High Times Says Never Hear - Similar A Shot They Won't Convey Bitcoin For Their Ipo...
But because it's even in addition to thence illegal nether federal law, banks won't affect the directly multi-billion dollar cannabis industry. They've resorted to a diverseness of creative solutions, varying from belongings mountains of cash inwards secure locations protected past times armed guards, in addition to of course of report - cryptocurrency.
High Times is best known equally a periodical virtually everything marijuana, but equally the production becomes legal inwards to a greater extent than in addition to to a greater extent than places they're out to bring a larger utilization inwards the industry, in addition to business office of that innovation is doing an IPO in addition to becoming listed on the stock market.
Which is why it wasn't a huge surprise a companionship similar High Times would last the get-go to intend of accepting cryptocurrency inwards their Initial Public Offering (IPO). Today they direct maintain retracted this previous announcement, saying:
"This press unloose was distributed inwards mistake equally the Company volition non last accepting Bitcoin equally payment for shares. As provided inwards the Company’s subscription understanding related to the offering, the Company volition exclusively last accepting check, credit card, ACH or wire transfer equally payment for subscription to shares."
Personally, i'm non buying the "distributed inwards error" excuse - the press unloose that said they would direct maintain cryptocurrency fifty-fifty included quotes from the CEO such as:
"High Times has been at the forefront of pop civilisation for to a greater extent than than 4 decades. Now we’re taking roughly other stride into the future, non exclusively equally 1 of the get-go cannabis-related brands to boot the bucket populace on the Nasdaq but equally good equally the get-go to allow Bitcoin in addition to Ethereum equally business office of our populace upper-case missive of the alphabet raise."
It looks to a greater extent than similar they merely exactly changed their mind. Not to mention, if a press unloose is sent inwards error, the correction doesn't come upward nearly ii weeks later.
While they offered no other reasons, Bitcoin was worth $7400 when they said they'd direct maintain it, today (at fourth dimension of publishing this article) it sits at $6211. To last fair, it's no surprise that volatility scared them away from using it equally a source of funding.
Of course of report the counter declaration would last that when Bitcoin rises 1 time again - High Times may seriously regret this decision.
Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk
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