Bitcoin Cryptocurrency Price Breaks New Record Crossing $7,600
NEW YORK, November 7, 2017 /PRNewswire/ --
Bitcoin, the world's largest cryptocurrency by market capitalization, hit a fresh all-time high of $7,601.39 on Sunday, according to data from industry website CoinDesk. The price of bitcoin has been trading higher since CME announced to launch bitcoin future products. The upcoming Segwit2x hard fork, which could split bitcoin into two different cryptocurrencies, also contributed to the recent rally in bitcoin price. According to data from Coinmarketcap, the total cryptocurrency market cap surpassed $200 billion for the first time on Sunday, while bitcoin accounted for nearly 60 percent of the total market value. Global Blockchain Technologies Corp. (OTC: BLKCF), Overstock.com, Inc. (NASDAQ: OSTK), Riot Blockchain Inc (NASDAQ: RIOT), Bitcoin Services, Inc. (NASDAQ: BTSC), HIVE Blockchain Technologies Ltd. (OTC: PRELF)
According to Cryptocoinsnews, Ronnie Moas, a respected market analyst at Standpoint Research, has raised his 2018 target price for bitcoin to $11,000. Moas wore in a note: "My aggressive crypto market cap target is actually 2% within 5 years that would put the industry at $4 trillion dollars and bitcoin would be at 2 trillion. The price would then be $120,000 and only 25% of where the gold market is today. Many people believe that Bitcoin will eventually catch up to gold ($8 trillion) and I would not argue with that. $8 trillion would get bitcoin to $500,000."
Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the TSX Venture Exchange under the ticker symbol 'BLOC'. Recently announced breaking news that, "two new alliances that add to the increasingly global scope that the company has planned. First, it has joined the Hyperledger Foundation, an open-source collaborative effort to create enterprise-level, cross-industry blockchain technologies. In addition, Global Blockchain Technologies has established a strategic partnership with Wachsman PR, the world's largest public relations firm specializing in the blockchain industry. These partnerships will provide GBT with guidance on blockchain development and media relations.
Global Blockchain Technologies Corp.'s addition to the Hyperledger Foundation represents an important step forward in its plan to build a team and community comprised of the best developers in the Hyperledger, Stellar, Graphene, NEO, and Ethereum ecosystems. The Hyperledger Foundation works with some of the world's most important brands, including Airbus, American Express, Baidu, CISCO, Daimler, NEC, IBM, and many more, providing Global Blockchain Technologies Corp. with a valuable knowledge base for future investments.
Powered by the non-profit Linux Foundation, the Hyperledger Foundation is a collaborative software development platform that engages some of the top blockchain consultants such as R3, Digital Asset in efforts designed to facilitate the mainstream commercial use of blockchain technologies.
Based in New York and Dublin, Wachsman PR is the largest public relations firm specializing in media relations and strategic brand development for digital currency and blockchain-based companies. Since its inception in 2015, Wachsman has crafted and led public relations campaigns for more than 50 of the most successful and innovative companies in the blockchain and cryptocurrency spaces, including Steemit, Lisk, Kik, Agentic Group, and Kraken.
Global Blockchain Technologies Corp. CEO, Rik Willard, said: "We are proud to establish these critical relationships with the Hyperledger Foundation and Wachsman PR. As a new entrant in the space led by seasoned veterans from various areas of the blockchain industry, we will remain open and eager to explore and enhance our understanding of a variety of distributed platforms. We feel that there is room for multiple decentralized and distributed solutions, so we are very excited by the opportunity to work with the Hyperledger Foundation, which offers a diverse set of software options for enterprise applications. Additionally, our collaboration with Wachsman PR will allow us to better engineer the growth of prominent blockchain startups and allow GBTC to effectively communicate its mission to promote some of the world's most promising companies in this rapidly-developing space."
Wachsman PR CEO and Founder, David Wachsman, said: "Wachsman PR is thrilled to be working with Global Blockchain Technologies Corp. Its team has demonstrated continuous dedication to the innovation and development of blockchain since its early days. The need for educated investors in the space who are willing support early-stage blockchain companies will only multiply, and GBTC has proven itself to be a committed advocate of such startups."
Overstock.com, Inc. (NASDAQ: OSTK) announced earlier this summer that it now allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, decor, rugs, DIY, and more. "Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies," said company CEO and founder Patrick M. Byrne. "ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we're excited to harness that ability to the benefit of our customers."
Riot Blockchain Inc (NASDAQ: RIOT) announced on November 6th that it has closed on its acquisition of cryptocurrency mining equipment consisting of 700 AntMiner S9s and 500 AntMiner L3s, all manufactured by industry leader Bitmain. The total hashing power of the equipment is expected to be 9.8 petahash of SHA 256 Bitcoin mining computing power and 250,000 megahash of X11 Litecoin mining. In conjunction with the transaction, the Company announced that President John O'Rourke has been named Chairman and Chief Executive Officer of Riot Blockchain. "The closing of this acquisition has positioned us to launch our cryptocurrency mining operation," said John O'Rourke, Chairman and CEO of Riot Blockchain. "Cryptocurrency mining will be a focal point moving forward, gaining us leveraged exposure to bitcoin and other digital currencies while we help secure blockchains."
Bitcoin Services, Inc. (NASDAQ: BTSC) is an internet based to the consumer company and consist of two separate streams, bitcoin mining and blockchain software development. The company's principal products and services are the mining of bitcoins, and the development and sale of blockchain software. On August 10, 2017, the company announced that it launched a new corporate website. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017.
HIVE Blockchain Technologies Ltd. (OTC: PRELF) announced recently that it has entered into a legally binding letter agreement dated October 23, 2017 with its largest shareholder Genesis Mining Ltd. ("Genesis") under which the Company will finance the construction of a cryptocurrency mining data centre in Sweden (the "Sweden Data Centre"). The Sweden Data Centre will be a newly constructed GPU mining facility with an anticipated completion date of December 2017. The Company's cryptocurrency mining capacity or hashpower is expected to increase by approximately 175% with the addition of the Sweden Data Centre. Harry Pokrandt, CEO and President of HIVE stated "With the help of Genesis, Sweden represents the next stage of growth for HIVE as we continue to build our portfolio of mining facilities. HIVE is acquiring a facility in a politically stable country with access to excellent infrastructure and complements our existing facilities in Iceland. We will continue to evaluate other opportunities to ensure we provide our shareholders the best exposure to the blockchain and cryptocurrency."
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