Singapore January, 2018 – Blockchain company BitCar.io has sold SGD 6.5 million of BITCAR tokens in its pre-ICO, amid strong interest for its exotic car pegging and trading platform.
75 million BITCAR tokens were purchased in the pre-ICO with up to a maximum 175 million tokens being made available in the company’s ICO, which begins 31 January at 3 P.M Singapore time.
Singapore headquartered BitCar is developing its Blockchain platform that will facilitate cryptocurrency payments for fractional ownership of highly collectible hyper and classic cars.
BitCar co-founder Dr. Gov Van Ek said:
BitCar’s platform is designed to allow users to peg their crypto to scarce hard assets, like rare and exotic cars, some of which have outperformed gold, stocks and property over the past decade.
Rare exotic cars such as Lamborghinis, Ferraris and Bugatti’s will be acquired for BitCar and stored or displayed for up to 15 years – and historically these cars appreciated over time.
BitCar Executive Dan Woodroof said:
BitCar is targeting high-end cars as they’ve historically had much lower price fluctuations than cryptocurrencies. Our feedback has been that one immediate use of the BitCar platform is as a place of stability in times of …
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