Bitcoin and Blockchain related companies like FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF) had nice moves higher in March to round out Q1 2017, but have a few bumps in the road recently. This is a game where these stocks are in the 2nd inning of a 9 inning game, and they will be driven higher on news and the price appreciation of the underlying bitcoin.
A look at the chart shows a rally to .75 cents followed by some negative news from the exchange, which sent shares spiraling lower. FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF) smartly addressed the issues with the OTC and put the focus back on the Bitcoin prices, and shares recovered.
Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company’s subsidiary, COINQX.com as well as XB on the CCEX.com exchanges.
XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols.
Due to the ephemeral nature of XBU/XB, the Company’s creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins.
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$BITCF 10-Day Chart Below;
Also the company paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. “Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability.” The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to “early bird” participants.
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies, developing new types of digital assets.
Many consider this to be the first publicly-traded cryptocurrency and blockchain-centered company who intends to provide shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company is developing several cryptocurrency related businesses and owns and operates the following digital assets.
Investors may not recognize this now, but as we move down the line companies who can control issuing shares as currency will benefit shareholders in greater ways. Dilution is the enemy of the common shareholder and investors like to stay with companies over the long haul, they just need reasons to do this.
I would watch the share prices as this sector makes new highs, price needs to lead any news from the company which is mainly due to shorts who are doubters, every rally needs two catalysts, one of them being shorts who need to cover and the second is new buying from investors new to the space.
First Bitcoin Capital Corp (OTCMKTS:BITCF) is dealing with it’s exchange issues and keeping the focus on operations and the price of the underlying bitcoin. This sector has so much growth and not enough entrants at the moment, so companies like BITCF will benefit in these early stages. They will suffer when they have mis-steps, and these will be exaggerated which creates the kind of volatility the company had recently. This only means you need to pay closer attention to what is happening with the company itself. Never be afraid to come here to get information, this is what we do. For more news on First Bitcoin Capital and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.