Well, known cannabis brand High Times declared yesterday that it would acknowledge speculations made with Bitcoin and Ethereum in its coming Initial Public Offering (IPO). The organization intends to utilize the appeal of cryptocurrency to pull in a broader investment pool. There has been a fair amount of merging between the cannabis and cryptocurrency.
As per the press release on Globe Newswire, High Times turns into a first company to acknowledge cryptocurrency investments in a traditional stock offering. Normally, virtual currency investments are limited to the initial coin offering (ICO) market.
Adam Levin, the CEO of High Times commented on the plan to accept Bitcoin and Ethereum,
“High Times has been at the forefront of popular culture for more than four decades. Now we’re taking another step into the future, as not only one of the first cannabis-related brands to go public on the Nasdaq, but also as the first to allow Bitcoin and Ethereum as part of our public capital raise.”
High Times, a cannabis culture media association, documented a Regulation A+ report with the United States Securities and Exchange Commission (SEC). Because of an SEC administer change in 2015, a Regulation A+ empowers little and medium scale organizations to direct IPOs that can pull in equity from the general public investment. As indicated by Levin:
“Beginning with our Reg. A+ crowdfunding, we’ve been focused on giving everyone from retail investors to long-time fans more ways to own a piece of High Times. While we didn’t believe that the ICO process was the right move for our brand, it would’ve been foolish to leave this emerging investor base out as we continue to transform into a diversified media, events and merchandise giant. Cryptocurrencies have created a new investor base across the world – we’re just giving them more stable opportunities for investment.”
High Times aiming to accept Bitcoin and Ethereum in their coming IPO isn’t the primary crossing point for cryptocurrency and cannabis. Most recently, there has been a perceptible merging of the interests of the two enterprises, with cryptographic money tokens intended for the cannabis ecosystem like PotCoin, CannabisCoin, DopeCoin, and so on. Aside from cryptocurrencies, blockchain technology may offer useful advantages to the cannabis supply chain.