The founders of one of the largest bitcoin exchanges on the planet are getting in touch with their roots.
Both Nejc Kodrič and Damijan Merlak have reportedly made a significant investment in a Slovenian hardware start-up. Together, the two raised a whopping $700,000 worth of bitcoin.
That start-up isCubeSensors, and they manufacture tiny cube sensors (if you haven’t already guessed) that measure environmental elements like air quality, temperature, noise, light, pressure in one’s home wirelessly.
Kodrič and Merlak started Bitstamp in Slovenia, but are now based out of the United Kingdom. The bitcoin investment is apt given their professions as executives of the high-profile crypto-currency exchange.
But in addition to receiving a bitcoin investment, CubeSensors will also be selling their products in exchange for the digital currency when they are ready to ship later this summer. The bitcoin investment will help to fund the next batch of manufactured sensors.
Traditionally, investments are made in fiat currency, so it’s interesting to see Kodrič and Merlak turn this around and offer investment capital in bitcoin.
Of course, the likelihood is that CubeSensors will have to convert a good chunk (if not all) of the bitcoin to local currency to pay their expenses, but hey, it’s a start.