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   815

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. 

Athena Bitcoin adds Bitcoin Cash to its ATMs

Athena Bitcoin adds support for Bitcoin Cash to their machines
19 February 2018   70

Rising interest in Bitcoin Cash has made a big impact on cryptocurrency market and service providers alike. The rising exchange rates and more widespread support on exchange platforms contributes to the fact. And this can;t be ignored by companies involved in Bitcoin ATM business. They wouldn't want to be left on the side in such a quick-rising market. So Athena Bitcoin took a logical step and added support for Bitcoin Cash to their ATMs.

In the case of Athena Bitcoin, it's an interesting step because of many reasons. The don't plan to drop Bitcoin anytime soon, so it's just an expansion of bases, rather than a complete turnover. Also added support will be interesting to statistics, because Athena's widespread coverage in several US states will allow to see, whether or not BCH is more popular than BTC in some states.

Bitcoin Cash support will also allow for BCH to fiat conversion with two-way machines available in Athena's network. Added competition doesn't thrill Bitcoin Core community, but BCH enthusiasts are quite happy with this situation.

So far Athena Bitcoin is one of the first providers to give such opportunity to the masses, so it would be interesting to see if other ATM networks will follow the example. Decisions like that are always more than a little controversial so we'll have to wait and see if it pays off.