FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) was up significantly recently, after announcing subsidiary was first exchange to offer futures trading in XBU. Now, if you haven’t heard of First Bitcoin Capital, yet, it’s a bitcoin-related company, but that’s not all. FIRST BITCOIN CAP is engaged in the development of digital currencies, proprietary Blockchain technologies, and the digital currency exchange, www.CoinQX.com.
If you’ve been following the news, you’ve probably heard at least once that, at one point recently, one Bitcoin was more expensive than one Troy ounce of gold. Bitcoin is a highly encrypted form of digital currency, and it looks like there is demand for this form of currency. Bitcoin has been gaining some transaction, and there are some companies looking to create Bitcoin ETFs. Although the Winklevoss Bitcoin Exchange-Traded Fund was rejected by the SEC, this action does not affect any other Bitcoin companies that are filing or will file in the future.That in mind, this could further drive Bitcoin prices higher, and companies like First Bitcoin Capital could rise. Another reason for the rise in Bitcoin could be due to the geopolitical risks going on in the world, created by Brexit, Trump and the French Presidential election.
Getting back to company news. FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) announced it launched BITCOIN UNLIMITED FUTURES, and it’s trading under the symbol XBU. Other Bitcoin exchanges have been preparing for the hard fork of Bitcoin into two coins, the original would remain named as Bitcoin symbol BTC. That in mind, Bitcoin traders and investors have been anxious to start trading in BTU. CONQX issued on Bitcoin Blockchain 9M tokens, and if and when, BTU comes into existence, it would not be convertible or equal to XBU.
First Bitcoin director, Patrick Dugan stated, “Most likely Bitcoin Unlimited ( BU) would serve as a check to force market demands to come to the fore in Bitcoin Core, or conversely, BU could adapt Segwit. As someone who provides financial services and depends on the throughput of the Bitcoin blockchain for operations, I can say that more ruckus is preferable to the status quo.”
Now, once the hardfork is completed, XBU would continue to trade and intends to survive as a third option to Bitcoin and Bitcoin Unlimited. The split of BTC in two coins is quite similar to a spin-off of a subsidiary from a publicly-traded company. The newly-issued coin would not be directly related to the original Bitcoin or the pending hardfork. XBU is already exchangeable on DEX against other currencies, such as $GARY, $BURN, $HILL, $MAID, and $TESLA.
According to BITCF, “We see this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets.”
With the recent rise in bitcoin and the development in BITCF, you might want to keep this stock under your radar. BITCF recently announced it launched BITCOIN UNLIMITED FUTURES, and consequently, this may have been to catalyst that sent the stock higher. Additionally, there may be an increased demand for this currency, and it seems like Bitcoin is becoming accepted by many. In turn, this could also be a driver of BITCF. You do not have to be around the markets all day to get updates on BITCF. All you have to do is simply enter your email, below, to sign up to our free newsletter. We’ll provide you with the most recent news in BITCF as it unfolds.