VANCOUVER, BC / ACCESSWIRE / December 6, 2017 / By now, every investor should be aware of the bitcoin frenzy. It's probably the biggest investment story of the year. Bitcoin (up nearly 900% this year) has been a market disruptor showing sky-high gains.
Blockchain, the technology behind bitcoin, could be "bigger than the internet" says Brock Pierce, in an interview with The Times UK. The distributed database blockchain technology represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Hundreds of millions of dollars have already been invested in ICOs and publicly traded companies have just begun to get in on the action.
Market Capitalizations Have Soared
Before Riot Blockchain Inc. changed its name from Bioptix Inc. and its business focus to blockchain technology in October, the company was struggling with it's identity and technology. But now, simply by entering this space, the stock has become one of the hottest stocks on the Nasdaq, increasing its stock price by 647% from $3.71 on November 5th to a high of $24.00 on November 24th.
The recent bitcoin rush has also spread to online retailer Overstock.com Inc. In September, they announced that their subsidiary tZERO is launching a cryptocurrency exchange, its stock broke out past $20 to reach a 12-year high. Shares have spiked an incredible 310% between July and their peak last on November 27th.
Early Adopters of Blockchain
This has led to the establishment of an entire industry of publicly traded companies focused on blockchain, like Victory Square Technologies Inc. (CNX: VST)(OTC PINK: VSQTF), a company that invests in and incubates startups focusing on blockchain technology.
The company has identified the sports betting industry as a sector where the technology could be game-changing. Its investment in FansUnite, a social sports betting network is launching an ICO with a sports betting token called a "FAN". This will be the first for the gaming industry.
Victory Square has made numerous early investments in the blockchain space. Approximately three years ago, VST incubated and invested in BTL Group Ltd. , the first publicly traded blockchain company, to integrate the blockchain technology into FansUnite, potentially changing the way people bet on sports in the future by utilizing the FAN token to place wagers. BTL has recently seen their stock more than doubling hitting a high of $9.34 on December 4th with a market capitalization of more than $150 million CAD.
Aside from sports betting, the Victory Square has also diversified its ventures in areas such as VR/AR gaming, personalized health and film.
Victory Square's CEO, Shafin Diamond Tejani, has received numerous awards, including Ernst and Young's Technology Entrepreneur of the Year, Canadian Angel Investor of the Year, BC Tech Person of the Year, and BIV's Top Forty Under 40.
To maximize the scope of its blockchain business, the company utilizes a network of over 80 partners around the globe to look for companies to invest in and work with them on their road to success.
CryptoCurrency Miner Leading The Charge
Another Canadian listed company, Hive Blockchain Technologies Ltd. (Formerly Leeta Gold Corp), has skyrocketed up from $0.12 on September 15th to $5.25 on November 3rd. After announcing their partnership with Genesis Mining in Iceland, it has been one of the most traded and talked about blockchain companies in the industry.
Bill Gates: Bitcoin Is 'Better Than Currency'
"Bitcoin is exciting because it shows how cheap it can be," he told Erik Schatzker during a Bloomberg TV's Smart Street show interview. "Bitcoin is better than currency in that you don't have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient."
This industry is poised to grow even larger with creative technology companies figuring out new ways to implement blockchain technology into existing products. There is definitely value to be had in this red-hot market.
SOURCE: Pulse Financial Publishing Inc.