Cryptocurrency exchange Coinbase (NASDAQ:COIN) exploded out of the gate, with the company achieving a valuation of $104 billion. While the stock now trades at $328, one analyst thinks it could see higher highs on the heels of the red-hot cryptocurrency boom. In fact, Moffett Nathanson analyst Lisa Ellis, as noted by Yahoo Finance, says the “must own” stock could hit $600 a share long-term. That, plus seemingly unstoppable cryptocurrency demand is also a major catalyst for companies such as TechX Technologies Inc.’s (CSE:TECX) (OTC:LLNKF)(FRA:C0B:FF) Catalyx.io, Riot Blockchain (NASDAQ:RIOT), Marathon Digital Holdings Inc. (NASDAQ:MARA), and BIGG Digital Assets Inc. (CSE:BIGG)(OTC:BBKCF).
"We are positive on the outlook for cryptocurrencies as a massively disruptive technology," Lisa Ellis added. "Coinbase, as the only U.S.-listed large-cap stock and the market leader in the space, is really a must-own asset if you're a growth or tech oriented [investor] with a multiyear time horizon. "With Coinbase, because of their tie to the crypto markets, it's going to be a bumpy ride. You have to have a strong stomach, you have to be willing to kind of gut your way through what is likely to be these peaks and valleys."
TechX Technologies Inc. Making Headlines with Netcoins Founder, Michael Vogel
TechX Technologies Inc. just welcomed Netcoins Founder and Coinstream CEO, Michael Vogel, as an Independent Director and his brother, CyberSC Founder & Chief Strategist Dominic Vogel, as an Advisor.
Michael Vogel is a well-known leader and pioneer in the Bitcoin world. He founded Netcoins in 2014, rapidly scaled the company as CEO & CTO to thousands of customers and millions in revenue, before leading the company to public listing in 2018 - notably the first crypto company of its type to be publicly listed. Netcoins, which was acquired by BIGG Digital Assets Inc. (CSE:BIGG) (OTC:BBKCF) in 2018, is now one of the largest and longest operating Bitcoin exchanges in Canada.
Michael is now the CEO of Coinstream, a Bitcoin company aimed at the US market, offering an ultra-simple way for Americans to buy cryptocurrencies. He is also founder and CEO of Encore Ventures, which is involved in the development and incubation/advisory of new startups and technologies in both crypto and tech spaces.
Michael's specialty is fast-growing startups in disruptive sectors: taking new ideas and products from concept to market to scale, something he has done multiple times in building several multi-million dollar startups. He brings a wealth of experience and knowledge across board, public markets, executive and engineering levels. Michael is regularly interviewed in both Canadian and international media as a thought leader in the crypto industry.
“Bitcoin and the cryptocurrency ecosystem is in a major growth phase, and TechX is very well positioned for rapid growth. The TechX team has already demonstrated a solid track record of success, and I'm excited to bring my sector knowledge and experience in scaling startups to the team,” said Michael Vogel.
As Founder & Chief Strategist at CyberSC, Dominic Vogel holds a proven track record within cybersecurity across a multitude of industries (financial services, logistics, transportation, healthcare, government, telecommunications, and critical infrastructure). Dominic actively participates in the Vancouver security community and is a well-respected cybersecurity expert for appearing on media news outlets across North America and Internationally on BBC World News. Dominic is highly regarded as a cybersecurity thought leader and was recently appointed to the BC Provincial Cyber Security Advisory Committee.
Dominic focuses much of his energy on providing strategic security leadership to technology start-ups and small/midsize businesses to proactively solve their cyber risk challenges. He strives to provide practical cybersecurity advice to his clients and actively turning the security consulting world upside down.
“We are extremely pleased to have these two highly-seasoned experts join the Company during our exciting move into the cryptocurrency space,” said TechX CEO, Peter Green. “We’ve been working diligently to find the best of the best to assist with our vision to drive advancements in crypto and shape the future of digital technology through our team’s ever-growing industry and operational expertise.”
“Michael is a cryptocurrency pioneer who personally founded and bootstrapped two multi-million dollar companies, including Netcoins, which he brought from nothing to $20 million in sales before it was acquired and publicly listed in 2018. Dominic has an equally impressive role within the cybersecurity space and is highly regarded for his deep expertise across several massive industries. I can’t think of two better leaders to add to the TechX team,” he added.
Further, the Company has granted an aggregate 450,000 incentive stock options. The Options are exercisable at $1.19 per share for a period of two years from the date of grant and subject to vesting over two years. The Options have been granted under and are governed by the terms of the Company's incentive stock option plan.
Other related developments from around the markets include:
Coinbase co-Founder and CEO Brian Armstrong recently noted, “A decade of work and so many people brought us here. This includes every Coinbase employee, focused for years on building a financial system that’s free, fair, and open to everyone. It also includes you, the 56 million people who use Coinbase. And of course, we have to recognize Satoshi Nakamoto, who started it all by introducing Bitcoin to the world in 2008. We’ve had a number of ups and downs on our way here. Through luck and skill, Coinbase succeeded where many predicted it would fail. We weathered the ups and downs through innovation and keeping our eye on the long term. And along the way, we made cryptocurrency easier to use, introducing millions of people to this new technology. I’m proud of what we have accomplished so far. But we certainly didn’t do all this work just for one day.”
Riot Blockchain, one of the leading Nasdaq listed Bitcoin mining companies in the United States, announces an operations update that includes an unaudited Bitcoin production and an unaudited BTC holdings update, through March 2021. In March 2021, Riot produced 187 BTC, an increase of 80% over its pre-halving March 2020 production of 104 BTC. In Q1 2021, the Company produced 491 BTC, an increase of 75% over its pre-halving Q1 2020 production of 281 BTC. As of March 31, 2021, Riot holds over 1,565 BTC on its balance sheet, all of which was produced by its mining operations. On April 6, 2021, the Company bolstered its management team, appointing Megan Brooks as Chief Operating Officer and welcoming Phil McPherson as Vice President, Capital Markets and Ryan Werner as Vice President, Finance. On April 8, 2021, Riot announced that it had signed a definitive agreement to acquire Whinstone US, Inc., creating a US-based industry leader in Bitcoin mining.
Marathon Digital Holdings Inc., one of the largest enterprise Bitcoin self-mining companies in North America, published unaudited bitcoin production and miner installation updates for the first quarter, ended March 31, 2021. Produced 196 new minted bitcoins in the first quarter of 2021, increasing total bitcoin holdings to 5,134.2 with a fair market value of approximately $301.9 million as of March 31, 2021. At March 31, 2021, cash on hand was approximately $212 million and total liquidity, defined as cash and bitcoin holdings, was approximately $513.9 million. Received approximately 10,300 S-19 Pro ASIC miners from Bitmain during the first quarter of 2021.
BIGG Digital Assets Inc., owner of Netcoins (Netcoins.ca), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, is pleased to announce that February 2021 daily revenues grew by an impressive 54% Month over Month (MoM), and trading volumes set another consecutive monthly record. Further, Netcoins would like to update shareholders with the following key metrics from February: Monthly revenues hit a new record high of ~$1.25 million, Monthly Active Users has grown by 41% MoM, Assets Under Custody (AUC) has grown 69% MoM, Daily verified users (full KYC) grew by 49% MoM, Trading margins continue to track above 1% . Netcoins president, Mitchell Demeter, remarks “Despite February being a shorter month, Netcoins has continued to grow at an exceptionally fast pace. We are encouraged by all major metrics, particularly new customer onboarding – which increased by nearly 50% daily – which is the engine for future revenue and trading volume growth. As we head into March, we will continue to expand our marketing programs. I look forward to updating shareholders on our progress again soon.”
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