New Entries and Money Flow into Bitcoin / Blockchain Market Creating New Levels for Bitcoin and Record Investor Enthusiasm
Stocks Mentioned: (TSXV: $HIVE.V), ($OSTK), ($MARA), ($SQ), ($CME), ($NDAQ)
Point Roberts, WA - November 20, 2017 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering leading sectors including cryptocurrency and blockchain reports on recent entries into the bitcoin /blockchain list of publicly-traded companies and the investor frenzy that has seen bitcoin hit new highs following its recent sell-off.
Once scoffed at by the bigger players on Wall Street, investors are now seeing big names and big money get on the bitcoin train.
Big money is flowing into the sector with HIVE Blockchain (TSXV: HIVE) announcing closing "$34.5 Million Bought Deal Financing and Expands Production of Newly Minted Digital Currencies" The net proceeds of the Offering are to be used to fund the second phase of construction at the digital currency mining data centre in Sweden.
tZERO announced that the company's token sale, utilizing a Simple Agreement for Future Tokens (or SAFT), will begin on December 18, 2017. "The interest in the proposed tZERO token sale has been overwhelming, and we have been working with our advisors to create the most unique and innovative token," said Joseph Cammarata, President of tZERO. Patrick Byrne, CEO of Overstock.com (NASDAQ: OSTK) and Founder of tØ said earlier at Money20/20, "We think this may be the largest ICO yet that comes to market."
Square's (NYSE: SQ) stock ran last week and also boosted bitcoin prices close to $8000 on news that they will be running a trial for some users of its Cash platform to buy and sell bitcoin.
"Given SQ's tendency to move judiciously into new technologies, we expect it will do the same with bitcoin purchases. We believe the largest risk is regulation, which could limit its ability to provide the service or outright ban it. SQ is also exposed to liquidity and counterparty risk as it must source bitcoin for users either by pre-buying or using an exchange. Despite these risks, the upside could be significant if cryptocurrencies become more mainstream."
On October 31st CME Group (NASDAQGS:CME), the world's leading and most diverse derivatives marketplace, announced it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
"Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "As the world's largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities."
Marathon Patent Group (NASDAQ: MARA), announced on November 2, 2017 that it has entered into a definitive purchase agreement to acquire 100% ownership of Global Bit Ventures Inc. ("GBV"), a digital asset technology company that mines cryptocurrencies. GBV has robust infrastructure in place with significant capability for expansion.
Global Bit Ventures Inc. http://www.globalbitventures.com owns state-of-the-art GPU-based servers used to mine digital assets.
In the press release Merrick Okamoto, Chairman of Marathon said, "This acquisition provides investors an opportunity to invest in one of the first NASDAQ-listed public companies to enter this rapidly growing industry."
On November 13th, Reality Shares and Nasdaq (NASDAQGS:NDAQ) announced the creation of the Reality Shares Nasdaq Blockchain Economy Index, a smart-beta index that tracks the growth and development of leading global companies creating and implementing blockchain solutions.
"Reality Shares recognized the tremendous growth potential of blockchain technology and subsequently teamed up with Nasdaq to identify what we believe to be the leading global companies deploying resources to develop blockchain applications," said Eric Ervin, CEO of Reality Shares. "As these new applications are deployed, we believe these companies will most likely become disrupters in their industries, with potential to profit at the expense of laggard companies that do not deploy blockchain applications."
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