A protuberant New York publication supporting the use of cannabis – High Times, is setting new records in the digital currency space by accepting digital currency during its initial public offering (IPO), and it is reportedly the first ever stock offering to ride on this path.
The CEO’s Comment
Adam Levin – the CEO of High Times said that the firm has been at the front end of popular culture for over forty years. Now they are taking another step further, not only as one of the first cannabis-related firms to go public on Nasdaq but also as the first firm to accept Ethereum (ETH) and Bitcoin (BTC) as part of their public capital raise – he said.
The public offering is in compliance with the SEC Regulation A+ and it has already started taking in digital currency investments. Regulation A+ allows for accessible crowdfunding without being available to only wealthy accredited investors, this opens the offering up to more people.
The CEO also said that digital currencies have created a new base of investment in the world, and High Times is just giving them more stable investment opportunities. Saying that with the Regulation A+ crowdfunding of the firm, they’ve been focused on providing everyone more ways to own a piece of the firm.
Levi said while they did not believe that the Initial Coin Offering process was the right path to take for the firm, it wouldn’t have been wise to leave this emerging base of investors as they continue to evolve into a diversified media, merchandise and events giant.
Ethereum (ETH) Price Today – BTC / USD
At the time of writing, Ethereum (ETH) is trading at $418 after an increase of 2.2 percent over the past twenty-four hours. The market cap of the digital currency is $42.19 billion and its trading volume over the past twenty-four hours is $1.53 billion.