BTC Wires

Cannabis-Related Magazine High Times Announces It Will Accept Cryptocurrency During Its IPO

BTC Wires: A rather well-known and popular publication based in New York, High Times, is going to be the first stock offering to accept digital currency or cryptocurrency during its Initial Public Offering (IPO). High Times has often found itself making headlines with its staunch support and even advocacy for cannabis usage but this time its bold move has pushed the envelope even further. It has become the pioneering firm to be open to taking cryptocurrency payments for its first public offering and it seems that just like the loyalists of this publication, crypto’s adoption and appeal could also reach a new high.

Chief Executive Officer of the firm, Adam Levin commented that High Times has always been in sync with the times by responding to the needs of popular culture (or counterculture) and maintaining a youth appeal for over 40 years. This move is nothing but a reassertion of their willingness and receptiveness to new things such as cryptocurrencies. Dubbing the move as being a “step into the future”, Levin said that the magazine is confident in its bid to become the first ever firm dealing with marijuana to go public on the Nasdaq as well as the first IPO allowing coins such as Ethereum and Bitcoin for its first attempt to raise public capital.

The IPO is in full compliance with Regulation A+ of the Securities and Exchange Commission (SEC) and has started accepting investments via crypto. Regulation A+ opens up an IPO to a larger number of people by allowing accessible crowdfunding sans any limitations on accepting just wealthy accredited investors.

The Regulation A+ report filed by the magazine has revealed a $29 million decrease in negative equity and a substantial fall in costs of operation and debts. This has made sure of the SEC’s green signal by reflecting a strong position and ability to start selling securities.

The magazine sees virtual currency as a futuristic form of economy that will only grow with the times and Levin himself has remarked that since the Regulation A+ form allows accessible crowdfunding, it is only natural that the company allows the public to use their investable currency of choice.

This development is interesting to say the least since we are seeing two aberrations from the usual come together to lead the industry towards a more bold and experimental future, and to upturn existing notions about cannabis use or crypto investments, both unusual fields by themselves.