Global Arena Holding Inc. (OTCMKTS:GAHC)
Global Arena Holding Inc. (OTCMKTS:GAHC) investments in blockchain technology and startups appear to be paying off if its performance in the market in recent weeks is anything to go by. The stock has come to light in the recent past and is currently trading at its 52-week high.
The stock’s bullish tone does not come as a surprise given that the company is among the few companies offering exposure to Bitcoin. The bitcoin space remains the talk of the Street, the digital currency having been on an impressive run to current highs of $2,834. Talk of Bitcoin replacing traditional reserve currencies explains why investors are starting to look at companies that have a bitcoin-centric business model.
Global Arena Holding Inc. (OTCMKTS:GAHC) operates a subsidiary by the name GAHI Acquisition Corp that offers crypto-type services through the application of the blockchain technology which underpins Bitcoin. The fact that blockchain can be used on various areas of tech and finance means the company remains exposed to unique opportunities for growth.
Global Arena Big Plan
In a bid to take advantage of the growth in demand for blockchain technology and Bitcoin, Global Arena has already started to work on its own type of applications that leverage the two. Such applications involve applying blockchain in ATM machines, smart contracts, wills, and even voting machines.
Getting a head start on this application is key if a technology company is to stand a chance in competing against other companies with huge financial muscles. As bitcoin and blockchain become more mainstream Global Arena Holding Inc. (OTCMKTS:GAHC) could be able to generate a substantial amount of revenues.
Global Arena Holding Inc. (OTCMKTS:GAHC) stock exploded in Monday’s trading session. The stock was up by 107.69% and ended the day at $0.0540 a share. The big question now is whether the stock has what it takes to sustain the rally having registered a new 52-week high and trading at the high end of its tight trading range of $0.03 – $0.05 a share.
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.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.