Elray Resources Inc (ELRA)

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ELRA Expected to Provide Update on Bitcoin Credit Exchange Shortly

Last Updated: Dec. 26, 2013 - 1:50pm EST

(NEW YORK)--Elray Gaming, Inc. (OTC:ELRA), a provider of online and mobile gaming turnkey solutions, may be positioned for a move upward as company prepares to provide update on pending launch of their Bitcoin credit exchange in the coming days.

Bitcoin prices sky rocketed on news from a US Senate hearing that there will be no immediate plans to regulate the new virtual currency. The market interest in Bitcoin prices may spill over to ELRA as one of the only publicly traded Bitcoin stock plays in the US market.

Since its recent run to $0.15 in November, ELRA stock price has retraced sharply back to just below $0.04 per share, mostly due to reaction from Chinese comments regarding Bitcoin and market stepping to sidelines in anticipation of exchange actual launch. The Company CEO is expected to provide a status update on this current exchange, and provide guidance on what could be expected as the new year rolls around.

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