Cryptocurrency

Blockstack’s Crypto Token Could Provide Investors with a Massive 250,000% Profit

Blockstack’s Crypto Token Could Provide Investors with a Massive 250,000% Profit

Blockstack is a blockchain company that created a decentralized computing network, which was developed by computer scientists from Princeton University. It enables engineers to build secure, privacy-focused applications so that users are in control of their data instead of storing it with large tech companies.

On April 11th it announced that it had filled an application with the US Securities and exchange Commission (SEC). The purpose of the filling was to conduct a $50 million token offering using the SEC Regulation A+ framework. Upon approval, the offering is expected to be the first SEC-qualified token offering of its kind.

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Early Investors 2,500x Profit

It is the intention of the company to sell 295 million stacks tokens. The first tranche of tokens will be sold to community voucher holder at a price of $0.12. There will also be a public sale of 40 million tokens at a price of $0.30.

However, the filing reveals that 24 accredited investors, that include the affiliates of the Harvard Management Company, purchased around 323 million Stacks tokens at a rate of $0.00012 per token.  Given the price of $0.30 per token, the investment would equate to a staggering 2,500 times return!

Profits that Far Exceed Uber’s IPO

It was revealed last week that the San Francisco-based venture capital firm Benchmark, invested $9 million in 2011 for a series-A funding round for Uber. Uber’s expected IPO will be priced at around $55 a share. That means Benchmark’s initial investment of $9 million would soon be valued at $6.9 billion.

The $6.9 billion figure excludes Benchmark’s sale of its $900 million worth of Uber stock to SoftBank, which paid more than $7.7 billion last year for its share of Uber. The result means that Benchmark would receive 766 times return on investment. Many in the finance world would be immensely envious of this return but the investment is massively overshadowed by the 2500 times return when compared with the Blockstack investment.

Image by pasja1000 from Pixabay

Ledger Nano S - The secure hardware wallet