Bitcoin price soaring to highs of $3,000 should be good news for shareholders of BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC). The company has been one of the biggest beneficiaries of the rally, given that its core business revolves around bitcoin mining and blockchain software development.

Bitcoin Services Operations

The crypto currency’s price rally continues to affirm Bitcoin Services fundamentals on the back of growing investor sentiment. The company’s principal products and services should continue to elicit strong demand as investors around the world continue to look for ways to gain exposure to a virtual currency that is threatening to replace hard currencies.

The market for Bitcoin Services and products is worldwide, something that has helped support speculation that its stock will continue to edge higher as Bitcoin clocks new higher highs. The company is pursuing opportunities around the currency on three frontiers – as an escrow service provider, bitcoin blockchain developer, and as a bitcoin miner.

The escrow service should continue to act as a safe haven for the company’s diversified operations. BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) currently holds buyer’s coins in escrow and releases them when both parties are satisfied on a transaction. This means that the company will can act as a middleman as long as online transactions are executed using the crypto-currency.

The Bitcoin Mining business, on the other hand, entails running an SHA256 round hash verification process to validate bitcoin transactions. The business also provides a requisite security for the public ledger.

“The Bitcoin network compensates Bitcoin miners for their effort by releasing Bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued Bitcoin and from the transaction fees included in the transactions validated when mining Bitcoin. The more computing power you contribute then the greater your share of the reward, “said the company.

Stock Performance

BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) impressive run this year has mostly had to do with a Bitcoin Scaling Agreement signed early in the year. The agreement brought together multiple bitcoin companies helping push hashing power to 80%. The agreement has also provided the companies with exposure to over 20.5 million bitcoin wallets with an average of $5.1 billion in monthly transaction volume.

Even though BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) boasts of diversified operations, its future is highly dependent on how the crypto currency trades going forward. The crypto currency’s higher valuation can only affirm the stock’s sentiments on The Street. However, growing concerns over a possible market bubble could hurt investor’s sentiments on the stock.

BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) shed 10.46% in market value in Monday trading session, to end the day at $0.0805 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.

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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.

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