GLOBAL BLOCKCHAIN (OTCMKTS:BLKCF) has recently become one of the most dynamic stories in the blockchain wing of the OTC. Shares caught another bolt higher to close out last week as the crypto space continues to heat back up following an announcement out of the CME that we will have a bitcoin futures contract by year-end. In addition, the company recently announced two new possibly key alliances that the company believes will materially augment its image as an increasingly global operator.
According to the release, “first, it has joined the Hyperledger Foundation, an open-source collaborative effort to create enterprise-level, cross-industry blockchain technologies. In addition, Global Blockchain Technologies has established a strategic partnership with Wachsman PR, the world’s largest public relations firm specializing in the blockchain industry. These partnerships will provide GBT with guidance on blockchain development and media relations.”
GLOBAL BLOCKCHAIN COM NPV (OTCMKTS:BLKCF) frames itself as an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol \”BLOC\”.
According to company materials, “Global Blockchain Technologies Corp. is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC”. Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io”
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Global Blockchain Technologies Corp. CEO Rik Willard said: “We are proud to establish these critical relationships with the Hyperledger Foundation and Wachsman PR. As a new entrant in the space led by seasoned veterans from various areas of the blockchain industry, we will remain open and eager to explore and enhance our understanding of a variety of distributed platforms. We feel that there is room for multiple decentralized and distributed solutions, so we are very excited by the opportunity to work with the Hyperledger Foundation, which offers a diverse set of software options for enterprise applications. Additionally, our collaboration with Wachsman PR will allow us to better engineer the growth of prominent blockchain startups and allow GBTC to effectively communicate its mission to promote some of the world’s most promising companies in this rapidly-developing space.”
The chart shows 29% added to share values of the company over the past week of action. Market participants may want to pay attention to this stock. BLKCF has a history of dramatic rallies. Moreover, the listing has seen interest climb, with an increase in recent trading volume of 0% beyond its prior sustained average level.
Traders should note this as important given the stock’s limited trading float of 18M shares. This type of thing is something to watch out for: a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.
Now commanding a market cap of $41.2M, BLKCF has a stash ($490K) of cash on the books, which compares with virtually no total current liabilities. The company is seeing recent declines on the top-line on a sequential quarterly basis as of its latest reporting period. Nonetheless, this is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $BLKCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $BLKCF, either long or short, and we have not been compensated for this article.
