US Winery Raising Capital In Bitcoin
There are many things, big and small, that you can buy in Bitcoin these days. Many businesses want to get their hands on Bitcoin and promote its use. Accepting it as a form of payment is an obvious route. But one US winery is going a step further and raising capital in Bitcoin. It plans to expand its operation with the newfound equity, thereby increasing the return on investment for shareholders that jump on board.
More Than Booze For Bitcoin
Mondo Cellars is a Californian winery that is selling a 30% stake in its operation for Bitcoin. Located on an 80 acre property, it also houses a bed and breakfast, events area and tasting room for visitors. It produces white and red blends and is located in the Paso Robles hills which is home to some 100 wineries.
Mondo Cellars was started by the Mondo brothers, Doug and Mitch, after they visited a friend in Paso Robles and fell in love with the area in the early 1990s. Now they are offering Bitcoiners the chance to get a into the US wine scene. There is no need to buy in online. The brothers are asking investors to come in person, sample some of the vintages and even have a personal tour of the property.
Bitcoin Into Real World Assets
While many pro-Bitcoin businesses are looking at selling their goods for Bitcoin, the Mondo brothers believe that the opportunity lies in allowing Bitcoin investors to diversify their investment into tangible assets. They believe that their winery and its bed and breakfast may be one such asset of interest for Bitcoin investors.
Mondo Cellars is looking at roping in 15 investors to buy a 2% stake each for shares valued at $100,000. Payment in Bitcoin, of course. And they are throwing a few extra perks, beyond the occasional freebie bottle of wine. The cryptocurrency will be used to expand the operation by building structures, planting new vineyards, purchasing inventory and improving infrastructure.
The Mondo brothers are making a bold step in promoting the use of Bitcoin, not only by selling a portion of their asset but also by searching for vendors who will do business in Bitcoin. They are not just sitting with the cryptocurrency idly in a wallet but using it for greater returns for investors and encouraging other businesses to do the same.
It highlights the small yet significant steps made by consumers and businesses in making a Bitcoin world a reality. The Bitcoin revolution has already started as Hollywood actor, Ashton Kutcher stated. And like any revolution, it is the people who take it forward in the face of opposition by those in power.
There is no denying that there are many short term investors in Bitcoin. Those who have jumped aboard the digital currency bandwagon without much interest or faith in the long term potential of cryptocurrencies. The motivation is a quick return or moving their money to another hot pick when it arises.
Mondo Cellars may have opened up a new avenue for investors wanting to jump ship straight from digital currency to tangible assets. Undoubtedly many others will follow suit in time to come. These days capital is limited as the traditional avenues for finance becomes restricted. Businesses wanting to increase equity may find the Bitcoin route is a way to go without searching for private investors through traditional channels or having to meet the stringent regulations for an IPO.