NEW YORK, August 16, 2017 /PRNewswire/ --
The price of Bitcoin reached a new record high of $4,483.55 early yesterday morning, before giving back gains and dipping below $4,000. According to a report by CNBC, the currency's price on Tuesday morning brought the valuation of bitcoin very close to market caps of major technology stocks on the S&P 500 such as Netflix, which has a market cap of about $73 billion. CNBC indicates that analysts are divided on the direction of bitcoin's price. Standpoint Research's Ronnie Moas has raised the price target for the currency, projecting the value of bitcoin to reach $7,500 in 2018. Goldman Sachs analysts have projected a possible short-term rise followed by a large correction. ChineseInvestors.com, Inc. (OTC: CIIX), Bitcoin Capital Corp. (OTC: BITCF), Bitcoin Investment Trust (OTC: GBTC), BTCS Inc. (OTC: BTCS), Global Arena Holding, Inc. (OTC: GAHC)
Bitcoin's official news, revealed that the protocol firm Blockstream just announced their plan to transmit bitcoin from space across the world using satellite technology. Blockstream CEO, Adam Back talked about how the technology would help people across the globe. He said, "Today's launch of Blockstream Satellite gives even more people on the planet the choice to participate in Bitcoin. With more users accessing the Bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network."
ChineseInvestors.com, Inc. (OTCQB: CIIX) at the beginning of this week announced 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."
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 June 19th, First Bitcoin Capital Corp and Simple Automated Money, Inc. announced that SAMCO will provide automated check-cashing kiosks through BITCF locations in Northern California. SAMCO's Web-enabled automated check-cashing kiosks merge unique and exclusive check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.
Bitcoin Investment Trust (OTCQX: GBTC) the publicly-quoted security is invested in and originates value from the market value of bitcoin. The Bitcoin Investment Trust exposes the value and price change of bitcoin to investors through a traditional investment vehicle, without requiring the purchase, safekeeping and storing of bitcoins. The BIT tracks the bitcoin market price, fees and expenses.
BTCS Inc. (OTC: BTCS) is focused on digital assets and blockchain technologies. On July 10th, in a letter to shareholders, Charles Allen, CEO and Chairman of BTCS said, "Our decision to focus our business around blockchain technologies in 2015 has proven to be a valid thesis with prescient timing, yet without the ability to secure sufficient capital in 2016, we were unable to realize the potential from this truly disruptive opportunity. Recognizing that this opportunity is still in its infancy, we spent much of the past year focused on restructuring liabilities to improve our financial position as we seek out acquisition opportunities and execute on our plan to build a portfolio of digital assets. To this end, we successfully exchanged approximately $3.9 million of convertible notes and liquidated damages for fixed-price Series B preferred stock, entered a leak-out agreement with the former note holders, and raised $1 million to settle liabilities and provide working capital."
Global Arena Holding, Inc. (OTC: GAHC) is a holding and technology development company. We are focused on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology. The company has two subsidiaries, GAHI Acquisition Corp. and Global Election Services, Inc. GAHC incorporated GAHI Acquisition Corp. to be the merger subsidiary for the acquisition of Blockchain Technologies Corporation ("BTC"). Global Election Services, Inc. (GES) provides comprehensive technology-enabled election services primarily for organized labor associations.
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