New York, New York (NetworkNewsWire) – Bitcoin’s recent climb
above the $4,500 mark is just one example of how its market
capitalization continues to gain unprecedented reach. (http://nnw.fm/lGp8V) From cannabis to technology,
bitcoin has impacted industries far and wide, but analysts believe
that the cryptocurrency isn’t done climbing. A Goldman Sachs
analyst recently predicted bitcoin could soon go for as high as
$4,800. ChineseInvestors.com Inc. (CIIX) (CIIX
Profile) is one business taking advantage of bitcoin’s success
by setting up bitcoin payment acceptance through its wholly owned
subsidiary, Chinesehempoil.com Inc. (http://nnw.fm/2ZjlL). SinglePoint, Inc.
(SING) also continues to develop its bitcoin cannabis
payment solutions, while technology company NVIDIA
Corporation (NVDA), graphics cards maker Advanced
Micro Devices, Inc. (AMD), and bitcoin investment vehicle
Bitcoin Investment Trust (GBTC) occupy their own
unique positions.
ChineseInvestors.com (CIIX), in July 2017,
announced that its Chinesehempoil.com subsidiary was ready to
accept bitcoin payments, in addition to more common payment methods
such as debit cards and PayPal, in order to enable consumers to
purchase its hemp-based health products online. The move marked
CIIX’s official entrance into the burgeoning digital currency
market and enabled the company to offer its customers a heightened
level of cost savings, privacy and ease of use.
By August, CIIX took its knowledge of bitcoin a step further. On
par with its core operation as a provider of financial information,
CIIX launched its cryptocurrency education and trading subscription
service on Chinesefn.com, its dynamic financial website that
provides real-time market commentary; analysis related to digital
currency, trends and stocks; and education-related services to
Chinese-speaking investors. The subscription service covers a
spectrum of vital cryptocurrency data, including news, analysis,
industry trends, price movement, sector related stocks and ETFs,
and more (http://nnw.fm/OC7Cd).
ChineseInvestors.com (CIIX), CEO, Warren Wang, in the press
release announcing the new service (http://nnw.fm/Ifd3E), described why providing this
information to the Chinese-speaking population represents a
significant market opportunity.
“With the use and trading of cryptocurrencies on the rise in
Asia, it appears that a much wider adoption of digital assets may
be right around the corner. With an estimated 85% market share,
China is one of the dominant players controlling bitcoin volume,
along with Japan (which recently legalized bitcoin as a form of
payment) and the United States,” he explained. “While many see the
unique opportunity that cryptocurrency poses for investors and
desire to capitalize on this market opportunity, they may not have
a full understanding of the concept of digital currency or how the
system works. CIIX intends to provide fundamental knowledge to
Chinese speaking newcomers to cryptocurrency, including
straightforward explanations of the basics of cryptocurrency, how
to buy it and straightforward trading guidelines. For those with
cryptocurrency experience, the Company will provide more detailed
information regarding currency mining, blockchain technology, stock
trends and ETFs. Through its innovative cryptocurrency education
and trading subscription service, the Company endeavors to be the
leading Chinese educational site providing up to date news and
information on digital currencies.”
Headquartered in Los Angeles with offices in New York City and
Shanghai, CIIX continues to grow its core as a specialized
investment services company with a 100,000+ user base, providing
consultation, advertising, and public relations services to
China-based companies.
SinglePoint,
Inc. (SING) is another cannabis industry leader
participating in the cryptocurrency phenomenon. In June 2017, the
company closed a round of funding (http://nnw.fm/7RT7g) with an investor to support a
bitcoin payments solution that was implemented in partnership with
First Bitcoin Capital. By adding bitcoin payments to its diverse
portfolio, SinglePoint is helping the cannabis industry - as well
as other high-risk industries – overcome the challenges stemming
from a lack of adequate banking access. SinglePoint also recently
purchased $Weed from First Bitcoin Capital, a new currency in the
market (http://nnw.fm/C5zDj). WeedCoin is curretly listed on
three exchanges, and SinglePoint said it intends to list and market
the currency on more exchanges moving forward.
Taking a step backward in the cryptocurrency process helps to
understand these investment options in the alternative currency
market. California-based graphics chip manufacturer and technology
company NVIDIA Corporation (NVDA), participates in
the digital currency market by providing chips used for
cryptocurrency mining. While there are numerous other uses for its
chips, bitcoin miners favor graphics processing units to create new
cryptocurrency units. According to several industry reports, this
demand helped push sales of Nvidia’s graphics card line 52% higher
to $1.2 billion in the second quarter.
Likewise, Advanced Micro Devices, Inc. (AMD) is
benefitting from demand for its graphics card by cryptocurrency
miners. In June, the chipmaker told CNBC that demand for its
graphics cards was fueled by the "newly resurgent cryptocurrency
mining markets” (http://nnw.fm/gbPL6). Earlier this week Advanced Micro
Devices revealed details of its “Radeon Software Crimson ReLive
Edition Beta for Blockchain Compute” driver (http://nnw.fm/ObGa5), created to help boost the
efficiency of cryptocurrency mining rigs. The beta-level driver
targets graphics processors that are used for mining, or a way that
new transactions are added to blockchains, addressing the demand
for processors used by those tapping into the cryptocurrency
market.
The growth and potential of bitcoin is further evidenced by
Bitcoin Investment Trust (GBTC), which enables
investors to gain exposure to bitcoin’s price movement through a
traditional investment vehicle without the challenges of buying,
storing and safekeeping bitcoin. The U.S.-based, open-ended grantor
trust is invested exclusively in bitcoin, and its shares are the
first publicly quoted securities solely invested in and deriving
value from the price of bitcoin. Bitcoin Investment Trust was
recently named to OTC Markets Group’s “OTCQX Best 50” for 2017.
Bitcoin digital currency has already been named an official method
of payment in Japan, and it is being accepted by more and more
major retailers in the United States, furthering the acceptance of
bitcoin’s presence as a valid payment method.
Market analysts continue to predict increases in bitcoin and
digital currency in general. Cryptocurrency payments have benefited
businesses and consumers in the cannabis products industry and in
the graphics cards markets, driving growth in both sectors. Current
trends show that it is also opening the door to markets worldwide,
especially in the United States and China, with little signs of
slowing down. This is true if pricing is any indication; bitcoin
recently surged past $4,500.
For more on CIIX please visit: ChineseInvestors.com (CIIX) or www.ChineseInvestors.com
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