HUTN - EF Hutton Unit is Licensing Hedge for Bitcoin
Press Release | 10/10/2018
EF Hutton Inc., a subsidiary of HUTN, Inc. (OTC: HUTN) today announced it has licensed intellectual property ("IP") that provides a means of hedging Bitcoin ("BTC") to The Bitcoin Hedge Foundation. The license royalty receivable by EF Hutton is approximately twelve percent of the hedge value. To illustrate, if the value-added is $200 million, which represents only 1/2% of the value of all Bitcoin, then the to EF Huttons from the license would be approximately $24 million. It is not yet possible to determine the royalty because the actual hedge value not yet known however hedges of other instruments, such as a short-interest on NYSE stocks, have a value of nearly zero to forty percent of the float, as of October 8, 2018, according to short interest data published by the Wall Street Journal. EF Hutton will use any royalty income for working capital, to redeem debt and to fund expansion, including acquisitions.
EF Hutton filed for patent protection earlier this year encompassing this solution. The solution will be introduced by The Foundation in October 2018 and made available to all Bitcoin holders. Bitcoin has a total value of $113.74 billion. 17,312,000 bitcoin are outstanding at a price of $6,570 as of 10:30am on October 9th, according to blockchain.com. down from a high of over $19,357 per Bitcoin. During the market decline in the last 10 months, many BTC holders have desired a hedge that would enable them to mitigate losses and lock-in gains. Consequently, there is substantial pent-up demand for a viable hedge.
EF Hutton developed this solution over many months and has worked with world-renowned economists and mathematicians to refine the intellectual property that underlies this solution. In addition to the EF Hutton team, a series of world-class experts have contributed to this solution including PhDs with expertise in Mathematics and Economics.
The Bitcoin Hedge Foundation is a recently formed non-profit organization whose mission is to make BTC more widely appealing. The ability to mitigate volatility and protect downside exposure is within the Foundations mission. In order to ensure wide-scale benefits from this solution, it will be made available to Bitcoin holders at no charge through select exchanges with an initial air-drop-style approach. The Foundation will soon provide more information about the coin on www.bitcoinhedge.io
The solution will be available to all Bitcoin holders and others and will involve a mining process to mint a coin through a process that requires proof of work. The mining process and reliance upon blockchain technology are consistent with the P2P nature of this market. In order to ensure wide-scale adoption of this solution, it will be made available to Bitcoin holders at no charge through select exchanges with an initial air-drop-style approach.
EF Hutton CEO, Christopher Daniels said, EF Hutton has always been an innovator and this development is consistent with the history of our brand. It is an undisputed fact that EF Hutton predecessors developed online trading, universal life insurance and the fee-only financial advisor model that is todays standard model for delivery of financial advice. We are proud to continue the legacy of Edward F. Hutton with a new innovation that satisfies a significant market need.
Continuation of EF Hutton Leadership in Digital Assets
EF Hutton has recently announced several activities involving digital assets such as virtual currencies. Last week, EF Hutton announced MeggaCoin, a private utility token, enabling people to get paid as they use meggalife.com and its associated social Apps. Earlier this month, EF Hutton announced it is providing research on Coins, Tokens and other cryptocurrencies and on companies involved in blockchain technology. The research is available for subscription at efhutton.com/crypto-research. Learn more at www.efhutton.com
HUTN Inc. is the parent company of both EF Hutton Inc. and Megga Inc. and the parent company shares are publicly available under the symbol HUTN.
