Thursday, September 21, 2017

HIVE Becomes First Cryptocurrency Stock

Article: HIVE Blockchain Technologies (TSXV:HIVE) (OTCMKTS:PRELF) Is One Of The Top Bitcoin Stocks Around - Insider Financial

Company Site: HIVE Blockchain Technologies - Main Site

Cryptocurrency enthusiasts have been wanting to know when there would be a stock market play for Bitcoin, Blockchain or mining. This week, it happened! HIVE Blockchain Technologies is now trading on the Canadian TSX Venture Exchange, and as an OTC stock on the U.S. market.

HIVE is buying mining time off of Genesis Mining, who is considered the leading cloud mining supplier. HIVE proposes to use their capital to do mining and produce income. It should be interesting to see how it all pans out.

Now, there has been Bitcoin Investment Trust (GBTC), which is traded on the OTC market. But, that is basically just a bunch of Bitcoin. You can directly buy Bitcoin on many well-regarded exchanges, making GBTC fairly redundant. HIVE is actually a company that is directly engaged in the Blockchain.

Now, folks, this is speculative stuff! It's up to you if you're going to spend money on this. But, I basically just took money generated from my bond funds and bought a smaller amount of the OTC. You can invest in the Canadian stock directly through certain brokerages. I have only dipped my toes into two OTC stocks ever. This one, and Tencent of China, who provides internet products, similar to those of Baidu, who are on the regular U.S. stock market.

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