The price of bitcoin continues its rally as the demand for the cryptocurrency surges. According to CoinDesk, the world's biggest cryptocurrency surged past $16,000 for the first time on Thursday, just a day after it crossed the $14,000 mark. Bitcoin was traded higher on the Coinbase exchange where it reached a record high of $19,340 during Thursday's trading session. Coinbase is one of the major cryptocurrency exchanges. Recent developments in the cryptocurrency market help drive the bitcoin price higher. Investors expect that the upcoming launch of bitcoin derivatives could further boost mainstream demand for bitcoin. Chineseinvestors.com, Inc. (OTC: CIIX), MGT Capital Investments, Inc. (OTC: MGTI), Global Arena Holding Inc. (OTC: GAHC), BTCS Inc. (OTC: BTCS), HIVE Blockchain Technologies Ltd. (OTC: PRELF)According to Coinmarketcap, the bitcoin cryptocurrency now has a market capitalization of over $277 billion, accounting for nearly 65 percent of the total value of the cryptocurrency market. According to Forbes, Neelabh Dixit, co-founder of digital asset management firm Cryptomover, said, "In fact the market already looks like it is getting ready for the 20k price level before December 10, when futures trading begins…While the big institutions start trading BTC futures this Sunday onwards we feel that there is a good chance that some of them might want to get some BTC in their books before the end of the year as there will be good amount of opportunities."
Chineseinvestors.com, Inc. (OTCQB: CIIX) announced earlier this week that, "it has entered into an agreement with Blockchain BTM, LLC to host a Bitcoin ATM at its San Gabriel, California office with plans to expand to serve other Chinese Communities throughout the United States. The Bitcoin ATM, located in the lobby of the Company's offices in the highly trafficked San Gabriel Hilton Plaza, is open from 9 a.m. to 6 p.m., Monday through Friday, making it convenient and easy to purchase Bitcoin. Purchasers will have access to on site customer service representatives available to provide instruction regarding the Bitcoin ATM in both Chinese and English. The machine however offers translation into five languages including traditional and simplified Chinese, English, Spanish, French and Korean.
Cryptocurrency enthusiasts can purchase up to $7,000 worth of Bitcoin daily from the ATM. If the purchaser does not already have a digital wallet to hold the cryptocurrency, the ATM is able to digitally print a wallet. Alternatively, there are many digital wallet smartphone apps available for download for Android and iPhone. For those that wish to make a more significant investment, over $7,000, the Company can provide information on how to facilitate much larger transactions.
In recent weeks the Company unveiled its new cryptocurrency education and information services, including the first Chinese Daily Video Newscast, Bitcoin Multimillionaire, broadcast from the NYSE covering Cryptocurrency and Blockchain Technology. In November the Company launched a free bitcoin news and education website in the Chinese language under the domain name newcoins168.com to serve Chinese cryptocurrency investors globally. In addition, the Company will launch new cryptocurrency subscription products in January 2018."
"Although there has been some volatility in the cryptocurrency market, Bitcoin's price resilience is impressive, reaching over $11,000.00 in the last week, with a Friday close of $10,814. 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," says Warren Wang, Founder and CEO of CIIX. "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."MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. On December 6, 2017, the company announced that it has executed a new purchase order with Bitmain Technologies for an additional 500 S9 Antminer mining rigs, with shipment expected early in the first quarter of 2018. Following shipment and setup, and in conjunction with the Company's current rigs in operation or in its possession, MGT's Bitcoin mining operations will be comprised of over 5,000 Bitmain S9's. These machines are expected to generate roughly 70 Ph/s of total hash power, and over $4.0 million in monthly revenue, assuming current Bitcoin pricing and Difficulty rates. Global Arena Holding Inc. (OTC: GAHC) is a holding and technology development company. The company's main subsidiary is Global Election Services where it provides comprehensive technology-enabled election services. The company had also made an investment into a Blockchain Technology company. GAHI Acquisition Corp. was incorporated in the State of Delaware to be the merger subsidiary for the potential acquisition of Blockchain Technologies Corp. and additional Blockchain Technology Software for elections registration and tabulation processes. On August 17, 2017, the company announced that after months of development and testing, the Company's subsidiary, Global Election Services, Inc., is proud to announce the implementation of new proprietary software and hardware to utilize in ballot scanning during the tabulation process. BTCS Inc. (OTCQB: BTCS) is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with Digital Assets and blockchain technologies. Subject to additional financing, BTCS plans to create a portfolio of digital assets including bitcoin and other "protocol tokens" to provide investors a diversified pure-play exposure to the bitcoin and blockchain industries. On October 25, 2017, the company announced it has closed on the remaining balance of its previously announced financing, which was co-led by Blockchain Global Ltd. The Company received a total of $1.1 million from the sale of its Series C -1 Convertible Preferred Stock and Warrants. HIVE Blockchain Technologies Ltd. (OTC: PRELF) is building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd., the world's leading cryptocurrency mining hashrate provider, to build the next generation of blockchain infrastructure. HIVE owns a state-of-the-art GPU-based cryptocurrency mining facility in Iceland, completed in May 2017, which produces mined cryptocurrency like Ethereum around the clock. On November 29, 2017, the company released its results for the second quarter ended September 30, 2017. In the quarter, HIVE formed a strategic partnership with Genesis Mining Ltd., the world's largest digital currency mining hashpower provider. In conjunction, HIVE acquired and commenced operations at its initial 2.05 megawatt ("MW") digital currency mining facility in Iceland. Included in the financial results for the quarter are just twelve full days of operations from the initial facility, which resulted in revenues of $170,819 and a mining margin of $112,959.
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