Scottish Craft Beer Company BrewDog Introduces Initiative To Allow Investors To Buy With Crypto

By Rishma Banerjee

BrewDog, a Scottish craft beer brewery announced in a blog post published on July 4, 2019, that it was to extend its latest crowdfunding to allow investors to buy its shares through cryptocurrencies.

Equity for Punks, which is craft beer brewery BrewDog’s crowdfunding project, in light of the recent crypto bull run, has introduced support for cryptocurrencies to ease the process for investors to purchase company equity. According to the blog post, investors will now be able to buy BrewDog’s shares with as many as ten major cryptocurrencies.

The digital currencies which are to be accepted by BrewDog include bitcoin (BTC), bitcoin cash (BCH), bitcoin SV (BSV), ether (ETH), litecoin (LTC), OmiseGO (OMG), Ripple (XRP), Qtum (QTUM), Augur (REP), and 0x (ZRX).

The Equity for Punks program was introduced back in 2010 in an so as to make it easier for investors to buy a stake in the company in small proportions. The Scottish brand’s initiative enables interested people to buy shares in the company for as low as $31. Now, with the support for cryptocurrencies, the brewery is expecting an increased number of “crypto equity punks” to join its rapidly expanding community.

This crypto initiative has been dubbed by the company as a “natural next step” for BrewDog as a business. The blog post reads in part:

“This is the natural next step for us as a business. James and Martin started BrewDog to be an alternative to the status quo; to challenge perceptions and revolutionise their industry. The developers, miners and users of cryptocurrency are exactly the same. Joining forces to link the old and new financial systems is a perfect fit.”

It’s worth mentioning that other than the crypto announcement, the firm has also extended the Equity for Punks initiative until April 2020, which till date, has helped BrewDog raise a whopping $90 million with over 114,000 registered shareholders. In an attempt to encourage and incentivise people to purchase its shares with cryptocurrencies, the company announced that it would offer six cans of Cryptonite West Coast IPA for “anyone who invests in BrewDog via cryptocurrency.”