $0.10 after 12 months.
I'm tipping this to be a total bloodbath for the following reasons:
1) There are a number of risks both internally and externally (e.g. inexperience of directors and bitcoin price swings).
2) Bitcoin is still a long way from being mainstream and thus will be largely avoided by mum and pop investors.
3) For people who are familiar with Bitcoin it's much easier to buy the coins directly if you believe that bitcoin will be a success.
Expect the price to drop to $0.15 after a month and $0.10 after 12 months.