Today was a HUGE day for NIA with BTL Group (TSXV: BTL) soaring $0.67 or 17% to $4.63 on strong volume of 344,214. Look for BTL to surpass its all-time high of $4.92 per share as soon as tomorrow. BTL had major resistance in the $4.91-$4.92 area last month, but now has the momentum and volume to easily break through it. As soon as BTL surpasses its key breakout point of $4.92, NIA is 100% sure it will immediately begin to explode on massive volume!
If BTL surpasses $4.92 per share tomorrow, we predict that BTL will rapidly rise to between $6.50 and $7 per share by Tuesday of next week – and could possibly reach $8-$10 per share by the end of next week.
There are many stock market investors who are bored with the NASDAQ and realize it is approaching its peak. They see Bitcoin and Ethereum prices exploding and want to capitalize, but might not have an account at any Cryptocurrency exchanges – and are reluctant to open one. Investors are desperate for a way to capitalize on Bitcoin and Ethereum using their stock brokerage account.
This is why the stock of First Bitcoin Capital Corp (BITCF) on the pink sheets is up 1,262% year-to-date and is currently trading with a market cap of $119.32 million, despite the fact that its CoinQX Bitcoin exchange is phony/fake – and the company has no real Blockchain technology at all. BITCF is worth $119.32 million because it has Bitcoin in its name and most investors don’t understand Cryptocurrencies enough to realize the company is a scam.
The Winklevoss Twins Bitcoin ETF was recently rejected by the SEC, but there is a publicly traded closed-end Bitcoin fund on the pink sheets called Bitcoin Investment Trust (GBTC). The problem is, because GBTC is a closed-end fund and not an ETF, it can’t issue new shares in response to demand to buy more Bitcoin. Unfortunately, investors who purchase GBTC probably don’t realize that its market cap far exceeds the net asset value of its Bitcoin holdings.
GBTC finished last week at $219 per share with Bitcoin trading at $1,899. GBTC owns 0.093063 Bitcoin per share, which meant that its Bitcoin holdings were being valued at $2,353.23 for a premium of 23.9% over Bitcoin’s market value.
So far this week, GBTC has gained 89.5% to a closing price today of $415 per share. While GBTC has soared 89.5%, Bitcoin has gained by only 30% to a price at 4PMEDT today of $2,469.25.
This is absolute insanity and proves how desperate investors are becoming. GBTC’s Bitcoin holdings are now being valued at $4,459.32 for a premium of 80.6% over Bitcoin’s market value!
BTL is getting ready to officially launch the beta version of its Ethereum-based Interbit Blockchain technology platform in July and will begin enabling key clients like Visa to build their own Blockchain applications on Interbit directly.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.