Silver Castle Issues Bitcoin-Tracking Bonds on TASE UP

Silver Castle, an Israeli digital asset investment firm, has issued Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term-linked and backed bonds today on TASE UP, which is a platform of the Tel Aviv Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term allowing tech companies to raise funds without going for an IPO.

The press release shared with Finance Magnates detailed that the Bitcoin instruments will enable institutional and qualified investors to add digital currency exposure to their existing portfolios.

“The joint endeavor with TASE and its exposure to the institutional market in Israel is a significant milestone in forming awareness and recognition for the digital assets sector,” Silver Castle CEO, Eli Mizruch said.

Putting Bitcoin on the Mainstream Market

The issued bonds will have a term of three years and will not bear any interest. The company further detailed that the proceeds collected from the bond issuance will be only utilized in the purchase of Bitcoin.

Additionally, the redemption of Bitcoin bonds will be made in shekels at the exchange rate of the digital currency on the redemption date. Moreover, the issuer will allow weekly early redemption of the bonds that will be available at the end of three months.

“As significant companies enter the [crypto] field, we believe that the Israeli capital market is better prepared to participate in the sector and a growing number of companies realize that investment in digital assets contributes to portfolio diversification, without correlation to other assets, offering a substantial profit potential,” Mizruch added.

Founded in 2018, Silver Castle offers cryptocurrency investment services through its digital currency hedge funds. It is exploring services like Bitcoin-backed loans, advanced trading strategies and other products to expand its offerings to institutional clients.

“The launch of TASE UP allows institutional and qualified investors direct access to new investment opportunities, in both private companies and innovative products, such as Bitcoin-linked bonds, all through a platform that was constructed to resemble the infrastructure of TASE's familiar trading and clearing systems,” said Ittai Ben Zeev, CEO of TASE.