NetworkNewsWire
Editorial Coverage: Despite the skepticism in the market about
the legitimacy and longevity of bitcoin and other cryptocurrencies,
the underlying blockchain technology is something that tech firms
and the financial sector cannot ignore. While cryptocurrencies’
surging values and wild price fluctuations have made many
established organizations reluctant to invest in this market,
Bloomberg reports that Goldman Sachs is setting up a trading desk
for cryptocurrencies (http://nnw.fm/ayFK8). This positions the company to be
the first large Wall Street investment banker to trade in digital
currency. Businesses such as ChineseInvestors.com, Inc.
(CIIX) (CIIX
Profile) are taking advantage of the deeper rooted blockchain
market that seems to offer infinite application. Xunlei
Limited (XNET), a cloud-based computing company, is
another company extending its reach by incorporating blockchain
technology in its offerings, and still others showing interest in
the cryptocurrency, bitcoin and blockchain sector include
MGT Capital Investments, Inc. (MGTI), Riot
Blockchain, Inc. (RIOT) and the retailer
Overstock.com, Inc. (OSTK).
The number of corporate investors in blockchain companies hit a
record high in 2017, with large banks and financial service
organizations leading the way. Among the growing list of
recognizable names, Google’s parent company, Alphabet Inc. (NASDAQ:
GOOG), is another big investor in blockchain (http://nnw.fm/guBC3). Increased application and
acceptance are subsequently pushing the value of cryptocurrencies,
the tokens used in blockchain technology, higher. In 2017, they
surged to $600 billion from just over $18 billion at the start of
the year (http://nnw.fm/wVAZ0).
Additionally, initial coin offerings (ICOs) are overtaking
traditional funding options for blockchain start-ups. Several huge
deals were negotiated during 2017, including the $107 million
raised by R3, a company developing a blockchain database for use by
global financial institutions. Coinbase, a digital currency
exchange based in San Francisco, raised $100 million in equity
funding.
Committed to Cryptocurrency
ChineseInvestors.com, Inc. (CIIX) was founded in 1999
and has developed into a leading financial website for
Chinese-speaking investors in China and the United States. The
company’s clients trade in the OTCQB Venture Market, NASDAQ and
NYSE public markets, among others. With a core focus on investor
education, the site offers various products and services such as
real-time market analysis, commentary and investment education. The
company also offers advice to smaller companies on growth strategy,
while providing support services for advertising and public
relations.
ChineseInvestors.com saw its first-quarter investor relations
(IR) revenues grow 186 percent over comparable revenues reported in
the first quarter of 2017. During the 2017 fiscal year, the
company’s IR sales made a 130-percent, year-over-year leap to
$808,362 (http://nnw.fm/53Ge6). ChineseInvestors.com is becoming
more selective about its client companies in the process, and is
entering into more cash compensation arrangements. Now it proposes
to extend its educational coverage to bitcoin and the
cryptocurrency market.
The company has stated its commitment to the future of bitcoin
and other cryptocurrencies, and has thus decided to spin off its
wholly owned cannabis subsidiaries (CBD Biotechnology Co., Ltd. and
ChineseHempOil.com) to focus efforts on its new cryptocurrency
division. Despite China’s ban on cryptocurrency trading on domestic
regulated exchanges, company CEO Warren Wang remains highly
optimistic about the future of bitcoin and other cryptocurrencies,
noting that Chinese investors are bypassing the ban to trade on
unregulated offline platforms.
In an interview with the Bad Crypto Podcast, Wang said: “The
Chinese investor is an advocate of gambling. Most today trade
bitcoin and other cryptocurrencies on the offline market. The
Chinese-speaking people within China and also in North America —
the U.S. and Canada — are excited about bitcoin.”
Cryptocurrency also provides investors the ability to diversify
their portfolio and shift away from traditional investment
opportunities.
“Real estate is very expensive and so are labor and rents in
China. Investors have a high savings rate. They now would like to
make bitcoin and other cryptocurrencies part of their assets. They
are trading offline on platforms of decentralized exchanges to do
so,” Wang explained.
With a strong commitment to cryptocurrency education and
awareness, ChineseInvestors.com broadcasts a daily video, called
Bitcoin MultiMillionaire, from the NYSE. The company also hosts and
has installed a Bitcoin ATM in the lobby of its headquarters in San
Gabriel, California. This installation enables the company to reach
the Chinese-speaking community worldwide with bitcoin marketing,
even though Chinese regulators have banned sales of bitcoin.
"Although there has been some volatility in the cryptocurrency
market, Bitcoin's price resilience is impressive … With each
rebound in price relative to news, we see more evidence that the
concept of digital currency is taking root with investors and the
general public alike," Wang stated in the press release (http://nnw.fm/mU7QS). "In addition to providing
skilled investors with news about digital currency,
ChineseInvestors.com, Inc. hopes to satisfy the average person's
curiosity about cryptocurrency, including how to purchase Bitcoin.
Moreover, the underlying Blockchain Technology is extremely
compelling and we expect to see many interesting developments in
this area. Bitcoin ATMs are just one example of how this area is
moving forward. We are excited to make this service available to
the Chinese community."
Wang advised industry entrepreneurs to be patient with Chinese
investors while they learn about digital wallet management and the
processes for trading in bitcoin and other cryptocurrencies. He
expressed confidence that China may organize a regulated market for
cryptocurrency trading in the future.
Comparable Companies
Multinational technology company Xunlei Limited
(XNET) is an online service provider investing in
cryptocurrency from its base in Shenzhen, China. The company’s
cloud-based platform enables users to access, manage and consume
digital media content. Its Xunlei Accelerator product enables users
to accelerate digital transmission over the internet through
various products, such as Green Channel and Offline Accelerator.
Mobile Xunlei allows users to search, download and consume media
content on mobile devices. Xunlei’s OneThingCloud is a LinkToken
mining platform designed to be mobile-compatible for digital
currency mining. Mid-October 2017, the company launched OneCoin, a
cryptocurrency that has experienced a dramatic increase in value,
more than 80-fold since launch.
MGT Capital Investments (MGTI) focuses on
acquiring and developing a portfolio of cyber security
technologies. The company also addresses various cyber threats
through the implementation of protection technologies for mobile
and personal devices, as well as corporate computer networks. MGT
is also actively engaged in bitcoin mining. In December 2017 the
company announced its agreements to secure reliable and adequate
electric power in Sweden and that it expects to start deployment of
mining rigs early in 2018. The initial phase of the agreement will
provide MGT with 25 megawatts of power, enough for more than 15,000
Bitmain S-9 mining rigs.
Originally known as Bioptix Pharma, Riot Blockchain
(RIOT) has experienced rapid growth following its decision
to reorient its focus from biopharmaceuticals to blockchain
technology. The company’s stock soared from $7 in November 2017 to
over $46 in mid-December. Riot Blockchain’s mission is to establish
itself as an authority on blockchain technology, while offering
investors valuable exposure to the blockchain market. The company
invested in Verady, LLC, which provides accounting and auditing
services to the digital currency market. It also owns a share in
Coinsquare, a Canadian-based cryptocurrency exchange. Riot
Blockchain has majority ownership of TessPay, a blockchain-based
payment resource for wholesale telecom carriers.
Overstock.com (OSTK) is a U.S.-based online,
award-winning retailer, which, through its Medici Ventures INC
subsidiary, is also focused on blockchain applications with the
potential to disrupt industries such as capital markets, finance
and banking, property registration and voting identity
verification. Medici recently raised over $2.2 million in a seed
funding round for mobile voting platform, Voatz, which aim to use
blockchain technology and biometrics improve voting infrastructure
security (http://nnw.fm/4nqGD).
Many companies are concerned about the volatility in the
cryptocurrency market. However, there is increasing acceptance that
blockchain technology is here to stay and will continue to have a
growing impact on the way the world transacts and does business.
These companies are taking the lead by positioning themselves to
capitalize on this opportunity and develop their enterprises as
leaders in this industry.
For more information on ChineseInvestors.com, please visit:
ChineseInvestors.com (CIIX)
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides
(1) access to our news aggregation and syndication servers, (2)
NetworkNewsBreaks that summarize corporate news and
information, (3) enhanced press release services, (4) social media
distribution and optimization services, and (5) a full array of
corporate communication solutions. As a multifaceted financial news
and content distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to
best serve private and public companies that desire to reach a wide
audience of investors, consumers, journalists and the general
public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings
its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW are a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertake no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From Sep 2023 to Sep 2024