• Digital asset manager
• Supports blockchain-based technologies
• Traded on the NEX exchange
What KR1 does
Founded in 2016, the company has invested in a number of projects that it believes will power the development of the decentralised blockchain infrastructure.
The company is currently listed on the NEX exchange in London.
• In June, the company netted US$360,605 from the sale of ATOM tokens in the Cosmos blockchain network. KR1 said it had sold 70,079 ATOM tokens for an average price of US$5.14 each, having acquired them for around US$0.10 each in a Cosmo initial coin offering in early 2017
• In its results for the year ended 31 December 2018, KR1’s CEO George McDonaugh said the company was in “a very strong position” for the long-term having sold positions during the highs of the cryptocurrency market in 2017
• In April, KR1 made US$205,851 from the sale of its stake in blockchain-based finance network OmiseGo, which it described as one of its “most successful investments to date”. The firm said it had sold its remaining OmiseGo tokens at an average price of US$2 each, a 650% increase on the original purchase price of US$0.27
Looking ahead, chief executive George McDonaugh said the company had managed to place itself at the heart of the “next shift” in the lifecycle of blockchain technology.
He added that the price of Bitcoin, often seen as a key barometer of the market, had risen to levels not seen for half a year or more and that should this could be a bullish shift from a 54-week long bear market the had previously driven an 84% correction in Bitcoin’s price down from highs at the end of 2017.
With the shares trading at around 7.5p as of 14 June 2019, KR1 carries a market cap of £10.3mln.
Interview – chief executive George McDonaugh