The move in Bitcoin to ascend to more than $50K/coin in just a matter of months from under $10K/coin will go down as one of the most dramatic wealth-shifting market processes in history.
But it may just be getting underway. Indeed, if Bitcoin were to reach parity with the gold market in total market cap, it would have to rise to over $700K/coin. Given that it is most often compared to gold as an alternative monetary system and a store of value in case of fiat money devaluation or accelerating inflation, such a target is far from absurd.
With that in mind, we take a look at some of the most interesting ways to participate from an equity perspective, including: Riot Blockchain Inc (NASDAQ:RIOT), Exxe Group Inc (OTCMKTS:AXXA), and HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF).
Riot Blockchain Inc (NASDAQ:RIOT) holds non-controlling investments in blockchain technology companies and is one of the most readily identified on any list of stocks in the crypto space. It’s a mainstay for traders in the space at this point, and for good reason. Shares have vaulted higher as Bitcoin has powered ahead over recent months.
The company’s primary mining facility is located in Massena, New York under a colocation agreement with Coinmint.
Riot Blockchain Inc (NASDAQ:RIOT) recently announced the appointment of Jason Les as Chief Executive Officer, and that Hannah Cho has been appointed to the Company’s Board of Directors, as an independent director. Mr. Les has been deeply involved with Bitcoin since 2013, with significant experience in both mining and as an engineer studying protocol development and contributing to open-source projects.
“In early 2020, Riot made the strategic decision to completely focus on expanding its mining capabilities, which has positioned the Company well to take advantage of significant opportunities in the current Bitcoin environment,” said Benjamin Yi, Chairman of the Board of Directors.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. RIOT shares have been moving higher over the past week overall, pushing about 81% to the upside on above average trading volume.
Riot Blockchain Inc (NASDAQ:RIOT) generated sales of $2.5M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 26.8% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($39.1M against $1.3M).
Exxe Group Inc (OTCMKTS:AXXA) is diversified well beyond just bitcoin, but it has strong exposure to the alt-currency and is also a prime candidate for a short squeeze given the massive amount of shorting going on in the name over recent weeks (according to OTCShortReport.com).
The Company’s strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance – accelerating their growth by providing both access to capital and management expertise.
Exxe Group Inc (OTCMKTS:AXXA) recently released a corporate update on its revamped UK-based currency exchange services operations. According to the release, AXXA is targeting first year revenue generation from 1Myle in excess of $15 million.
1Myle buys and sells alt currencies, including Bitcoin, taking advantage of price differentials. One of 1Myle’s key advantages in the marketplace is its proprietary software which hedges currency fluctuations and books gains in fiat. The hedging operation allows the Company to continually profit irrespective of price movements or direction. As a result, corporate parent AXXA continually increases its net Bitcoin asset bases via 1Myle without needing to commit additional fiat currency.
Eduard Nazmiev, Ph.D., CEO and President of Exxe Group commented: “AXXA has been focused on building and acquiring financial technologies for several years. Our ability to launch new btc fiat exchange services comes at a time when interest in Bitcoin and non-fiat assets are growing around the world. 1Myle is the crystallization of an effort that will see a massive expansion of AXXA’s capabilities and revenue generation capabilities.”
Exxe Group Inc (OTCMKTS:AXXA) pulled in sales of $8.2M in its last reported quarterly financials, representing top line growth of 211.3%. That growth stands out given the attack over recent weeks by exposed shorts. Given its strong exposure to the Bitcoin theme, further gains in the cryptocurrency could help spark a full-on squeeze in shares.
HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) is a mainstay in the crypto mining investment game.
HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Its deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto coins.
HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) recently announced the purchase of 4,180 MicroBT WhatsMiner M31S+ next generation miners with an aggregate operating hash power of 334 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations.
According to the release, with the addition of these 4,180 MicroBT WhatsMiner M31S+ Miners, HIVEs aggregate operating hash rate from Bitcoin mining to almost double to an estimated 653 PH/s. Based on the orders that have been placed, this new equipment is expected to be delivered in 9 tranches in 2021, with 180 miners delivered in April and 500 miners delivered in each month in the remainder of calendar 2021 commencing with May delivery.
And the stock has been acting well over recent days, up something like 62% in that time.
HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) managed to rope in revenues totaling $17.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 9.2%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($22.1M against $12.6M).