Australians Begin Sale of Bitcoin Fractions


Cryptocurrency enthususiasts in Australia can now buy fractions of digital asstes such as Bitcoin Core (BTC) and Ethereum(ETH) through 1,200 news agencies. This strategy is being used by the news agents to revamp the quick dying interests in newspapers and magazines.

Summary:


  • With just $50, an email and a phone number, residents in Australia will be able to purchase BTC or ETH.
  • News Xpress Agent stated that this was a strategy to address declining revenue and add more demand to the business.
  • The CEO of Bitcoin Australia estimates the number of people using Bitcoin in comparison with the population to be 2-3%
  • He is confident that a world where cryptocurrency will be accepted to buy anything is soon to come.
  • An executive of the Australian Lottery and Newsagents Association; Adam Joy is however wary of the innovation and says there are many other ways that News media can innovated to create more demand and bring in profit.
  • “Newsagents have many ways to innovate that are much less concerning and fall within regulations and safeguards,” says Joy.
  • She also reminds that cryptocurrencies are generally connected with illegal activities and lack of transparency.
  • Cryptocurrency is currently gaining grounds in Australia and government officials are slowly watching and are set to roll out legislation and regulation of them
What are you thoughts on news agencies offering to sell fractions of BTCs and ETH to revamp demand for newspapers?


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