Monday, 30 November 2020

Recent Development Indicates Bitcoin Progress

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  • PRN | 3 years ago

NEW YORK: Bitcoin continues to be the most desirable cryptocurrency. According to data provided by Crypto Coins News, Bitcoin's share of the total market cap fell as low as 34pc after entering the year at 88pc throughout 2017.


The year's crypto bull market resulted in a strong expansion of various different types of coins. In addition, the increasing popularity of initial coin offerings also reduced bitcoin's market cap share. Yesterday, bitcoin's share of the market increased to nearly 54%, its highest mark since May. Crypto Coins News reported that the price of bitcoin price was trading at a global average of $4,877 on Monday, which represents a 24-hour gain of 7% and brings bitcoin within $123 of the $5,000 threshold. Global Blockchain Technologies Corp. (OTC: BLKCF), Overstock.com, Inc. (NASDAQ: OSTK), Global Arena Holding Inc. (OTC: GAHC), MGT Capital Investments, Inc. (OTC: MGTI), Bitcoin Investment Trust (OTC: GBTC)

In recent news reported by Coindesk, Oracle is officially a player in the world of blockchain. Frank Xiong, Oracle's group vice president of Blockchain Cloud Service, explained, "This blockchain platform will give them a platform to extend their services beyond their enterprise bundle, which means they can extend them outside to their business partners, advantage customers and so on... In traditional computer science, there is just one copy of the database. In blockchain, all of the ledgers are distributed, so actually everybody gets a copy [of the data]. So this is only going to expand that data storage [requirement]."

Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the TSX Venture Exchange under the ticker symbol "BLOC ". Just earlier today the company announced breaking news that, "the appointments of its new management team consisting of Mr. Steven Nerayoff as Chairman, Mr. Rik Willard as CEO, Mr. Shidan Gouran as President and Mr. Kyle Kemper as Chief Strategy Officer.

Mr. Steven Nerayoff, Esq. LL.M. (Chairman) is a prolific serial entrepreneur and attorney having founded six companies in both Silicon Valley and New York. He is an early pioneer and leader in the Blockchain industry and a senior advisor to Ethereum and Lisk and personally coined the terms "Gas" or "Fuel" to describe the functionality within Ethereum's protocol. Steven advised and contributed to Ethereum from its earliest days, created the initial legal framework and co-drafted the crowdsale model which set the standard for all other crowdsales to follow. Through his venture capital firm, Maple Ventures, Steve has been the lead investor in some of the most successful Blockchain and Cryptocurrency ventures. He has also been a senior advisor to some of the most promising Cryptocurrency projects including Factom, Lisk, ZCash and Bancor...

Mr. Rik Willard (CEO) is a pioneer in the Blockchain sector, he founded the Agentic Group LLC., a 51-company federation on 5 continents supporting and developing the blockchain and "Internet of Value" ecosystems through consulting, business development, industry events, and more. Clients include: The Grand Duchy of Luxembourg, The Port of Rotterdam, The Hague, MOOG, BNY Mellon, Citco, MIT Media Lab, MIT Sloane and others. Prior to the Agentic Group, Rik was the CEO of MintCombine, a global incubator and product lab for Blockchain ventures, headquartered in New York City. MintCombine was also one of the founding sponsors of the Beyond Bitcoin Expert Calling Network...

"I am thrilled to join Global Blockchain and to welcome this leading team and advisory board," stated Steve Nerayoff incoming Chairman. "The breadth of experience and versatility the new team brings to the Company will be invaluable as GBT aims to become the first public company investing in vertically integrated originators and managers of top tier blockchains and digital currencies, with a view to providing investors access to a basket of holdings within the blockchain space."

Overstock.com, Inc. (NASDAQ: OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, decor, rugs, bedding, and home improvement. On August 08, 2017, the company announced an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, decor, rugs, DIY, and more. ShapeShift allows digital currencies to be easily converted between different coin types in a matter of seconds, all without any account setup or personal data required. Instead, the funds are sent to a specific address, with the blockchain record of the transaction acting as both the order and the receipt.

Global Arena Holding Inc. (OTC: GAHC) is a holding and technology development company. The company are focused on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology. GAHC incorporated GAHI Acquisition Corp. to be the merger subsidiary for the acquisition of Blockchain Technologies Corporation. Currently, GAHC and BTC have entered into an acquisition arrangement where BTC will merge with GAHI Acquisition Corp. BTC is a technology company which leverages the underlying crypto technology of Bitcoin, acting as a seed accelerator. BTC currently features a number of innovative startups utilizing the Blockchain and operating within the crypto technology field.

MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the company continues to focus on an expansion model to grow its crypto assets materially. On September 01, 2017, the company announced that it has increased its purchase order with Bitmain Technologies for an additional 500 S9 Antminer Mining rigs, with shipment expected in mid fourth quarter 2017. Following shipment and setup, and in conjunction with the Company's current rigs in operation, MGT's Bitcoin mining operations are expected to generate approximate $1.4 million in monthly revenue, assuming current pricing and difficulty rates. Stephen Schaeffer, President of MGT Crypto-Capital Strategies, stated, "We appreciate the confidence of a well-informed investor to provide us with capital to more quickly roll out our expansion. Furthermore, we look forward to updating the investment community and shareholders with further progress."

Bitcoin Investment Trust (OTCQX: GBTC) enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins. The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin. Grayscale Investments, LLC, the sponsor of the Bitcoin Investment Trust, announced that it continues to work with the Trust's professional advisors and third-party service providers to understand the implications for the Trust of the fork in the Bitcoin blockchain that resulted in the creation of Bitcoin Cash.

Recent Development Indicates Bitcoin Progress

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