Ever since Bitfinex unveiled their BFX token, the markets have gone through ups and downs. Initially priced at US$1 per token, the prices started to plummet rather quickly. Its lowest point was around the 25-cents range, although this has improved again over time. The rumours of being able to convert these tokens to an equity take in iFinex Inc are driving up the price, it seems.
Volatile Charts Were To Be Expected
It has to be said; the BFX token has been going through its ups and downs already. This is not entirely unexpected, considering own every token represents an outstanding debt to Bitfinex users. Then again, making this token tradeable is an interesting way for the exchange to generate additional fees.
But that is not the main selling point of BFX. The company announced token holders would be able to convert BFX to equity stake in parent company iFinex inc. It doesn’t happen everyday one gets a chance to own a part of a large Bitcoin company. BnKToTheFuture will be aiding in this conversion process, although no specific timelines were provided yet.