Based

Bitcoin

BASIC

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<ul>
 <li>Following the high demand for its first series, Blockstream is gearing up to launch Series 2 of the Blockstream ASIC (BASIC) Note, a Bitcoin-denominated investment instrument.</li>
 <li>According to Dr. Adam Back, CEO, and co-founder of Blockstream, the response to Series 1 reflects an increasing interest in Bitcoin-focused investments.</li>
 <li>Each series exports a unique set of BASIC Notes through the Liquid Network, a sidechain protocol built on the Bitcoin blockchain.</li>
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<p><strong>Bitcoin infrastructure company Blockstream is preparing to launch the second series of its Bitcoin-based investment instrument following the high demand for the first series!</strong></p>
<h2 id="strong-blockstream-launches-bitcoin-investment-instrument-strong"><strong>Blockstream Launches Bitcoin Investment Instrument</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126548" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Bitcoin infrastructure company Blockstream is gearing up to launch Series 2 of the Blockstream ASIC (BASIC) Note, a Bitcoin-denominated investment instrument, following the high demand for its first series. The Series 1 Note, launched in September, closed with over $5 million, surpassing Blockstream’s target.</p>
<p>Series 2, in collaboration with Luxembourg-based digital securities platform Stokr, aims to target qualified non-U.S. investors looking to evaluate historically low prices for Bitcoin mining hardware or Application-Specific Integrated Circuits (ASICs). Blockstream has not disclosed the target for the second series.</p>
<p>According to Dr. Adam Back, CEO, and co-founder of Blockstream, the response to Series 1 reflects an increasing interest in Bitcoin-focused investments. Back stated:</p>
<blockquote>
 <p>“With Series 2, we aim to leverage this momentum by providing non-U.S. investors with a strategic entry point into the Bitcoin ASIC market through a Bitcoin-based product. Our focus on efficient miner procurement and strong industry relationships positions us uniquely for the upcoming 2024 halving and beyond.”</p>
</blockquote>
<h2 id="strong-focus-on-high-efficiency-asic-miners-strong"><strong>Focus on high-efficiency ASIC miners</strong></h2>
<p>A total of $4.88 million from Series 1 was allocated to the purchase of high-efficiency Antminer S19k Pro ASIC miners using its relationship with wholesale distributor Sunnyside Digital to secure bulk discounts. The remaining funds were set aside to cover costs.</p>
<p>Following the purchase of these miners, there was a 9.25% increase in ASIC prices affected by the rise in Bitcoin prices, and the pricing of ASICs in Bitcoin was still approximately 6.6 times lower than in January, according to Blockstream.</p>
<p>Each series exports a unique set of BASIC Notes through the Liquid Network, a sidechain protocol built on the Bitcoin blockchain. The BSIC1 token can also be used for peer-to-peer swaps through SideSwap, a client of the Liquid Network’s settlement infrastructure.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/blockstream-prepares-to-launch-bitcoin-based-new-investment-instrument/">Blockstream Prepares to Launch Bitcoin Based New Investment Instrument!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Blockstream Prepares to Launch Bitcoin Based New Investment Instrument!

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