Blockchain Global Limited (BGL) has used bitcoin in an AUD$4.35 million investment to acquire a 40% stake in ASX-listed blockchain payments fintech DigitalX.
Details from an announcement today on the Australian Stock Exchange (ASX) reveal DigitalX to receive, in bitcoin, AUD$300,000 in a convertible loan. A further AUD$550,000 will be invested in convertible notes along with AUD$3.8 million in shares.
“DigitalX has received AUD$300,000 by way of a convertible loan in Bitcoin (BTC),” the announcement stated. “The convertible loan is convertible into shares in DigitalX…”
Blockchain Global Limtied (BGL), formerly operating as the Bitcoin Group, began as a bitcoin mining operator before diversifying into a blockchain solutions provider, a corporate incubator and more recently, an ICO specialist. The Bitcoin Group raised AUD$5.9 million and missed out on its target of AUD$20 million following a number of delays to get listed on the ASX itself.
Ultimately, the firm scrapped its efforts to become the world’s first publicly-listed bitcoin miner after the ASX raised liquidity and regulatory concerns.
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