BTCC Was Bought by an Unnamed Hong Kong Enterprise: What Happened?
The founder of BTCC exchange platform, Bobby Lee has announced at Blockchain Week London event, held between 19-26 January that he trusts only four cryptocurrencies. These are: Bitcoin, Bitcoin Cash, Litecoin and Ethereum.
Today, on media, there are circulating information about BTCC being acquired by an unnamed Hong Kong investment fund. The purpose is to spread the platform’s activities internationally. Following the stringent regulations imposed by China against initial coin offering (ICO), BTCC was forced to relocate to survive.
Currently, no official information is known about the amount with which the platform was purchased. A BTCC representative replied that “We currently aren’t releasing the information on the fund nor the amount of resources raised.”
The BTCC platform has mined due to its mining center around $900 million in Bitcoin in 2017 and traded on its exchange over $25 bln of digital currencies.
The founder of BTCC is enthusiastic about this acquisition saying that “Today’s acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I’m very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond”.
The new BTCC’s leaders ensure that the main target will be the international market. The platform now has the necessary resources to implement its long-established goals. Denver Zhao replied that “We now have the resources to realize our vision of a world in which the convenient and trustworthy digital currency services we create get everyone using digital currencies”.
The team is optimistic about the future of the platform. BTCC will focus on mining pools, payments and exchange services. The financial resources invested will raise the company in charts, assures Bobby Lee.
Do you think that this was an optimal decision for BTCC?