LONDON, June 26, 2014 /PRNewswire/ --

Bitcoin has been the buzz word in the market for at least a year now as the digital currency continues to make waves (both large and small). There are some pessimistic or hesitant opinions out there about whether or not the currency has what it takes to become a fully functioning and practical alternative to conventional hard currency. However, with the increasingly fast rate at which large public companies are starting to accept payments in the form of Bitcoin, it is beginning to seem like the digital currency is here to stay.

DNA Precious Metals Inc 

Some argue that Bitcoin is the new gold. Both are used as safe alternatives to centralized currencies for storing assets. However, while gold has depreciated about 2% in the past month, Bitcoin has been experiencing an overall growth in its value (despite the wild fluctuations for which it is currently famous). Since April, the digital currency has skyrocketed more than 80% amid a flood of good press as well as wider acceptance and awareness.

DNA Precious Metals Inc (OTC: DNAP) is investing in both. On the 20^th of June, it officially acquired all Montauban Mine Property mining claims of Tectonic Resources. The acquisition consists of a total of 57 mining claims covering approximately 2,560 hectares in Canada.

In addition to their precious metal mining claims, DNA Precious Metals is expanding into Bitcoin mining through its wholly owned subsidiary DNA Crypto Corporation. The subsidiary has already received multiple inquiries about potential partnerships and investments- The board of directors at DNA Precious Metals Inc will go over each of these inquiries over the next two weeks.

The expansion into Bitcoin is a strong indicator of the versatility of DNA Precious Metals Inc. While the value of gold remains relatively stable and enduring, bitcoin is poised to see rapid growth. The company has firmly planted one foot in each so that it has a stronger position from which to grow.

Ebay and Others Accepting Bitcoin 

In May, Dish Network (NASDAQ: DISH) officially became the largest company to begin accepting bitcoin. The satellite television company will begin accepting payments in the third fiscal quarter of this year using the payment processor, Coinbase, which will convert the bitcoin payments automatically into cash in order to avoid the risk of price fluctuation.

John Donahoe, the CEO of Ebay (NASDAQ:EBAY), which also owns PayPal, announced that it would be working to integrate Bitcoin and other digital currencies into the popular payment platform. While many have been focused on the investment potentials of the currency, Donahoe has expressed interest only in its potential as a digital currency and how the technology can be used as a more convenient payment method than standard hard currencies.

Apple has changed its stringent policy against Bitcoin and other crypto currencies by finally allowing apps which perform transactions using them to be downloaded onto iPhones and iPads. The move from this technology giant is perhaps one of the biggest signals of Bitcoin's rising success as a viable currency.

Many big names in retail-such as Lord & Taylor, Overstock, and TigerDirect-have begun accepting Bitcoin for payments showing that both awareness and confidence in the currency. The increasing trend toward accepting Bitcoin has helped to spur resurgence in the currency's value. The increase in value is leading to a willingness to accept the currency. Ideally, this will become a continuous, self-propelled cycle allowing Bitcoin to experience its full growth potential and become a practical alternative currency which can be used for everyday purchases as well as for asset storage and investment.

Bitcoin Mining, Payment and Exchange Startups 

The increasing number of companies accepting Bitcoin has sparked a flood of investments from venture capitalists amounting to more than $200 Million for startups getting involved in the cryptocurrency.

$5 million of that went to the highly secretive 21E6, a mining company operating out of San Francisco. This company is taking a long position in Bitcoin as it invests heavily into Bitcoin mining technology in order to mine as many as possible with the belief that the future value of the currency will far outweigh the mining costs.

A host of startups are appearing all over the place which plan to make payments using Bitcoin much easier both online and in brick and mortar stores. Young companies like BitPay and SnapCard are developing products and services which will make Bitcoin a practical currency for consumers to use in their everyday shopping. SnapCard, for example, has even claimed that users will be able to pay their taxes using the cryptocurrency.

Newnote Financial Corp (FRA: DE: 1W4), another young startup and pioneer in cryptocurrency and Bitcoin software has seen a lot of success with its cloud hashing services. In the past month alone, the company has earned an estimated $78,000 in gross sales. The company has made a number of strategic new partnerships in order to secure its success in the burgeoning Bitcoin market on the consumer end.

The Problem of Instability 

One threat which continues to loom over any company or investor getting involved in Bitcoin is the dramatic fluctuations in value. As the digital currency struggles to establish itself as a viable currency, its value continues to skyrocket upward and then plummet downward in a wildly unpredictable trend.

This makes Bitcoin an extremely high risk currency for investors getting in before the currency has been fully adopted. Although Bitcoin use is higher  than it has ever been, this does not guarantee that it will endure and become a mainstream currency. This is largely due to the many concerns both consumers, merchants, and governments have regarding the new cryptocurrency.

Some companies have come up with effective strategies to deal with this uncertainty. For example, Dish Network immediately exchanges the bitcoins for cash. On the production end we have mining companies like DNA Precious Metals Inc which has secured itself against such instability by diversifying its assets.

The independently operating subsidiary, DNA Crypto Corp, will expand aggressively into Bitcoin mining while the parent company continues to secure mining claims for precious metals. In this way, it makes itself a particularly attractive investment as it offers the rapid growth potential appealing to that aggressive investor in all of us. At the same time, it offers the security and consistency long associated with gold so that even value investors may become interested in adding DNA Precious Metals Inc to their portfolio.

Future Outlook 

It is difficult to make a prediction one way or the other when it comes to Bitcoin. It is notoriously volatile and famous for its overnight hikes and drops. However, one could tentatively stay that, despite the wild fluctuations, the digital currency has moved steadily in the direction of increased acceptance and broader awareness meaning that it is on the path toward becoming a viable currency even if it is at the beginning of this path. In any case, it is no longer something Wall Street can afford to ignore.

With that in mind, companies like DNA Precious Metals Inc which are getting in on the ground floor stand to see astonishing rates of growth as some analysts estimate Bitcoin could reach values in the tens of thousands. Investors today are here at exactly the right time to invest in these innovative companies to make sure they see their share of the explosive profit potential. Choosing companies with solid business strategies and a secure foundation will help mitigate the relatively high risk involved in such an investment.

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