Bitcoin Investment Trust will sell 173k BCC coins

Grayscale Investments, the sponsor of the Bitcoin Investment Trust (BIT), announced a distribution of Bitcoin Cash to their holders of 1,868,700 share
27 October 2017   2845

The investment company Grayscale Investments, standing behind the Bitcoin Investment Trust, announced the sale of 1,868,700 shares denominated in Bitcoin Cash and the further distribution of the funds received among the company's shareholders. This is reported by the TrustNodes.

At the time of announcement, the shares were valued at 0.09258535 BCH, which together is equivalent to 173 014 BCH or $ 57 786 676.

Distribution of funds among shareholders will begin on November 6, 2017 and will last no more than 90 days. Bitcoin Investment Trust will assign commission and administrative expenses to shareholders.

How exactly Grayscale Investments plans to sell Bitcoin Cash, however, is not specified. As stated in the statement of the company Barry Silbert, "Bitcoin Cash is currently traded on many sites."

Bitcoin Cash Price

At the moment of press, average BCC price is $353.41.

Bitcoin Cash price chart
Bitcoin Cash price chart

Bitcoin Cash marketcap is $5,910,443,986  and 24h volume is $335,775,000. 

Bitcoin. com to Acquire O3 Labs

O3 Labs resources will be allocated to the development of mobile app for Bitcoin.com using the Bitcoin Cash protocol
21 October 2019   78

Supported by crypto investor Roger Ver, Bitcoin.com acquired the Japanese blockchain startup O3 Labs, writes The Block. The company refused to disclose the transaction amount.

O3 Labs previously worked on creating applications for the NEO and Ontology blockchain systems. Now its resources will be allocated to the development of mobile applications for Bitcoin.com using the Bitcoin Cash protocol in order to expand support for financial services.

We look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection, regardless of nationality, socioeconomic status, or access to traditional finance.
 

Stefan Rust

CEO, Bitcoin.com

Under the terms of the agreement, O3 Labs employees will join the Bitcoin.com team. What kind of financial services they will develop is unknown. Rust only noted that the firm aims to give users "the ability to manage, grow, and spend [money] ... without the need for traditional banks or financial intermediaries.”

In September, representatives of Bitcoin.com announced that they intend to seek listing of Bitcoin Cash futures on the Chicago Mercantile Exchange (CME).