Sydney cryptocurrency pioneer Independent Reserve has acquired Sydney Swans sponsor Bitcoin.com.au in a deal worth $3 million.
The M&A deal comes as crypto sees rising prices and renewed interest amid US bank collapses and the USB takeover of Credit Suisse.
Since the collapse of Silicon Valley Bank, amid ongoing concerns about the stability of the US financial system, Bitcoin rose more than 40%, to climb above the US$28K (A$41.7k) mark for the first time since June 2022. Ethereum was up 4.3% and Solana rose by 10%, with Ripple flat, Cardano down 3.5%, Polygon (-6.3%) and Dogecoin (-1.9%).
Announcing the takeover today, Independent Reserve CEO Adrian Przelozny hailed Bitcoin.com.au as the newest and easiest way for Australians to buy crypto.
“The cryptocurrency and blockchain space has become increasingly complex. Meanwhile, there is a very large portion of Aussie investors who want to get into crypto but consider it too difficult,” he said.
“In our latest IRCI report, 22% of Australians didn’t invest in crypto because they found it too difficult or confusing. Bitcoin.com.au is the solution for those Aussies.”
Independent Reserve, founded in 2013, was previously a sponsor of the Swans AFL team, and is now once again through bitcoin.com.au. The brand will engage with fans at home games, with the first match this weekend at the SCG against Hawthorn.
Przelozny said the launch of the country’s newest crypto exchange, which has around 100,000 people on its database, is an extension of Independent Reserve’s offering.
“The bitcoin.com.au team is giving people what they want; an easy way to buy and sell the world’s most popular cryptocurrencies. Security is still at the forefront of what we do. While we are making things easier, Independent Reserve has built its reputation off the back of ensuring our customer’s assets are safe. That won’t change with bitcoin.com.au,” he said.
“At a time when many in the market are bunkering down, we are extending our offering and delivering on our growth strategy with the launch of bitcoin.com.au.”
Independent Reserve has around 250,000 customers from Australia, New Zealand and Singapore investing in Bitcoin, Ethereum, XRP and other major cryptocurrencies.
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