Harvest Returns, an agriculture investment firm based in Texas, USA, announced they would start to accept cryptocurrencies via its escrow technology partner Prime Trust as form of payment for selected platform offerings. The news was announced on the platform’s website in a blog post on January 2.
Got some Bitcoin lying around? You now have an option to fund your agriculture investments using Bitcoin and Ethereum. As the blog post explains, Prime Trust accepts the crypto then converts it to US dollars that can then be used to fund selected offerings listed on the Harvest Returns’ platform.
Harvest Returns was founded in 2016, according to founder Chris Rawley, the company has invested about $3.4M in more than 10 farms across the US. Its investors can make private debt and equity investments of as little as $5K into small farming operations and ag technologies.
Their team believes that more and more investors are looking for ways to move from volatile assets like crypto into more tangible, long-term options like land property. Chris Rawley, the founder, as a navy officer has been deployed to Afghanistan, Iraq, throughout Africa, the Middle East, and Western Pacific. Having traveled the world, he began to appreciate the importance of farming to every single person on earth. He has himself been an angel investor in early stage agriculture and food companies before creating Harvest Returns in 2016 to democratize investments in agriculture.
“Accepting cryptocurrencies is a natural evolution for us,” said in a blog post Austin Maness, Harvest Returns’ Chief Operating Officer. “In a market full of uncertainties, more investors are looking to move out of volatile assets and into tangible, real holdings. For decades, institutional investors have diversified their portfolios with farmland and timberland and now our offerings make them more accessible to a wider pool of individual investors.”
The team has also recognized that the blockchain technology is gradually becoming more important in food production and traceability, and views introducing it into the financial side of agriculture as a logical step.
Investors considering using cryptocurrency should read the restrictions notice from a Harvest Returns’ payment partner PrimeTrust describing the whole process in detail.
Image: Harvest Returns
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