Bitcoin News Mash-Up: Companies Teaming Up; Mt. Gox Initiating Bankruptcy Procedures

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Bitcoin News

The following are the major Bitcoin events that took place between May 22nd and 23rd.

BitPay Teams Up with Euro Pacific Precious Metals

The payment processor BitPay recently announced its partnership with Euro Pacific Precious Metals (EPPM), an internationally renowned gold and silver dealer. This company based in New York is directed by Peter Schiff, the well-known economic commentator, author and American stock broker.

“Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers. A wire transfer of fiat funds can be slow and expensive for the customer, and credit card fees are too high to absorb at the low premiums we offer,” said Michael Finger, Director of Marketing at Euro Pacific Precious Metals. “Not only does BitPay’s service make business sense, but we are excited about giving owners of bitcoin the opportunity to inexpensively and reliably convert any excess holdings into precious metals rather than back to fiat currency.”

Meanwhile, Tony Gallippi, BitPay CEO, said: “BitPay is honored to have a role in helping such global and established companies integrate bitcoin into their payment systems.”

Mt. Gox Makes Bankruptcy Proceedings Schedule Public

An update posted on the Mt. Gox website sheds light on some of the dates in relation to the settlement process. The November 28, 2014 would be the deadline for filing bankruptcy. Furthermore, July 23, 2014 will be the day in which the reports on the state of the assets will be presented in the Tokyo courtroom.

There are thousands of users eagerly awaiting for more information – most of them just to know if someday, they will at least see a fraction of the money they lost in the Mt. Gox debacle.

Budweiser and Coinbase Join Hands to Promote Bitcoins

The major beer brewing company Budweiser has teamed up with Coinbase in an initiative to promote Bitcoin in mainstream population. This initiative will involve the distribution of $10 worth Bitcoin to the people who will attend the ongoing Budweiser Made in America (BMIA) series. Existing Bitcoin holders will also be given opportunities to spend their coins on various concession stands.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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