You always hear the phrase ‘follow the money’, and if one is doing so at the present time, that has to include Bitcoin and other so-called ‘crypto-curriencies’. Bitcoin has rocketed to new all-time highs this week and the buzz surrounding the world’s most well-known virtual currency has reached all-time highs with it. We’ve touched on many bitcoin-related stocks, and have another one hitting our radars in FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF).
BITCF is the first publicly-traded cryptocurrency and blockchain-centered company, quite a distinction in a burgeoning marketplace that is being flooded with new names and faces all the time. We expect that trend to continue now that Bitcoin-mania has reached a fever pitch.
FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) has been steadily on the rise since well before this mania hit full-stride, having seen lows of .0115 in mid-December and leading all the way up to the fantastic new highs seen this week at an incredible .565 per share. That marks a swing of nearly 3700% inside of six months.
Most recently on the news side of things, BITCF wholly owned subsidiary, CoinQx Exchange LIMITED, acquired 4,110,504.06746 “Internet of Money” under the cryptocurrency symbol “XOM” from the newest Initial Coin Offering (ICO) found on the cryptocurrency markets this weekend.
The company made this acquisition utilizing 1,000,000 TESLA COIL COINs (TESLA) from its inventory of earned TESLAs.
Not unlike many of the cryptocurrencies that First Bitcoin Capital Corp has generated, including its first ICO -Altcoin (ALT), the Internet of Money (XOM) coins ride on the rails of the Bitcoin Blockchain utilizing the Omni Layer Protocol. (Omni Layer, is the initiative to build a protocol layer over the Bitcoin blockchain and other systems, allowing users to transact with tokens with asset representations.)
As a result of this crowd-sale acquisition, BITCF will cause XOM to trade against more than 100 crypto and fiat currencies on its COINQX Exchange.(The company’s digital currency exchange at www.CoinQX.com)
This represented the company’s first purchases of an ICO due to the belief that the potential for branding in this new coin is substantial due to the fact that Bitcoin has been touted as the Internet of Money by prominent blockchain experts such as Andreas M. Antonopoulos, who wrote a popular book bearing the same title.
The phenomenon of emerging ICO popularity can be seen in the recent success of Gnosis which sold out in 12 minutes utilizing a Dutch auction. Riding on the rails of the Ethereum Blockchain, GNO claims to be a network where one can speculate on anything with an easy to use prediction market and already wields a hefty market cap of $117 million US dollars just in the float and over $1 Billion total market value.
An up and coming ICO that promises great success has attracted the backing of billionaire Tim Draper which is being created by Tezos Foundation in conjunction with Dynamic Ledger Solutions, Inc. The token is called a Tez (XTZ) which will ride on the Tezos Blockchain utilizing a self-governing ledger -when there are many XTZ, they will bear the cute nickname -Tezzies (tay-z-eez). (Source: OTC Disclosure & News Service)
While this may seem like alien-speak to some, one thing is for sure. Bitcoin, and indeed other crypto-currencies, are currently an unstoppable force, and the investment community is taking notice and reacting with a mad-rush to anything related. That’s why we’ll want to stay on top of BITCF and track its every move. Just stay locked to Street Register for updates, and we’ll deliver important developments on BITCF as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in BITCF stock, short or long.