New York, New York (NetworkNewsWire) – Experts say
cryptocurrencies like bitcoin and Ethereum are here to
stay1 and could even someday eclipse hard
cash2. Encryption techniques regulate these digital
currencies, which operate independent of governments and central
banks and are organized through an online network known as a
blockchain. Bitcoin has really exploded in recent months, hitting
record highs in August 2017 that surpassed $4,000 per
coin.3 On September 1, bitcoin once again reached an
all-time high, hitting $5,000 per coin on a major
index.4 There is certainly money to be made in the
booming bitcoin market, and savvy companies like
ChineseInvestors.com, Inc. (CIIX) (CIIX
Profile), MGT Capital
Investments, Inc. (MGTI), Bitcoin Services, Inc.
(BTSC), Bitcoin Investment Trust (GBTC)
and SinglePoint, Inc. (SING) are doing just
that.
ChineseInvestors Inc. (CIIX)
(www.ChineseInvestors.com), a leading financial
information website for Chinese-speaking investors, on August 14
announced the launch of a cryptocurrency education and trading
subscription service on the company’s premier financial website,
www.Chinesefn.com. Chinesefn.com offers real-time
market commentary, analysis, and educational services to
Chinese-speaking investors. The new cryptocurrency subscription
service will cover timely news, as well as analysis relating to all
aspects of the emerging digital currency landscape, including
coverage of cryptocurrencies like bitcoin and Ethereum, industry
trends, price movement, sector-related stocks like ETFs, and
more.
CIIX’s new subscription service will serve Chinese-speaking
investors who desire to cash in on burgeoning bitcoin market
opportunities but do not have a complete understanding of the
concept of digital currency or how the cryptocurrency system works.
Through its subscription service, CIIX plans to provide
Chinese-speaking cryptocurrency newcomers with essential knowledge,
including straightforward explanations regarding cryptocurrency
basics, how to buy cryptocurrency, and clear-cut information about
trading guidelines. Through this advanced education and trading
subscription service, CIIX is striving to become the premier
Chinese educational source for digital currency news and
information.
This service is of particular importance as Chinese regulators
recently announced their ban on initial coin offerings (ICO) in the
country, affecting the way projects raise cash or other currencies
through cryptocurrencies. Authorities say they are initially
focusing their investigation on 60 major ICO platforms.
CIIX also recently announced plans to launch the very first
Chinese daily video news broadcast from the NYSE covering digital
currency and blockchain technology (http://nnw.fm/sHs7U). These videos will be produced by
professional financial media company Wall Street Multimedia, an
independent news agency broadcasting from the NYSE and one of the
first Chinese media companies to cover trends and developments in
the U.S. securities market. Wall Street Multimedia is the only
Chinese media outlet with the capabilities to instantly and
simultaneously access information from several major U.S. stock
exchanges and to conduct onsite interviews within those stock
exchanges. It is anticipated that the broadcasts will begin airing
in October, providing timely information and exclusive analysis
regarding all aspects of the digital currency world.
Additionally, CIIX in July announced that its wholly owned
subsidiary, Chinesehempoil.com Inc., had commenced acceptance of
bitcoin payments, enabling customers to purchase the company’s
hemp-based health products, foods and beverages using bitcoin
(http://nnw.fm/w3pbB).
While bitcoin is a notable part of CIIX’s business plan, the
company is also focused on taking its share of the legal cannabis
industry, which is forecast to grow at a 27 percent CAGR through
2021 (http://nnw.fm/n7jVK). In 2016, CIIX started laying the
groundwork to capitalize on the growing demand for
cannabidiol-based (CBD) nutrition and health products, with a
natural focus on Chinese-speaking markets. By the end of 2016, the
company had begun implementing its plans for a new website and
mobile application in order to facilitate online distribution of
CBD oils for the booming global medical marijuana industry. While
marijuana use is illegal in China, cannabis-based oils, including
hemp-based CBDs, are legal, thus opening a potential market of
nearly two billion people for CIIX.
The company also has a foothold in China’s burgeoning skin care
industry with its new line of cannabidiol-based skin care products.
The company has filed a record of its first line of hemp-infused
skin care products with the China Food and Drug Administration
(http://nnw.fm/3nlZM) and expects to launch in
the next couple months.
Another cryptocurrency-related play is MGT Capital
Investments, Inc. (MGTI), which is one of the largest
U.S.-based bitcoin miners. The company has an ongoing focus on an
expansion model to significantly increase its crypto assets. On
September 1, MGTI announced it has increased a standing order with
Bitmain Technologies for S9 Antminer Mining rigs, increasing the
number ordered to more than 1,500. Shipment is anticipated to take
place during 2017’s fourth quarter. Following shipment and setup,
and combined with MGTI’s currently operational rigs, the company’s
bitcoin mining operations are expected to deliver approximately
$1.4 million in monthly revenue, assuming present pricing and
difficulty rates. EBITDA from MGTI’s bitcoin mining operations is
projected to be $1.0 million per month, factoring in direct
operating costs and prior to amortization of notes payable.
Bitcoin Services, Inc. (BTSC) is another
company engaged in mining bitcoin, additionally developing and
selling blockchain software. During the first quarter of 2017, BTSC
began mining its own cryptocurrency, known as Dash. The company
also recently created a new subsidiary, CryptoCapital Corp., which
is a cryptocurrency holding firm focused on acting as a catalyst
for widespread cryptocurrency adoption and innovation. An intention
behind the creation of CryptoCapital Corp. was the development of a
cryptocurrency wallet that would let users securely store multiple
digital currencies all in one wallet.
Another standout cryptocurrency player is Bitcoin
Investment Trust (GBTC), which shines as the very first
publicly quoted bitcoin investment vehicle. GBTC enables investors
to invest in digital currency without actually buying bitcoin. A
U.S.-based, open-ended grantor trust sponsored by Grayscale
Investments, Bitcoin Investment Trust is invested exclusively in
bitcoin, and its shares are the first publicly quoted securities to
be solely invested in and derive value from the price of bitcoin.
Through Bitcoin Investment Trust, investors can gain exposure to
bitcoin’s price movement via a traditional investment vehicle
without the challenges associated with buying, storing and
safeguarding bitcoin. Bitcoin Investment Trust was named one of OTC
Market Group’s “OTCQX Best 50” for 2017.
Due to their independence from banks and governments,
cryptocurrency systems have clear application in high-risk sectors,
like America’s burgeoning cannabis market. In the United States,
while use of medical and recreational cannabis is being legalized
in various states, continued restrictions at the federal level have
made marijuana businesses largely “unbankable.” Without traditional
banking services available to them, most cannabis businesses are
forced to conduct cash-only transactions. While its core focus is
executing an acquisition-based growth strategy to increase its
market potential and position in cannabis, SinglePoint, Inc. (SING) is an early
mover in leveraging bitcoin as a remedy for broader banking
challenges.
SinglePoint’s new bitcoin exchange, which is planned to debut in
beta form in November, will enable cannabis vendors to process
debit and credit card transactions without the cooperation of banks
or the FDIC. SinglePoint’s KYC-AML-compliant, proprietary solution
will let marijuana consumers obtain bitcoin right at the point of
sale and make instant bitcoin-powered purchases using their cards.
Buyers can sign up before visiting a cannabis merchant or sign up
at the point of sale.
It is indeed an exciting time for investment in cryptocurrencies
and in services related to them, and experts predict longevity for
these alternate currency systems. For those seeking promising
cryptocurrency-related play, the named companies offer prime
opportunities.
Editorial Sources:
1) Fortune: http://nnw.fm/W4EFb
2) Investopedia: http://nnw.fm/d8Sid
3) Bitcoin.com: http://nnw.fm/zo7JB
4) Fortune: http://nnw.fm/W6Hxk
For more on CIIX please visit: ChineseInvestors.com (CIIX) or www.ChineseInvestors.com
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