Most cryptocurrency enthusiasts will have heard of a company known as Coinsilium. The firm provides blockchain, advisory, and investment services to early-stage technology companies. They have now completed a buyback of their own shares through a mix of cryptocurrency and cash. A remarkable development for the relatively young company.
Coinsilium has quickly become a household name. The firm offers a wide range of services to blockchain startups all over the world. Thanks to their success, the company is also working on buying back its own company shares. Earlier this week, the company purchased 2 million shares at a price of 8 pence each. That in itself is an interesting development, indicating business is booming for the young firm.
A Positive Week for Coinsilium
What makes this development even more interesting is the way the shares were paid for. A mixture of cash and cryptocurrency was used to make the purchase. The cryptocurrencies are owned by its Gibraltar subsidiary, and the cash comes from the company’s reserves. If these shares will be sold in the future, they will not cost more than 9 pence per share either.
Thanks to this purchase, the company’s asset value will exceed its liabilities. That means Coinsilium can pay its debts as they fall due. Very few companies in the blockchain space can effectively turn a small profit. It seems Coinsilium is on the right track to achieving this goal moving forward. It will be interesting to see how all of this will play out in the near future. A positive development like this should not go by unnoticed.
For the time being, it is unclear what the future holds for Coinsilium. The company will keep doing what they do best. Advising and investing in early-stage blockchain startups is always a worthwhile venture. Most of those firms will take years before their ideas turn into viable products, though. It seems Coinsilium has hopped on the train at the exact right time in this regard.
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