Insider financial out today with a real positive article on CNBC.
OTC STOCKS #2 CBTC
XTRA Bitcoin Inc has bounced back after bottoming out on September 22 at $0.0026, which is the lowest since December last year. The share price has surged by four times since then to peak on Wednesday at $0.011, which is the highest since May. The Pink Current stock peaked in February at over $0.035.
XTRA is a Bitcoin mining company that operates in North America. The $20 million company is focused on expanding operations by increasing its Bitcoin mining hash rate and infrastructure capacity.
The company is leasing 2.5MW capacity and facilities and is currently raising funding to develop a 10MW Bitcoin mining facility in 2.5MW phases.
Investors are excited about the new website that has been updated recently.
Meanwhile, CBTC CEO Paul C Knudson has managed to get the Pink Current status for its real estate business Protocall Technologies, Inc, which demonstrates his ambition and competence.
More importantly, the share price of CBTC has been driven by the surge in the price of Bitcoin itself, which is currently trading near $55,000, which is the highest since May, this becoming a $1 trillion market again.
The largest cryptocurrency by market cap has managed to break above a strong resistance at $48,000, which was tested several times in September and October. Bitcoin benefits from improved sentiment on crypto and increasing concerns that new COVID variants could delay the global economic recovery.
Matt Blom, global head of sales trading at the digital-asset firm Eqonex, said in a newsletter seen by Coindesk:
“If the bulls are looking for a pain point, then the next stop is $60,000, and if they don’t find a pocket of shorts to force out, then confidence will only grow.”
Denis Vinokourov, head of research at Synergia Capital, said that the main factor driving Bitcoin at the moment was the US Securities and Exchange Commission (SEC) Chair Gary Gensler’s statement to Congress on Tuesday that the financial watchdog had no plans to ban cryptocurrencies.
Needless to say, mining profitability benefits from an increase in the Bitcoin price, so CBTC is a winner.
We also like the company’s share structure, with over 2 million outstanding shares against 2.9 million authorized shares. CBTC is a solid crypto play to own
