Bitcoin Price Hits a New All-time High FinancialBuzz.com News Commentary
PR Newswire 13-Oct-2017 9:00 AM
NEW YORK, October 13, 2017 /PRNewswire/ --
Bitcoin price rose to a new all-time high on Thursday due to increasing investor interest in the cryptocurrency. The price of bitcoin jumped 11.28 percent to $5,375.72 during Thursday's session, according to data from CoinDesk. The new record surpassed its previous high of $5,013.91 on September 2nd. The recent rally in Bitcoin brings its market capitalization to about 89 billion. Bitcoin is the biggest digital currency by market cap, accounting for over 54 percent of the total cryptocurrency market. Bitcoin was up about 23 percent this month and has gained over 430 percent year-to-date. Chineseinvestors.com, Inc. (OTC: CIIX), Bitcoin Investment Trust (OTC: GBTC), Riot Blockchain Inc. (NASDAQ: BIOP), Overstock.com, Inc. (NASDAQ: OSTK), Global Arena Holding Inc. (OTC: GAHC)
Speculation that China may resume cryptocurrency trading and increasing trading volumes in other Asian countries such as Japan and South Korea boosted bitcoin prices. According to a report from Cryptocoinnews.com, the Chinese government is considering licensing exchanges for cryptocurrencies. Last month, the world's second largest economy banned initial coin offerings (ICOs) and shut down operation of cryptocurrency exchanges, which caused a bitcoin price drop to a low of $2,980 in mid-September. "Speculators are bullish on bitcoin's value with the anticipation of China's reintegration with global crypto markets," Aurelien Menant, CEO of cryptocurrency exchange Gatecoin, said in a CNBC report on Thursday.
Chineseinvestors.com, Inc. (OTCQB: CIIX) announced earlier this week that, "the Company has launched the first cryptocurrency daily video newscast in the Chinese language, entitled Bitcoin Multimillionaire, broadcast from the NYSE. The video newscast covers timely information and analysis regarding all aspects of the emerging digital currency world, including specific cryptocurrencies, such as Bitcoin and Ethereum, industry trends, price movement, blockchain technology, and sector-related stocks and ETFs listed on major exchanges and the OTC market."
"Many Chinese investors are seeking information and education related to the cryptocurrency sector," saysWarren Wang, Founder and CEO of CIIX. "Moreover, in response to the growing popularity of cryptocurrencies and ICOs, governments around the world, including but not limited to,the United States,China,Japan,South KoreaandSwitzerlandare weighing in and/or enacting regulatory policies regarding cryptocurrencies and ICOs. Inthe United States, Goldman Sachs Group Inc. recently announced that it is considering a new trading operation dedicated to bitcoin and other digital currencies."
In addition, CIIX also has plans to launch a new cryptocurrency website under the domain name newcoin168.com to serve Chinese cryptocurrency investors. The site, expected to launch next month, will endeavor to be a leader in digital media and cryptocurrency and blockchain technology education providing straightforward explanations of cryptocurrency basics, trading guidelines, real-time market commentary and analysis regarding currency mining, blockchain technology, industry hotspots, sector-related stock trends and ETFs, and other strategies and opportunities to capitalize on the bitcoin market.
"After the recent launch of our Bitcoin Multimillionaire daily video newscast, the Company has decided to further expand its presence in the digital currency sector," says Wang. "Similar to U.S. stocks, as the price of digital currency, such as Bitcoin, continues to increase, Chinese people all over the world are taking notice and seeking access to timely information regarding market trends, news, and analysis. We look forward to being the premier source for this information."
Bitcoin Investment Trust (OTCQX: GBTC) is a publicly-quoted security that is solely invested in and originating value from the price of bitcoin. The BIT exposes the value and price movement of bitcoin to investors through a traditional investment vehicle, without requiring the purchase, storing and safekeeping of bitcoins. The Bitcoin Investment Trust tracks the bitcoin market price, fees and expenses.Riot Blockchain Inc. (NASDAQ: BIOP) leverages its expertise and network to build and support blockchain technology companies. Recently, the company announced it has made a strategic investment in Coinsquare Ltd., one of Canada's leading exchanges for trading digital currencies. This investment into a blockchain-focused company is indicative of similar opportunities Riot Blockchain plans to pursue, including possible acquisitions of businesses serving the blockchain ecosystem. Blockchain protocols offer a secure way to store and relay information without the need for middlemen. It uses a decentralized and encrypted ledger that offers a secure, efficient, verifiable, and permanent way of storing records and other information. Blockchain protocols are the backbone of numerous digital cryptocurrencies including Bitcoin, Ethereum and Litecoin.Overstock.com, Inc. (NASDAQ: OSTK) is the first major retailer to accept multiple cryptocurrencies as payment. On August 8, 2017, the company announced an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, dcor, rugs, DIY, and more. ShapeShift allows digital currencies to be easily converted between different coin types in a matter of seconds, all without any account setup or personal data required. Instead, the funds are sent to a specific address, with the blockchain record of the transaction acting as both the order and the receipt.Global Arena Holding Inc. (OTC: GAHC) is a holding and technology development company. The company is focused on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology. GAHC incorporated GAHI Acquisition Corp. to be the merger subsidiary for the acquisition of Blockchain Technologies Corporation ("BTC"). Currently, GAHC and BTC have entered into an acquisition arrangement where BTC will merge with GAHI Acquisition Corp. BTC is a technology company which leverages the underlying crypto technology of Bitcoin [Blockchain], acting as a seed accelerator.BTC currently features a number of innovative startups utilizing the Blockchain and operating within the crypto technology field.
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