STOCKHOLM, Aug. 3, 2018 /PRNewswire/ -- Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB), a Swedish technology company specialising in clean and efficient low-cost energy crypto currency mining, today announced its subsidiary, Blocktrade Technology Limited (BTT) launched an AI trading software platform. In its trial phase, traders utilizing the BTT crypto trading toolbox made +104% in May and June while the blockchain index fell by -59%.
"When Bitcoin's price started to fluctuate in early 2018 the team decided to direct its focus to profitability in a bear market," said Anthony Norman, CEO of Stockholm IT Ventures. "We are proud to announce that BTT has completed the development of a suite of AI and technical analysis tools as well as recruiting a team of cryptocurrency traders. In the past week, operations have been set up in the town of Gävle, two hours north of Stockholm, as well as a central Stockholm office, where the team has been working diligently, installing trading desks and testing the software. It is a dynamic and exciting workshop; a true boots on the ground operation."
Stockholm IT Ventures acquired BTT in 2017. At the time, the operational unit of a cryptocurrency marketing platform, BTT decided to discontinue its activities as its distribution network had inherited historic issues. At the end of 2017, the BTT team started development of an AI based cryptocurrency trading solution. The advantage of robot trading in Equity or Forex is big but the spread is always small. Robot trading in cryptocurrencies has a huge advantage as it benefits from significantly bigger spreads.
BTTs overall strategy is to provide its technology to individual traders, small trading firms, family offices as well as larger financial institutions. BTT trading packages include the most extensive collection of tools available for crypto traders today. Subscribing to the BTT crypto trading toolbox means that you have access to mote than 3500 markets, more than 45 exchanges and hundreds of bots, signals and indicators under the company's license. The toolbox is a narrow selection of the best tools available, evaluated on a day-to-day basis. The packages include different level of referral commission levels, ranging from 5-20% and access to our partnering bank's crypto investment club.
"The board of directors of Stockholm IT Ventures are excited about the product as it ties very well into its network and experience in more traditional banking and finance," continued Mr. Norman.
"We have succesfully positioned BTT as a player in the crypto space that is profitable under all market conditions," said Fredrik Waijnstad, Managing Director BlockTrade Technologies. "I'm pleased that we can generate profits without heavy exposure in capex as when doing traditional mining although we believe a mining operation is a well needed backbone of any full service provider in this space. Our AI trading toolbox offers the end customer a position where they can generate revenues and be well positioned when the next bull run hits the market."
Results from the trials will be published on a regular basis. Initially, a limited amount of clients will be allowed to buy the software.
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities shall use clean and sustainable energy from hydro power stations in Northern Europe, requiring less heat-generating energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn. Details on the company's Bytemine (BYTM) token and White Paper can be found here: www.bytemine.io.
About Blocktrade Technology
Blocktrade Technolgy (BTT) specializes in analyzing and developing tools to automate crypto trading powered by AI. During the last 6 months our team of analysts, developers and traders have been testing most of the available bots, signals and indicators on the market. Our aim has been to understand which will work long-term and to see thru scams and/or useless tools. Our efforts resulted in a constantly evaluated and updated BTT Crypto Trading Toolbox. The ultimate goal is to enable automated trading while maximizing returns. have added elements of machine learning and deep learning to our own programming. For more information, visit www.blocktradetech.com,
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SOURCE Stockholm IT Ventures