Bitstocks tears through £500,000 fundraising target

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Bitstocks has already raised over 160% of its target fundraise amount (£500,000). Beyond blowing through its target amount, Bitstocks is now well on its way to raising £1 million; and is inching closer to the maximum amount raised by any company on the Crowdcube platform. 

If you weren’t able to invest during the early access period or weren’t aware of the public launch date, don’t worry, you still have time to invest in Bitstocks! The Bitstocks crowdfund ends on Monday, February 8th.

Whose investing?

At the moment, over 1,100 investors have participated in the Bitstocks crowdfunding campaign and a total of (roughly) £818,258 has been raised. The two largest groups of investors are 31 – 40-year-olds, which makes up 36% of the total amount invested. The second largest group comes from individuals that ages 18- 30 and they make up 27% of total investment.

“It’s both humbling and satisfying to learn that Millennials, our key demographic, have resonated with our brand mission,” said Bitstocks founder and CEO Michael Hudson. “The Bitstocks team are a group of individuals in the same age categories (Millennials and Gen Z), experiencing the same challenges and actively building towards change. We view it as our collective opportunity and responsibility to create a better financial foundation for the generations that follow.” 

For both age brackets mentioned above, blockchain and digital currency service providers such as Bitstocks solve some of the biggest banking and finance-related problems that they experienced growing up, such as the 2008 financial crisis and the recession that followed it. Both events created distrust in the legacy banking and financial system; that being said, blockchain and digital currency businesses like Bitstocks that are bringing transparency and user empowerment to processes that have historically been closed off is revolutionary.

The benefits of crowdfunding

Crowdfunding has many benefits over alternative fundraising models such as holding an investment round and seeking venture capital. There is typically more value in capital a company raises through people who believe in the company and its mission rather than people whose job it is to make profitable investments professionally. When individuals choose to participate in a company’s crowdfund, it’s because they believe in a company; as a result, they usually encourage others within their network to use the products and services offered by the company they have invested in and it has a beneficial ripple effect for all individuals involved.

Where will the capital go?

The money Bitstocks raises will help them push out a few of the deliverables the Bitstocks team has in the pipeline, such as the launch of the Bitstocks stablecoin, the launch of debit cards linked to users personal accounts, as well as the launch of financial products such as savings accounts and the ability to take out loans.

Are you interested in becoming a Bitstocks shareholder? You can find all the information you need to get up and running on the Bitstocks crowdcube page.