Bitcoin Price Continues to Break New Records

PR Newswire

NEW YORK, November 1, 2017 /PRNewswire/ --

According to CoinDesk, Bitcoin, the largest cryptocurrency by Market Capitalizations, has hit another record high of $6,415.28 on Tuesday morning due to CME's announcement of launching bitcoin futures this year. The second largest digital currency Ethereum has gained over 3500 percent to $307.05 since the start of the year. In July, bitcoin split into bitcoin and bitcoin cash. Bitcoin cash now has a market value of about 7.4 billion and becomes the fourth-largest cryptocurrency in the world. The recent rally in bitcoin cash is due to possible upcoming hard fork of Bitcoin Cash in November. Mogo Finance Technology Inc (OTC: MOGOF), HIVE Blockchain Technologies Ltd. (OTC: PRELF), Riot Blockchain Inc. (NASDAQ: RIOT), Overstock.com, Inc. (NASDAQ: OSTK), Bitcoin Investment Trust (OTC: GBTC)

According to a report published by Lendedu, younger people in the United States are more interested in cryptocurrencies. "As seen above, younger Americans are significantly more likely to be interested in investing in Ethereum. Overall, we found that 18.20 percent of respondents reported that they are planning to invest in Ether (ETH) as an asset for the future. In September, we found that 17.18 percent of respondents that have heard of Bitcoin are planning to invest in Bitcoin as an asset for the future."

Mogo Finance Technology Inc (OTCQX: MOGOF) also listed on the TSX Exchange under the ticker symbol "MOGO". Just announced breaking news this morning that it, "has exceeded 500,000 Mogo members - doubling their member base since August 2016. Since 2014, the number of members on Mogo's platform has grown annually at an average rate of 114% fueled by multiple launches of new innovative digital finance products all accessible through Mogo's digital account and Mogo's growing brand awareness.

"Reaching half a million members is a huge milestone for Mogo on our path to one million members and, ultimately, toward our vision to build the leading digital banking experience in Canada," said David Feller, Founder and CEO of Mogo. "Although the transformation to digital financial services is in the early stages in Canada, our member base today rivals the largest credit union in the country. This growth has accelerated in recent months and we're seeing a continued increase in the percentage of millennials signing up for a MogoAccount - evidence that our unique value proposition continues to resonate with the next generation of Canadians."

Mogo attributes its strong member growth to the power of its platform including its unique and growing product offering designed to help Canadians get in control of their financial health; its innovative marketing partnership with Postmedia which builds brand awareness across Canada; and its recent expansion into four new provinces: Manitoba, New Brunswick, Newfoundland and PEI.

The Network Effect & the Power of the Mogo Platform - Member growth accelerated with almost two thirds of new members categorized as millennials. Mogo's multi-product platform includes: - Canada's first free credit monitoring solution - MogoMortgage - Digitally led -mortgage experience which recently was awarded Best Use of Mobile Technology by the Canadian Mortgage Association - MogoCard - Canada's first digital spending account with Prepaid Visa - MogoMoney - Canada's first full-spectrum consumer loan solution with "Level-up" program that rewards consumers for consistent payments - Mogo's platform has been engineered to deliver multiple financial products at scale and enable the launch of new products all within the same digital account - New product introductions including Mogo's recently announced plans to integrate Bitcoin and other cryptocurrencies into the Mogo Account - Dedicated fintech team of over 250 employees focused on building the leading digital finance experience in Canada. As the digital banking experience continues to evolve, Mogo is committed to introducing more innovative products that empower Canadians to manage their financial health.

"By delivering a unique and compelling value proposition, we believe we are well positioned to continue to grow our member base and further strengthen the trust we are building with the next generation of Canadians," said Greg Feller, President and CFO. "

HIVE Blockchain Technologies Ltd. (OTC: PRELF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based cryptocurrency mining facilities in Iceland, which produce mined cryptocurrency like Ethereum around the clock. Recently, the company announced that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 10,715,000 units of the Company at a price of C$2.80 per Unit, for aggregate gross proceeds of C$30,002,000. The net proceeds of the Offering are expected to be used to fund the second phase of construction at the cryptocurrency mining data centre in Sweden and for general working capital purposes.

Riot Blockchain Inc. (NASDAQ: RIOT) leverages its expertise and network to build and support blockchain technology companies. On October 17th, Riot Blockchain announced it has entered into a definitive purchase agreement to acquire a 52% ownership interest in Tess Inc. TESS, has a team of seven engaged in developing a blockchain-based payment service for wholesale telecom carriers. The purchase reflects Riot Blockchain's efforts to own or control companies who are contributing to the development of the blockchain ecosystem. "Riot Blockchain is committed to building and supporting the blockchain ecosystem," said Michael Beeghley, CEO of Riot Blockchain. "The telecom payment platform of TESS is a prime example of how blockchain-based technologies can be leveraged to disrupt established industries. I believe that Riot Blockchain is poised to take advantage of this revolution in digital transactions as we see increasing adoption of blockchain protocols in our everyday lives."

Overstock.com, Inc. (NASDAQ: OSTK) subsidiary, tZero announced on September 27^th, an exclusive joint venture that teams the market-leading strengths of each company to launch an Alternative Trading System (ATS) that will transform the trading of security tokens issued in Initial Coin Offerings (ICO) in compliance with SEC and FINRA regulations (Joint Venture). This rapidly emerging asset class of blockchain-based digital tokens has raised more than $2 billion so far this year (per Coindesk.com's ico-tracker) and cryptocurrencies overall (including digital tokens) have a current market cap of $137 billion (per Coinmarketcap.com), making this a huge growth industry. Digital tokens and cryptocurrencies are also changing the face of emerging growth company financing. In the first half of this year, more money was invested in fintech through cryptocurrencies than through venture capital (over $1.2 billion, per CNBC).

Bitcoin Investment Trust (OTCQX: GBTC) is a publicly-quoted security that is solely invested in and originating value from the price of bitcoin. The BIT exposes the value and price movement of bitcoin to investors through a traditional investment vehicle, without requiring the purchase, storing and safekeeping of bitcoins. The Bitcoin Investment Trust tracks the bitcoin market price, fees and expenses.

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