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MGT TO BE A BITCOIN PLAYER


We told our readers and subscribers earlier this month that MGT Capital Investments Inc (NYSEMKT:MGT) was locked in a bull/bear battle. Well, after a few days of sideways action, the bulls have emerged victorious and shares of MGT are climbing again. As the old saying goes, “what can’t go lower, must go higher.” This adage is certainly holding true and comes as John McAfee positions MGT to be a major player in the Bitcoin space. Judging by Bitcoin’s recent move higher, we certainly agree with this move and proves that McAfee is proving to be a wily adversary for the bears.

MGT Capital Investments is in the process of acquiring a diverse portfolio of cyber security technologies. With cyber security industry pioneer, John McAfee, at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smart phones. The Company is currently in the process of acquiring D-Vasive, a provider of leading edge anti-spy software, and Demonsaw, a provider of a secure and anonymous file sharing software platform. MGT Capital intends to change its corporate name to “John McAfee Global Technologies, Inc.” upon closing of the D-Vasive transaction.

The focus on bitcoin is a smart move because of current global uncertainties. Investors are concerned over Brexit, Fed rate hikes, a strengthening yen, rising gold prices, and the upcoming US Presidential election. As a result, there’s been a rush to safety and Bitcoin is benefiting. MGT got the ball rolling when it appointed Roger Ver as the Chairman of the Company’s newly formed “Cryptocurrency Advisory Board.” The goal of the Cryptocurrency Advisory Board is to ensure that MGT remains current in the protection of this critical field and provide the most state of the art products to its customers.