SCOOP NZ | PressCoin ICO to Take Precautions to Protect Investor Funds

PressCoin ICO to Take Precautions to Protect Investor Funds as Bitcoin Hits USD$19000

PressCoin PLC is advising investors it will take stringent precautions during its upcoming ICO to protect the real-world value of their investment in PressCoin (NEWS). The advisory comes as the price of BitCoin (BTC) breaks through the USD$15,000 mark (and briefly topped USD$19,000), barely a week after it broke through the USD$10,000 mark.

“While such an over-cooked BTC market will make it cheaper for people who are holding BTC to invest in the PressCoin ICO, we will be taking precautions to ensure that when the dust settles we have all the investment funds we receive available for us to build the technologies which we describe in our White Paper,” PressCoin PLC. director Amit Rathore said today.

PressCoin PLC, a UK based company, is launching an Initial Coin Offering (ICO) on Monday 11 December seeking to raise USD$100 million to build a “crypto-economy for an Independent Press”.

A wave of Initial Coin Offerings in the second half of 2017, a handful of which are like PressCoin – i.e. raising money to build traditional start-up technology businesses - is thought to be one of the factors behind the meteoric rise in Bitcoin.

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Amit Rathore