NEW YORK, August 14, 2017 /PRNewswire/ --
Bitcoin cryptocurrency reached a new all-time high on Friday and has increased in value over 20 percent in just a week. Bitcoin overshadowed global stocks, which have been under pressure, as worries of global geopolitical tensions rise. Investors regained confidence in Bitcoin after the split regarding an upgrade to its underlying technology that took place last week. A report by Fortune indicates that the vast majority of the Bitcoin community supports a solution called SegWit2x, while others favor a different scaling mechanism called Bitcoin Cash. After the split, it has become apparent that investors prefer to buy Bitcoin over Bitcoin Cash. Matthew Newton, Market Analyst at trading platform eToro stated, "The price rise in bitcoin very closely mirrors the decline in Bitcoin Cash, indicating that investors are selling their Bitcoin Cash for Bitcoin," according to Fortune. ChineseInvestors.com, Inc. (OTC: CIIX), SinglePoint, Inc. (OTC: SING), Bitcoin Capital Corp. (OTC: BITCF), Bitcoin Investment Trust (OTC: GBTC), BTCS Inc. (OTC: BTCS)
"With SegWit locked in, and an effective split between two camps with differing visions for the asset (BTC and BCH), it is now experiencing a relief rally," said Chris Burniske, author of the upcoming book, Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond. "A greater number of entities, including institutions, are waking up to bitcoin's merits as a currency that is uncorrelated to the traditional capital markets," he said according to CNBC. Ari Paul, CIO of cryptocurrency investment firm BlockTower Capital, commented on Bitcoin, "Every day sees new buyers entering the market, and as the price rises, owners of Bitcoin only become more bullish. This trend may continue until there's an exogenous shock to entice new sellers."
ChineseInvestors.com, Inc. (OTCQB: CIIX) just announced this morning that, the launch of its cryptocurrency education and trading subscription service on Chinesefn.com, the Company's dynamic financial website that provides real-time market commentary, analysis, and educational related services to Chinese-speaking investors. The new subscription service will cover timely news and will provide analysis regarding all aspects of the emerging digital currency world, including coverage of cryptocurrencies including bitcoin and ethereum, industry trends, price movement, sector related stocks and ETFs, etc.
Cryptocurrency has attracted a lot of attention in recent years from the creation of bitcoin, the world's first decentralized digital currency, to blockchain technology, which allows cryptocurrency to transfer value across the globe without resorting to traditional intermediaries such as banks. The ability to transfer value solely through software is a huge breakthrough. The cryptocurrency market has also created new phenomena such as currency mining, trading, tender, and storage. At the same time, it has significantly impacted industries such as cybersecurity, cloud computing and storage, and semiconductors.
"Cryptocurrencies like bitcoin have become a global phenomenon," says Warren Wang, Founder and CEO of CIIX. "Since January 2015, the price of Bitcoin has increased 500% from $200 to $1,000 in January 2017, and just spiked to a record high over $4,000 as US-North Korea tensions escalated. Likewise, ethereum has surged from less than $10 to more than $300 this year.
With the use and trading of cryptocurrencies on the rise in Asia, it appears that a much wider adoption of digital assets may be right around the corner. With an estimated 85% market share, China is one of the dominant players controlling bitcoin volume, along with Japan (which recently legalized bitcoin as a form of payment) and the United States. While many see the unique opportunity that cryptocurrency poses for investors and desire to capitalize on this market opportunity, they may not have a full understanding of the concept of digital currency or how the system works. CIIX intends to provide fundamental knowledge to Chinese speaking newcomers to cryptocurrency, including straightforward explanations of the basics of cryptocurrency, how to buy it and straightforward trading guidelines. For those with cryptocurrency experience, the Company will provide more detailed information regarding currency mining, blockchain technology, stock trends and ETFs. Through its innovative cryptocurrency education and trading subscription service, the Company endeavors to be the leading Chinese educational site providing up-to-date news and information on digital currencies."
SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. On August 8th, SinglePoint announced its purchase of $Weed which is one of the newest fiat currencies floated in the booming cryptocurrency markets. The large block purchase is from crypto industry leader, First Bitcoin Capital. After many months of collaboration, the two companies have decided this initiative is the starting point for a much larger play in the cryptocurrency markets. Weed 'Coin' is a cryptocurrency geared toward solving the payment problems found in the cannabis industry. The coin recently had its ICO launch resulting in an impressive yet illiquid market cap of close to $60,000,000.
First Bitcoin Capital Corp. (OTC: BITCF) is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - http://www.CoinQX.com. The company provides shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. On August 2nd, First Bitcoin Capital Corp announced that it intends to make history by being first to pay dividends to shareholders in the form of a cryptocurrency. First Bitcoin intends to pay regular quarterly 10% digital cash dividends in cryptocurrencies as long as the company has a surplus of this new form of money in reserves.
Bitcoin Investment Trust (OTCQX: GBTC), announced on August 2nd, that a fork in the Bitcoin blockchain occurred on August 1, 2017. The Sponsor is monitoring events relating to the fork and the Bitcoin Cash resulting from the fork. A record date has not been established for the purposes of any distribution that may be made in connection with Bitcoin Cash. The Sponsor will announce a record date, if any, once established.
BTCS Inc. (OTC: BTCS) secures the blockchain through its transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. On May 25th, the company announced it increased its Ethereum-mining hosting business to approximately 150 kilowatts, up from approximately 50kw announced in March 2016. "We have gained valuable expertise since launching our Ethereum pilot program in March," stated Charles Allen, CEO of BTCS.
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