Could BKD Be Worth More Than Bitcoin One Day
I’m sure that almost everyone who regularly invests in public companies has, at some point, found a private company that they wish they could invest in.
This month saw the launch of a new platform that aims to solve that problem. Backed allows anyone to speculate on the future of private companies by buying and selling their company coin.
Company coins are reputational based coins that go up and down in price based on the number of coins in circulation. Like stocks and shares, the price is determined by demand and increases as more people buy in.
Right now on the platform, you can buy the coins of companies such as Twitch, TikTok, SpaceX, Discord, some of which are up 10x in the past month despite the bear market. “For too long, speculating on the next big startup has been reserved for a select number of Angel Investors and VCs. Not anymore. Almost anyone can speculate on the future of their favourite companies by buying and selling their company coin.”
- Lee Betts, Founder at Backed
Backed aims to help democratise investing by enabling almost anytone to speculate on the future of private companies from as little as $50.
Backed offers a novel approach to investing and one which could prove a hit with investors looking to find returns during a difficult time in both the crypto and traditional markets. The supply of BKD is capped at 6m tokens, making it naturally scarce. During the initial token sale phase, up to 5 million BKD tokens will be distributed according to demand. The remaining 1 million will be retained by the founding team and/or used for marketing purposes. The price will start at 0.00001953125 Bitcoin. For every 500,000 tokens distributed, the price of BKD compared to BTC will double. If we sell all 5 million tokens during the initial token sale, the price will 512x.
“The top 20 stock exchanges in the world have a combined market cap of about $100 trillion. If Backed can represent the majority of the private companies in the world, I don’t see why Backed can’t be a $10 trillion dollar asset class.”
- Lee Betts, Founder at Backed
If Backed were to become a 10 trillion-dollar asset class, with just six million BKD tokens available, the price of one BKD token would have to be $1.66m, nearly 100x the price of Bitcoin today. Given that BKD is currently available at around $0.40 per token, an investment of $1,000 today would be worth $4.16B if BKD hit $1.66m per token. That’s a lot of potential upside.
Media Contact
Company Name: Backed
Contact Person: Lee Betts
Email: Send Email
City: Newquay
State: Cornwall
Country: United Kingdom
Website: https://www.backed.finance/
