How much Bitcoin would you pay to see Tony Robbins?
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SG Global will become one of Australia’s first event promoters to start accepting Bitcoin and other cryptocurrencies for ticket payments.
The promoter (ASX:SGU) is behind motivational speaking and education tours that “transform lives globally” with hosts such as Tony Robbins, Richard Branson and Wolf of Wall Street author Jordan Belfort.
Bitcoin and Ethereum will be initially be accepted.
The news didn’t inspire investors, however. SGU shares were trading at 3c on Tuesday, their lowest point in the past 12 months.
“We are in an age of disruption, and the hard truth is that most of us are unable to keep up with how fast technology is growing,” SG Global chief financial officer Peggy Chan told shareholders.
“We believe in embracing technology while also teaching others to do the same and crypto-currency is a tremendous opportunity that should not be missed.”
Earlier this month, a Dubai property development was the first to be priced in Bitcoin, with apartments going for roughly 50 Bitcoin or $242,000.
It is estimated more than $US70 billion of Bitcoin alone is in circulation in the market, approximately 16.5 million coins.
SGU posted a loss of $4.7 million for the half year ended June 30, compared to $1.4 million for the comparable period in 2016.
Plans for further expansion have been slated for the coming year, with a push into eastern Europe through acquisition of Success Resources UK.
SG Global had $3.7 million in the bank at the end of June.