Calling it DigitalBTC, the Perth-based, Russian-born tech multi-millionaire Zhenya Tsvetnenko is all set to launch his new Bitcoin mining and digital currency trading company. The local reports claim that with the latest decision, Mr. Tsvetnenko is trying to make his ASX debut after a successful venture in mobile premium messaging services.
Mr. Tsvetnenko will be taking the position of executive chairman of the new entity. Talking to media professionals he said that as the Bitcoin system matures beyond its initial niche and begins to realize its true disruptive potential, sophisticated service firms will be increasingly required to facilitate the system.
Bitcoin, a digital currency which has recently been in the news for all good and bad reasons, thus, getting a new venture capitalist. Mr. Tsvetnenko expects that his decision to venture into the digital currency will pay him well. He said that he believes that sophisticated intermediaries such as DigitalBTC can derive significant profit in supporting this emerging growth phase of Bitcoin.
He believes that his company will take the Bitcoin technology to new levels and make it popular worldwide. Mr. Tsvetnenko looked pleased when he announced that the acquisition deal with Macro will give help in getting the platform and capital that ultimately help in the growth of the Bitcoin system.
Mr. Tsvetnenko is of the opinion that the investment will auger well for Bitcoin as it will help in offering public market investors one of the first opportunities to participate in the potential upside inherent in Bitcoin. On the other hand, ASX-listed shell company Macro Energy said that it received firm commitments for a $9.1 million capital.
The company said that the amount will be used for expanding DigitalBTC’s Bitcoin trading and digital currency mobile applications. The much needed capital will help the company expand its reach and further help Mr. Tsvetnenko, who made his debut on the BRW Young Rich List in 2009 with an estimated net worth of $107 million.
The deal is a win-win situation for both companies as according to Macro Energy managing director Brett Lawrence DigitalBTC offered existing Macro shareholders significant potential upside in a fast growing and revolutionary sector. The acquisition will mean that Macro will have to change its name to DigitalCC Limited.
The next step for the company would be to conduct a share consolidation. The best part of the deal was that when the news of acquisition came in Macro Energy shares went up 1.4 cents, or 54 per cent in early morning trade.
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