FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF)
FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) stock is rocketing. BITCF stock is up over 50% by 1PM EST on heavy volume. First Bitcoin closed on Friday at $1.49. The stock gapped up to open this morning at $1.87 and has hit an inter-day high of $2.40. Over eight million shares of BITCF have traded hands when the listed 30-day average volume figure is just 1.1 million.
Today Bitcoin went over the $4,000 mark and Ethereum went over $307. These events likely the reason First Bitcoin’s BITCF stock is rocketing. An analyst from Standpoint Research, Ronnie Moas, raised his bitcoin price target to $7,500 from the current $5,000. He also announced that he expects the total value of the crypto-currency market to total Two Trillion dollars. Bitcoin has more than quadrupled YTD while Ethereum has gained over 3,000%. Not surprisingly, there is an abundance of rumors that institutional investors will soon be entering the markets in a major fashion. It should be noted that Bitcoin represents about 50% of the total value of the crypto-currency market.
FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) claims to be the first vertically integrated, publicly traded Bitcoin company. First Bitcoin will pursue it business goals that include the acquisition of Bitcoin start-ups, fund raising, and investing in crypto-currency software and hardware. The company plans to be a player in the following industry sectors:
- Digital currency mining;
- Developing digital currency exchanges to provide liquidity to the crypto-currency market;
- Develop goods and services that will utilize a crypto-currency payment application; and
- Develop technologies to enhance and develop the digital currency market.
Investors should complete their due diligence before investing in crypto-currencies. There is no regulation as with federally sanctioned stock exchanges. In 2014, trhe world’s largest Bitcoin exchange, Mt.Gox, was hacked and Bitcoin values plummeted over 50% as the hacked exchange had over $500 million worth of Bitcoins stolen from its servers.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $BITCF and receive breaking news on other hot stocks by signing up for our free newsletter!
About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.