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Data Shows Cryptocurrency Market is Projected to Grow
9:00 am ET October 12, 2017 (PR Newswire) PrintBitcoin was traded near its all-time high on Wednesday. According to CoinDesk, the price of Bitcoin rose 2.11 percent to $4,855.08 during Wednesday's trading session. Bitcoin, the biggest cryptocurrency by market capitalization, has gained over 380 percent this year. According to CNBC's recent report, the former hedge fund manager Michael Novogratz sees the price of bitcoin could reach $10,000 in the next six to 10 months due to investor interest. The billionaire plans to invest $500 million in cryptocurrency-related companies. Global Blockchain Technologies Corp. (OTC: BLKCF), Bitcoin Services Inc. (OTC: BTSC), BTCS Inc. (OTC: BTCS), Digatrade Financial Corp. (OTC: DIGAF), MGT Capital Investments, Inc. (OTC: MGTI).
According to another new report from Market and Market, the cryptocurrency market was valued at USD 541 million in 2017 and is expected to reach USD 2.9 billion by 2023, with a GAGR of 32.31 percent during the forecast period. The report indicated that the benefits of compliance-free peer-to-peer transaction, cross-border remittance transfer, and increase in use cases drive the growth in the cryptocurrency market. The market is also segmented into the basis of offering, process, type, end user, and geography. The hardware segment, which is used for the mining purpose, had the largest share of cryptocurrency market in 2016.
Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the TSX Venture Exchange under the ticker symbol "BLOC". Earlier this week the company announced breaking news, "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."
Bitcoin Services Inc. (OTC: BTSC) are Internet based to the consumer and consist of two separate streams, bitcoin mining and blockchain software development. The company's principal products and services are the mining of bitcoins, and the development and sale of blockchain software. On August 10, 2017, the company announced that it launched a new corporate website. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017.
BTCS Inc. (OTC: BTCS) is an early mover in the blockchain and digital currency ecosystems. Recently, the company announced it has secured $1,000,000 in financing, which includes $250,000 (59.38) in bitcoin. Under the terms of the agreement, BTCS has closed on the first $100,000 of the financing. BGL funded $250,000 in bitcoin. "This financing represents a major milestone in the ongoing evolution of our Company," stated Charles Allen, CEO of BTCS. "With the opportunity in the burgeoning blockchain space is still in its infancy, our planned merger with Blockchain Global Ltd. positions us with a diversified business model that sets the stage for market leadership globally, and this financing represents a strong commitment to move forward."
Digatrade Financial Corp. (OTCQB: DIGAF) is a digital asset exchange, blockchain development and fintech advisory services company. On September 28, 2017, the company announced the execution of a Letter of Intent "LOI" for its Initial Coin Offering "ICO" with No Limits Consulting Limited based in Hong Kong. The project deck, currently under development, will include the leadership team, development team, new Digafund ICO platform & launch date, legal & accounting, regulatory compliance partnerships, white paper, token structure, use of proceeds and user guide registration for token activation among other items and requirements. As previously announced Digatrade is currently integrating the Ethereum Coin "ETH" onto the Digatrade platform to enable Digatrade customers and shareholders first access to register for the token release.
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 1, 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.
Source = TDAmeritrade
