Investors in Blockstack may make over 2,000 according to a new filing

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Investors in Blockstack may make over 2,000 according to a new filing
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Similar to the start of cryptocurrencies with Bitcoin (BTC), early investors of the Blockstack project may be seeing a massive return pretty soon.

Planning Ahead

This Thursday, it was revealed that Blockstack, a decentralized “ecosystem that gives your users control over their fundamental digital rights,” will soon begin a $50 million token offering. The fundraiser will take place under the Securities and Exchange Commission’s (SEC) “Regulation A+” framework. That and Blockstack will giveaway its token, Stacks (STX), in a few different ways.

To start the project will sell 215 million Stacks tokens at the price of $0.12 per for those who bought its early token vouchers. Then 40 million tokens will sell at $0.30 for “qualified purchases,” essentially big investors that put in over $5 million by themselves of brought in $25 million of outside funding. Finally. they’re offering 40 million tokens as part of the project’s “App Mining” project.

But, on page 118 of the group’s filing, the document states that around 323 million tokens were sold to “24 accredited investors that were shareholders of Blockstack PBC at $0.00012 per token”. This $0.00012 price point was provided by the Foresight Valuation Group, who helps to consult different blockchain projects.

Delivering on their promise

What’s crazy about this is Blockstack has been around the industry. They know what they’re doing, and it’s likely that this offering will succeed. In November, the group had a small offering for early holders. Now, with this official offering, they could raise the price of their tokens by much more.

In fact, the publication reports that those who held on to their early investments may make a significant profit. The calculations say 1000 times an investment on $0.12 cents a token, or 2000x at $0.30 a token.

In a blog post, the company claims that this token offering will be “the first SEC-qualified token offering of its kind”. All funds will go towards improving Blockstack as a platform and ensuring it can deliver on promises.

Potential investors can buy Stacks on the stackstoken website. Otherwise, the company will reach out to voucher holders soon.

[via The Block]

About Max Moeller

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Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/