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CATEGORY Trading

Cryptocurrencies 2018: These Stocks are Booming, Too



January 21, 2018

In January 2017, the Bitcoin (BTC) was valued at $822.  It’s now up to $13,900.  Over the same time, other coins have done just as well.

  • Ethereum (ETH) soared from $8 to a current price of $1,326
  • NEM (XEM) soared from $0.0033 to a current price of $1.51
  • Dash (DASH) jumped from $16 to a current price of $1,038
  • Litecoin (LTC) jumped from $4.59 to a current price of $246
  • Verge (XVG) jumped from $0.00002 to a current price of $0.1391

But investors are not just making money from buying and selling the coins themselves.  They’re also making money from stocks that are getting caught up in the boom. For example, just the other day, Eastman Kodak (KODK) announced it was launching Kodak Coin, a crypto currency for photographers.  As a result, this month shares exploded from $3.10 to $13.27 in just days.  According to The Verge:

KodakCoins will work as tokens inside the new blockchain-powered KodakOne rights management platform. The platform will supposedly create a digital ledger of rights ownership that photographers can use to register and license new and old work. Both the platform and cryptocurrency are supposed to “empower photographers and agencies to take greater control in image rights management.”

By simply announcing a relationship with crypto currencies, stocks have exploded.

Look at Overstock.com (OSTK).

What’s interesting about OSTK is that it was the first retailer to accept bitcoin and even made the coin offering through its exchange, tZero, according to CNN.  In fact, according to analysts at DA Davidson, “Overstock stands head and shoulders above the others, when it comes to having developed a portfolio of companies with significant efforts to exploit blockchain technology.”

Since August 2017, the stock has soared from a low of $14.30 to a high of $77.65.

Smaller stocks have been big winners, too.  Look at Digital Power (DPW) – a $60 million company that designs, develops, manufactures, and sells power system solutions for the medical, military, telecom, and industrial markets in North America and Europe.

Not long ago, the company announced that its subsidiary Coolisys Technologies would launch a new line of power systems aimed at crypto currency mining. The company said it believes Coolisys could make great strides in reducing the power load crypto currency mining consumes and the costs that come with higher demand.

According to Digital Power President and CEO, Amos Kohn:

“Coolisys Technologies is very pleased to announce this new relationship with PoW Digital Mining whose management has vast experience in all facets of the crypto currency marketplace. Starting with our current catalog of power efficient and durable products as a base, we will collaborate with PoW and combine our efforts to develop a unique in-demand portfolio of equipment and packaged solutions for personal miners and the large pool operators exploiting mining and other activities within this exciting and still often misunderstood sector. Crypto currencies recently surpassed the milestone of generating revenues of $1B annually.”

No wonder the stock skyrocketed from 56 cents in November 2017 to a high of $2.31 in just weeks.

 


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