Bitcoin Value Rebounds After Another Split

NEW YORK, October 27, 2017 /PRNewswire/ --

Bitcoin price continued to recover on Thursday after the price took a recent dive due to the, "hard fork" that happened on Tuesday. According to data from CoinDesk, Bitcoin rose 3.6 percent to $5940.83 during Thursday's trading session. Bitcoin, the largest cryptocurrency by market capitalization, went through a hard fork on Tuesday and a new cryptocurrency called bitcoin gold was created. This is the second split for Bitcoin. In July, Bitcoin split into bitcoin and bitcoin cash. Safiri Felix, a researcher at financial publisher Empiricus, told CoinDesk: "I think that forks and airdrops as a trend to launch new tokens will continue, aiming to get an instant user base. Best case scenario, bitcoin gold is a potential contender for litecoin." Chineseinvestors.com, Inc. (OTC: CIIX), BTCS Inc. (OTC: BTCS), Overstock.com, Inc. (NASDAQ: OSTK), Bitcoin Services, Inc. (OTC: BTSC), MGT Capital Investments, Inc. (OTC: MGTI)

According to a CNBC report, the billionaire co-founder of PayPal Peter Thiel believes that bitcoin is underestimated. "I do think people are a little bit … underestimating bitcoin especially because ... it's like a reserve form of money, it's like gold, and it's just a store of value. You don't need to use it to make payments," Thiel said at the Future Investment Initiative in Riyadh, Saudi Arabia, "If bitcoin ends up being the cyber equivalent of gold it has a great potential left."

Chineseinvestors.com, Inc. (OTCQB: CIIX) announced on October 11th announced that "the Company has launched the first cryptocurrency daily video newscast in the Chinese language, entitled Bitcoin Multimillionaire, broadcast from the NYSE. The video newscast covers timely information and analysis regarding all aspects of the emerging digital currency world, including specific cryptocurrencies, such as Bitcoin and Ethereum, industry trends, price movement, blockchain technology, and sector-related stocks and ETFs listed on major exchanges and the OTC market."

"Many Chinese investors are seeking information and education related to the cryptocurrency sector," says Warren Wang, Founder and CEO of CIIX. "Moreover, in response to the growing popularity of cryptocurrencies and ICOs, governments around the world, including but not limited to, the United States, China, Japan, South Korea and Switzerland are weighing in and/or enacting regulatory policies regarding cryptocurrencies and ICOs. In the United States, Goldman Sachs Group Inc. recently announced that it is considering a new trading operation dedicated to bitcoin and other digital currencies."

In addition, CIIX also has plans to launch a new cryptocurrency website under the domain name newcoin168.com to serve Chinese cryptocurrency investors. The site, expected to launch next month, will endeavor to be a leader in digital media and cryptocurrency and blockchain technology education providing straightforward explanations of cryptocurrency basics, trading guidelines, real-time market commentary and analysis regarding currency mining, blockchain technology, industry hotspots, sector-related stock trends and ETFs, and other strategies and opportunities to capitalize on the bitcoin market.

"After the recent launch of our Bitcoin Multimillionaire daily video newscast, the Company has decided to further expand its presence in the digital currency sector," says Wang. "Similar to U.S. stocks, as the price of digital currency, such as Bitcoin, continues to increase, Chinese people all over the world are taking notice and seeking access to timely information regarding market trends, news, and analysis. We look forward to being the premier source for this information."

BTCS Inc. (OTCQB: BTCS) is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with Digital Assets and blockchain technologies. The company announced it has closed on the remaining balance of its previously announced financing, which was co-led by Blockchain Global Ltd. "We've now secured the necessary funds to settle all of our debt, excluding derivative liabilities, a key step in moving forward with our planned merger with BGL," stated Charles Allen, CEO of BTCS. "With the filing of Form 10-Q and other key BTCS merger conditions now met from the C-1 financing, we're well-positioned to execute on what we believe will be a transformational milestone for our companies."

Overstock.com, Inc. (NASDAQ: OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. Recently, the company announced at the Money 20/20 conference additional details relating to tZERO's proposed initial coin offering (ICO), utilizing a Simple Agreement for Future Tokens (SAFT), administered as a SAFT pre-sale through SAFTLaunch.com. Byrne provided a general description of the proposed tZERO token's key features, and the offering's timing, with the tZERO SAFT pre-sale expected to open on Nov. 15, 2017 and run until Dec. 31, 2017. The proceeds from the sale are expected to fund, among other things, scaling tZERO's technology development and regulatory teams in order to maintain its leading edge, and potentially acquiring or establishing a custody and clearing firm to complement tZERO's existing infrastructure.

Bitcoin Services, Inc. (OTC: BTSC) offers services related to cryptocurrency and bitcoin, such as Bitcoin Mining and Blockchain Software Development. "Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards," according to the company's website.  

MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to focus on an expansion model to grow its crypto assets materially. On October 16, 2017, the company provided stockholders and the investment community with clear metrics regarding the present status of its cryptocurrency business. Following shipment and setup, and in conjunction with the Company's current rigs in operation and on firm order, MGT's Bitcoin mining operations are expected to generate over $2.0 million in monthly revenue, assuming recent pricing and difficulty rates. Factoring in management fees, profit sharing, electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at $1.1 million per month.  The Company expects all rigs announced to date to be operating during the first quarter of 2018.rward to being the premier source for this information."

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