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Established Companies Positioning to Invest in Blockchain and Cryptocurrencies


News provided by

NetworkNewsWire

23 Jan, 2018, 13:30 GMT

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NEW YORK, January 23, 2018 /PRNewswire/ --

NetworkNewsWire Editorial Coverage

Despite the skepticism in the market about the legitimacy and longevity of bitcoin and other cryptocurrencies, the underlying blockchain technology is something that tech firms and the financial sector cannot ignore. While cryptocurrencies' surging values and wild price fluctuations have made many established organizations reluctant to invest in this market, Bloomberg reports that Goldman Sachs is setting up a trading desk for cryptocurrencies (http://nnw.fm/ayFK8). This positions the company to be the first large Wall Street investment banker to trade in digital currency. Businesses such as ChineseInvestors.com, Inc. (OTC: CIIX) (CIIX Profile) are taking advantage of the deeper rooted blockchain market that seems to offer infinite application. Xunlei Limited (NASDAQ: XNET), a cloud-based computing company, is another company extending its reach by incorporating blockchain technology in its offerings, and still others showing interest in the cryptocurrency, bitcoin and blockchain sector include MGT Capital Investments, Inc. (OTC: MGTI), Riot Blockchain, Inc. (NASDAQ: RIOT) and the retailer Overstock.com, Inc. (NASDAQ: OSTK).

The number of corporate investors in blockchain companies hit a record high in 2017, with large banks and financial service organizations leading the way. Among the growing list of recognizable names, Google's parent company, Alphabet Inc. , is another big investor in blockchain (http://nnw.fm/guBC3). Increased application and acceptance are subsequently pushing the value of cryptocurrencies, the tokens used in blockchain technology, higher. In 2017, they surged to $600 billion from just over $18 billion at the start of the year (http://nnw.fm/wVAZ0 ).

Additionally, initial coin offerings (ICOs) are overtaking traditional funding options for blockchain start-ups. Several huge deals were negotiated during 2017, including the $107 million raised by R3, a company developing a blockchain database for use by global financial institutions. Coinbase, a digital currency exchange based in San Francisco, raised $100 million in equity funding.

Committed to Cryptocurrency 

ChineseInvestors.com, Inc. (OTCQB: CIIX) was founded in 1999 and has developed into a leading financial website for Chinese-speaking investors in China and the United States. The company's clients trade in the OTCQB Venture Market, NASDAQ and NYSE public markets, among others. With a core focus on investor education, the site offers various products and services such as real-time market analysis, commentary and investment education. The company also offers advice to smaller companies on growth strategy, while providing support services for advertising and public relations.

ChineseInvestors.com saw its first-quarter investor relations (IR) revenues grow 186 percent over comparable revenues reported in the first quarter of 2017. During the 2017 fiscal year, the company's IR sales made a 130-percent, year-over-year leap to $808,362 (http://nnw.fm/53Ge6). ChineseInvestors.com is becoming more selective about its client companies in the process, and is entering into more cash compensation arrangements. Now it proposes to extend its educational coverage to bitcoin and the cryptocurrency market.

The company has stated its commitment to the future of bitcoin and other cryptocurrencies, and has thus decided to spin off its wholly owned cannabis subsidiaries (CBD Biotechnology Co., Ltd. and ChineseHempOil.com) to focus efforts on its new cryptocurrency division. Despite China's ban on cryptocurrency trading on domestic regulated exchanges, company CEO Warren Wang remains highly optimistic about the future of bitcoin and other cryptocurrencies, noting that Chinese investors are bypassing the ban to trade on unregulated offline platforms.

In an interview with the Bad Crypto Podcast, Wang said: "The Chinese investor is an advocate of gambling. Most today trade bitcoin and other cryptocurrencies on the offline market. The Chinese-speaking people within China and also in North America - the U.S. and Canada - are excited about bitcoin."

Cryptocurrency also provides investors the ability to diversify their portfolio and shift away from traditional investment opportunities.

"Real estate is very expensive and so are labor and rents in China. Investors have a high savings rate. They now would like to make bitcoin and other cryptocurrencies part of their assets. They are trading offline on platforms of decentralized exchanges to do so," Wang explained.

With a strong commitment to cryptocurrency education and awareness, ChineseInvestors.com broadcasts a daily video, called Bitcoin MultiMillionaire, from the NYSE. The company also hosts and has installed a Bitcoin ATM in the lobby of its headquarters in San Gabriel, California. This installation enables the company to reach the Chinese-speaking community worldwide with bitcoin marketing, even though Chinese regulators have banned sales of bitcoin.

"Although there has been some volatility in the cryptocurrency market, Bitcoin's price resilience is impressive … With each rebound in price relative to news, we see more evidence that the concept of digital currency is taking root with investors and the general public alike," Wang stated in the press release (http://nnw.fm/mU7QS). "In addition to providing skilled investors with news about digital currency, ChineseInvestors.com, Inc. hopes to satisfy the average person's curiosity about cryptocurrency, including how to purchase Bitcoin. Moreover, the underlying Blockchain Technology is extremely compelling and we expect to see many interesting developments in this area. Bitcoin ATMs are just one example of how this area is moving forward. We are excited to make this service available to the Chinese community."

Wang advised industry entrepreneurs to be patient with Chinese investors while they learn about digital wallet management and the processes for trading in bitcoin and other cryptocurrencies. He expressed confidence that China may organize a regulated market for cryptocurrency trading in the future.

Comparable Companies 

Multinational technology company Xunlei Limited (NASDAQ: XNET) is an online service provider investing in cryptocurrency from its base in Shenzhen, China. The company's cloud-based platform enables users to access, manage and consume digital media content. Its Xunlei Accelerator product enables users to accelerate digital transmission over the internet through various products, such as Green Channel and Offline Accelerator. Mobile Xunlei allows users to search, download and consume media content on mobile devices. Xunlei's OneThingCloud is a LinkToken mining platform designed to be mobile-compatible for digital currency mining. Mid-October 2017, the company launched OneCoin, a cryptocurrency that has experienced a dramatic increase in value, more than 80-fold since launch.

MGT Capital Investments (OTCQB: MGTI) focuses on acquiring and developing a portfolio of cyber security technologies. The company also addresses various cyber threats through the implementation of protection technologies for mobile and personal devices, as well as corporate computer networks. MGT is also actively engaged in bitcoin mining. In December 2017 the company announced its agreements to secure reliable and adequate electric power in Sweden and that it expects to start deployment of mining rigs early in 2018. The initial phase of the agreement will provide MGT with 25 megawatts of power, enough for more than 15,000 Bitmain S-9 mining rigs.

Originally known as Bioptix Pharma, Riot Blockchain (NASDAQ: RIOT) has experienced rapid growth following its decision to reorient its focus from biopharmaceuticals to blockchain technology. The company's stock soared from $7 in November 2017 to over $46 in mid-December. Riot Blockchain's mission is to establish itself as an authority on blockchain technology, while offering investors valuable exposure to the blockchain market. The company invested in Verady, LLC, which provides accounting and auditing services to the digital currency market. It also owns a share in Coinsquare, a Canadian-based cryptocurrency exchange. Riot Blockchain has majority ownership of TessPay, a blockchain-based payment resource for wholesale telecom carriers.

Overstock.com (NASDAQ: OSTK) is a U.S.-based online, award-winning retailer which, through its Medici Ventures INC subsidiary, is also focused on blockchain applications with the potential to disrupt industries such as capital markets, finance and banking, property registration and voting identity verification. Medici recently raised over $2.2 million in a seed funding round for mobile voting platform, Voatz, which aim to use blockchain technology and biometrics improve voting infrastructure security (http://nnw.fm/4nqGD).

Many companies are concerned about the volatility in the cryptocurrency market. However, there is increasing acceptance that blockchain technology is here to stay and will continue to have a growing impact on the way the world transacts and does business. These companies are taking the lead by positioning themselves to capitalize on this opportunity and develop their enterprises as leaders in this industry.

For more information on ChineseInvestors.com, please visit: ChineseInvestors.com (OTCQB: CIIX)

About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by NNW are solely those of NNW. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW for any investment decisions by their readers or subscribers. NNW is a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.

NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.  The forward-looking statements in this release are made as of the date hereof and NNW undertakes no obligation to update such statements.

NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).

About IBN
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