Roxom Looks to Capture Bitcoin Treasury Boom With BTC-Denominated Stock Exchange
Main Idea
Bitcoin project Roxom is launching a BTC-denominated stock exchange to facilitate trading of shares in companies with significant bitcoin holdings, following a trend of firms building bitcoin treasuries.
Key Points
1. Roxom is preparing to launch a BTC-denominated stock exchange, aligning with the Bitcoin whitepaper's vision of a global, permissionless store of value.
2. The exchange will allow BTC-denominated trading of shares in companies with substantial bitcoin holdings, such as Strategy and Metaplanet.
3. Publicly-listed firms have been increasingly building bitcoin treasuries, with three companies recently raising $278 million combined for this purpose.
4. Roxom held 84.72 BTC ($9.9 million) as of May and plans to acquire an additional 30 BTC, bringing its treasury value to nearly $13.5 million.
5. Alongside the exchange, Roxom is developing a 24/7 media network and has raised $17.9 million in funding from Draper Associates and Borderless.
Description
Bitcoin project Roxom is preparing to launch a bitcoin (BTC)-denominated stock exchange. Roxom will debut the new exchange in September with a waitlist now open for early access, according to an emailed announcement shared with CoinDesk on Tuesday. The San Francisco-based project said the exchange will "reflect the Bitcoin white paper's original vision of a global, permissionless store of value." The bitcoin treasuries exchange will allow BTC-denominated buying and selling of shares in companies...
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