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Here Are Two Reasons To Check Out Bitcoin Investment Trust (OTCMKTS:GBTC) Right Now

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The cryptocurrency market has been incredibly volatile over the last couple of months and especially during the start of this week, as a wave of mainstream coverage has attracted an increased amount of public market capital to the sector.

Not all of this capital, however, is being used to buy cryptocurrency directly.

Based on the barriers to entry associated with buying, and the difficulty of storing, bitcoin and other cryptocurrencies securely, investors who are perhaps more familiar with the traditional equities markets have been looking for alternative exposures.

Some have turned to publicly traded companies that have operations linked to blockchain technology but, in many cases, it’s difficult to ascertain just how involved a public company, and in particular, one that’s traded OTC, is in bitcoin and blockchain.

As such, one of the favorite allocations for anybody looking to pick up an exposure to bitcoin without buying the asset has been Bitcoin Investment Trust (OTCMKTS: GBTC).

This is the Grayscale owned and operated trust that’s (by way of Grayscale’s owner), a subsidiary entity of Digital Currency Group, a company owned by Barry Silbert and one that also has ties to Coindesk.

All of these names are pretty well respected in the sector and this has lent a degree of credibility to Bitcoin Investment Trust, which, in turn, has made it one of the top allocations in this sector from a publicly traded market perspective.

Over the last month or so, however, Bitcoin Investment Trust has taken a real hit in line with the price of its underlying asset – bitcoin. On December 18, GBTC traded for more than $3,400 a share. At close of play on January 17, this had dipped to $1,857.

During this period, bitcoin fell from nearly $20,000 per coin to below $10,000 but has since recovered to in around $12,000 at time of writing – midmorning on Friday. GBTC, However, is yet to stage a similar recovery, suggesting there is a near-term recovery play on the cards in this stock for any short-term traders out there.

Looking longer-term, there is also a split type play on offer.

GBTC announced last week that it intended to carry out a stock split at a ratio of 91-for-1. As a result of the split, each investor in the ETF will receive 91 additional shares for every 1 share that they hold and, at the same time, the price per share will reduce by a multiple of 91.

At current prices, then, in and around $1,857, each GBTC share will be worth a little over $20 once the split has taken hold.

The reasoning behind this is rooted in accessibility. Right now, gaining access to bitcoin through GBTC is costly. With each share only priced at around $20 post-split, this cost of access is much cheaper and, by proxy, should attract a wave of investor capital that previously was prohibited from entering by this route because of the price per share (keep in mind that this is not like cryptocurrency investing, you can’t buy a fraction of a share).

So, while we will almost certainly see some degree of appreciation as GBTC recovers in line with the price of its underlying asset, we expect to also see a longer-term trend is driven by the stock split and, in turn, the reduced cost barrier facing speculative traders and investors.

Keep in mind that this one is still very much tied to the price of bitcoin and there is no guarantee that the recent recovery is an overarching return to the upside momentum – we may still see price dip further before we get a solid recovery.

With that said, however, all signs suggest that current prices are bottoming out, meaning while there exists some risk, there’s plenty of reward on offer to justify this risk as things stand.

We will be updating our subscribers as soon as we know more. For the latest on GBTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Grayscale

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ONGX – Tokenized Ownership of Pharmaceutical Facility Listed on HOBIT.io

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OncoGenerix.io and OGInvest Limited have announced that the ONGX Token will be tradable via the Hobit.io exchange. The ONGX Tokens are built on the ERC20 blockchain protocol, serve as a SAFE (which stands for “simple agreement for future equity”), and will be exchangeable at the option of the investor for equity-token securities.  The ONGX Token offering is a first-of-its-kind digital investment opportunity, the company stated, as it offers tokenized ownership of a pharmaceuticals manufacturing facility. Through ONGX Tokens investors have an opportunity that is typically available only to industry insiders and large investment firms, the company stressed. 

“We are excited to see OncoGenerix.io work with Hobit.io, as we believe it is a strong ecosystem to provide ONGX investors with potential liquidity. We believe ONGX is the pharma industry’s largest digital offering to date, as measured by target investment size, underlying valuation, and production capacity of the asset. The ONGX Token brings pharma production investments to a much larger audience and democratizes the pharma investment opportunity,” said the president of Hobit.io Mr. K. Holtser.

Hobit

The OncoGenerix project anticipates to benefit from a combination of the OncoGenerix plant’s strategic location, favorable valuations of pharma manufacturers, and continued global pharma market growth. As a novel and generics pharma producer, OncoGenerix specializes in injectable…

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Business incubator GDA Ventures acquires first client MobileGo, introduces MGO Token for blockchain gaming

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GDA Ventures, a business incubator backed by the GDA Group of companies, has  announced its first client – blockcain gaming platform MobileGo (MGO). The MobileGo project was initially launched in 2016 and focused on gaming, with significant closed partnerships including Unity and Xsolla, the gaming industries leading game engine and one of the most utilized payment processing providers. 

GDA Ventures 

Similar to many early blockchain projects, MGO built a significant community and blockchain offering while securing partnerships with top companies in the industry. The 2018 market crash combined with failed deliverables from various signed partners slowed the project down. Now, as crypto sees a revitalization, MobileGo has engaged GDA Ventures to restructure and revive the MGO project, the two companies announced.

“This is a huge step forward that will continue to bring innovation and originality to the blockchain gaming ecosystem; benefiting developers, gamers and everyone in between. We are very excited to work with GDA Ventures as their experience with venture incubation and development will help take MGO to the original heights set out in 2016, becoming an industry pioneer that bridges the gap between gaming and blockchain,” the MobileGo team announced in a statement.

MGO co-founders were some of the first to recognize that peer-to-peer gaming and unique…

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SyncFab Boosts Aerospace Division While Strengthening MFG Token Utility

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Manufacturing blockchain company SyncFab has been selected as an official showcase solution finalist for the United States Air Force AFWERX program, the company announced this week. AFWERX is a community of innovators devoted to creating a faster and smarter US Air Force. SyncFab showcased its technology enabling agile manufacturing and reverse engineering of mission-critical component parts. 

SyncFab MFG Token

Additionally, Jason Smith, a veteran in the aerospace industry, joined the SyncFab team recently.  Smith possesses a tremendous knowledge of the industry, having worked with L3 Vertex Aerospace, the United States Air Force, commercial airlines, and government agencies to uncover business opportunities for engineering, maintenance, and repair services. 

SyncFab’s advisory board has also welcomed Urs Breitmeirer, former group CEO RUAG Swiss Aerospace Defense CO to boost the blockchain adoption strategy. 67% of space and aerospace executives anticipate the combination of blockchain distributed ledger technology, AI, XR, and quantum computing will have a transformational impact on their organization as reported by Accenture. With thousands of suppliers responsible for delivering advanced and innovative components or materials to Tier 1 suppliers and OEMs, supply chain and logistics have long been critical to the success of every major aerospace and defense program, SyncFab team stated.

This substantial reinforcement of the core team at SyncFab is expected to help boost the aerospace industry…

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