What’s New in #Cryptocurrency Sector with Square (NYSE: $SQ), SponsorsOne (CSE: $SPO.C) (Frankfurt: 5SO), Kodak (NYSE: $KODK), Overstock.com (NASDAQ: $OSTK)
What’s New in #Cryptocurrency Sector with Square (NYSE: $SQ), SponsorsOne (CSE: $SPO.C) (Frankfurt:
5SO), Kodak (NYSE: $KODK), Overstock.com (NASDAQ: $OSTK)
Expert
comments on bigger picture following recent volatility
Point Roberts WA, Delta BC
- February 1, 2018 Investorideas.com, a
leader in Blockchain content with its Bitcoin and blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com
and Blockchaininvestorideas.com
reports on recent news and developments for investors following the sector.
Square,
Inc.’s (NYSE:
SQ)
stock price rose on January 31st
following news and a twitter post from its CEO Jack Dorsey’s that “Instant
buying (and selling, if you don’t want to hodl) of Bitcoin is now available to
most Cash App customers. We support Bitcoin because we see it as a long-term
path towards greater financial access for all. This is a small step.” @jack
On January 30th SponsorsOne Inc. (CSE: SPO) (Frankfurt: 5SO) announced
it developed the SponsorsCloudTM platform to support the SponsorCoin, the
world's first scalable, digital cryptocurrency for social networks. Smart
contracts, between brands, consumers and influencers, which automatically
determine compensation for authentic social engagement are backed by
SponsorCoins. SponsorsOne is pleased to announce that the SponsorsCoin digital
wallet will now facilitate the automatic, real-time conversion of SponsorCoin
into Bitcoin, Ethereum and many other popular cryptocurrencies that trade
internationally.
"Providing liquidity outside the
SponsorsCloud for our Brand Communities has always been our goal," states
Myles Bartholomew, CEO of SponsorsOne. "The conversion will be 100% cash
backed and as an audited public company the cash held in reserve will be fully
reported on our balance sheet."
The SponsorCoin digital wallet will show,
in real time, the exchange value of Bitcoin, Bitcoin Cash, Ethereum, Litecoin,
Ripple, Dash and other currencies based on the current exchange prices around
the world. With one click users can exchange their SponsorCoins into any of the
supported blockchain crypto-currencies.
Each exchange is supported with USD or CAD
held on SponsorsOne's balance sheet in a segregated account and reported
quarterly through an audit report. This cash reserve is built up from the
revenue generated through successful marketing campaigns that lead to sales
directly with brands that contract with SponsorsOne. SponsorsOne earns 20% of
revenue generated from brand sales and will set aside 10% (2% of sales) of
revenue as a cash reserve. Exchanged SponsorCoins will be returned back to
SponsorsOne's account for allocation back to the contracted brands supporting
further smart marketing campaigns and ongoing revenue generation.
Kodak (NYSE: KODK)
issued a statement on January 31st about the KODAKCOIN https://kodakcoin.com/
saying that they had interest from over 40,000 investors for the coin and were
now in the process of “accredited investor” verification that may take several
weeks.
On January 31st Overstock.com,
Inc. (NASDAQ: OSTK)
announced the launch of a digitally
driven investment platform, powered by tZERO Advisors, within the online
retailer’s FinanceHub™.
“This service introduces robo-advising
investment management services to our millions of customers and continues
Overstock’s commitment to bridging Wall Street and e-commerce,” said Patrick M.
Byrne, Overstock’s founder and CEO.
“Overstock currently delivers world-class
service and award-winning customer experiences to as many as 40 million unique
visitors per month. They trust us with their home and, more recently, auto
purchases,” continued Byrne. “We are excited about this new program that offers
our customers the opportunity to bring artificial intelligence to their
financial planning.”
tZERO Advisors is powered by FusionIQ’s B2C
investment platform. FusionIQ is an innovative fintech company that provides
intelligent investment solutions that enable easy online investing.
Investors can select from a group of
pre-established Adaptive Dynamic Portfolios that are matched to their
investment profile or can create a customized blend of these portfolios for a
low-cost monthly fee of $9.95.
The robust platform is driven by FusionIQ’s
proprietary algorithms and scoring system that develop and rebalance the
Adaptive Dynamic Portfolios based upon dynamic market factors.
Addressing some of the volatility and
concerns in the cryptocurrency sector , Fred Schebesta, CEO and co-founder of finder.com
recently said following the recent collapse
,“Cryptocurrency is without a doubt one of the most exciting disruptors
the financial and tech industries have ever seen. As various coins have moved
out of niche investor circles and into the mainstream, its driven equal amounts
of enthusiasts and naysayers to near hysteria.
“Investing in general is a rollercoaster ride, full of frequent peaks
and troughs. However with an industry as fast-evolving and dynamic as
cryptocurrency, it’s expected that these highs and lows will be even more
dramatic and more often. This is evidenced by the huge spikes and dips we’re
now seeing of double digit percentages in just a day.
“A number of factors can drive the direction of a price. Anything from
political movements, media reports, company announcements and publicized expert
opinions. The only thing that is certain is that nothing stays stagnant for
very long.
“As with any investment it’s important that you do your research
thoroughly and only commit as much as you can afford. I also urge would-be
investors to consider investing as a long-term strategy and not a get rich
quick scheme. Consider the big picture as opposed to following the excitement
or panic actions of others.”
For a list of blockchain stocks visit:
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