Bitcoin Investment Trust : Widespread Use of Blockchain is Increasing its Market Value

NEW YORK, July 2, 2018 /PRNewswire/ --

According to a report published by Grand View Research, the global blockchain technology market size was valued at USD 604.5 Million in 2016 and is expected to reach USD 7.59 Billion by 2024, while growing at a compound annual growth rate (CAGR) of 37.2% during the forecast period. The rapid growth of the market can be attributed to the increasing demand for blockchain technology across financial services, consumer or industrial products, technology, media and telecom, healthcare, transportation, as well as public sectors. Blockchain was initially widely known as the technology that enabled the existence of cryptocurrency, whereas it is now used in various industries all over the world. The benefits of applying this technology include faster settlement and lower transaction risks. Chineseinvestors.com Inc. (OTC: CIIX), Overstock.com Inc. (NASDAQ: OSTK), Bitcoin Investment Trust (OTC: GBTC), Black Cactus Global Inc. (OTC: BLGI), Digatrade Financial Corp. (OTC: DIGAF)

Prohibitions on digital marketing for cryptocurrency eased in recent times. Last week, Facebook announced its plan to reverse a ban on cryptocurrency ads. The social media company said it will now allow ads that promote cryptocurrency and related content from pre-approved advertisers. However, the Company will still prohibit ads that promote binary options and initial coin offerings. The cryptocurrency market is now valued at USD 234 Billion. According to CNBC, Matthew Newton, Analyst at eToro, said, "It needs something to get markets back to life, like some development on the technology or regulatory side."

Chineseinvestors.com, Inc. (OTCQB: CIIX) announced on June 5th, 2018, that, "it has entered into a licensing partnership with The Bad Crypto Podcast to re-distribute the podcast's most popular interviews on http://www.newcoins168.com, in Chinese.

Interviews that will be translated into Chinese for re-distribution on http://www.newcoins168.com include: Charlie Lee, Founder and Developer of Litecoin, Roger Ver, also known as 'Bitcoin Jesus', and Patrick Byrne, Overstock.com CEO and Founder of tZERO. In addition to re-distributing these informative interviews in Chinese, the Company's CEO Warren Wang also appeared once again for an interview on The Bad Crypto Podcast on May 23, 2018. Mr. Wang first appeared on The Bad Crypto Podcast in December 2017 where he offered his perspective and insights on bitcoin and cryptocurrency in China."

"Since it first aired in July 2017, The Bad Crypto Podcast hosted by Joel Comm, Bitcoin Evangelist and Travis Wright, Blockchain Entrepreneur, has become a worldwide phenomenon with over 150 episodes for curious individuals trying to figure out cryptocurrency, blockchain and the future of digital payments," says ChineseInvestors.com, Inc. CEO Warren Wang. "We are confident that this lighthearted, entertaining programming offered in Chinese will be well received by viewers looking to expand their crypto knowledge whether they are newbies or more experienced crypto investors."

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. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to millions of products from third-party sellers. The Company announced on June 25th, 2018, that it will begin expanding its physical and digital operations, including supply chain, marketing, and recruiting, into states in which tax nexus concerns previously prevented the company from having a direct presence. The online home goods and furniture retailer voluntarily started the process to collect sales tax on purchases made by consumers from the more than 12,000 unique U.S. tax jurisdictions following the June 21st, 2018, Supreme Court ruling on South Dakota v. Wayfair. Overstock continues to urge Congress to legislate a fair and equitable solution for sales tax law that takes into account the best interests of both consumers and entrepreneurs.

Bitcoin Investment Trust (OTCQX: GBTC), is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables investors to gain exposure to the price movement of bitcoin without the challenge of buying, storing, and safekeeping bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. The Company recently launched an online resource library for institutional and individual investors. The new website, called Insights, will showcase Grayscale's content and analysis to help investors make more informed digital asset investing decisions. "There is tremendous appetite in the investor community for better information and clarity around digital currency investing," said Michael Sonnenshein, Managing Director of Grayscale. "We are trying to demystify this market by offering clear-eyed analysis that demonstrates how digital currencies, when sized appropriately, may fit into a traditional investment portfolio."

Black Cactus Global Inc. (OTC: BLGI) is a technology development company with a focus on Blockchain, machine learning, cryptocurrency, and the Internet of Things. Black Cactus Global recently announced that the Company has secured up to USD 3.6 Million in funding for its India based Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited. The Company's BCG-TPL Blockchain team has been achieving significant milestones at its Development Center in the burgeoning 'Fintech Valley' of Visakhapatnam, India. The state-of-the-art Vizag Development Center is expected to be fully staffed by mid to late summer to accommodate projected new business, and the Company is planning to develop a second Operations Center in 2019 at the Tech-hub of Hyderabad, India. Hyderabad is known as the HITEC City and is home to major technology development centers for Microsoft, Apple, Google, Oracle, JP Morgan, Facebook and many others. Chairman Harp Sangha commented, "We are extremely grateful to the Board for both this financial backing and the vision for aggressive growth of the Company. Our management, design team and Development Center are all world class and will enable us to deliver Blockchain-based technology platforms and services around the globe. Our planned operation in Hyderabad will put us right in the heart of cyber-central and will provide a powerful opportunity to add to our relationships and build our brand as the leader in Blockchain Technology."

Digatrade Financial Corp. (OTCQB: DIGAF) is a Digital Asset Exchange and Blockchain Development Services Company operated by Digatrade Financial Corp, a company with headquarters in Vancouver, Canada. Digatrade recently announced that the Canadian Securities Administrators is urging Canadians to be cautious when considering buying crypto assets through trading platforms. Even though a platform may call itself an "exchange," that does not mean it is complying with the securities regulatory regime. The CSA wants to make it clear: currently there are no crypto-asset trading platforms recognized as an exchange or otherwise authorized to operate as a marketplace or dealer in Canada. If a platform facilitates the trading of crypto assets or interests in crypto assets that are securities or derivatives, that platform is required to comply with securities legislation. "We want investors to understand that just because a platform may advertise itself as an exchange, that does not mean the platform is complying with applicable securities regulations," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des Marchés Financiers. "If it is not, investors should not expect to receive the same protections that are built into the securities regulatory framework applicable to exchanges or dealers and should, therefore, be cautious."

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