Cryptocurrency Stocks on the Rise?
Crypto Consultant - Ollie
Who said cryptocurrency trading and the stock markets aren't associated? Since Bitcoin's meteoric climb above the $50,000 line a few days ago, it seems that most crypto-based stocks are possibly chasing the asset's steps and now selling at fresh peaks for the year.
Crypto Stocks Have Been Firing all Cylinders.
Bitcoin has been on a significant roll lately. In reality, it can be seen that the asset is now on a bullish streak for almost a year now, having rocketed to around $9,000 in May last year after reaching a new low before at the $4,000 mark.
There has also been strong debate over the years that Bitcoin and the stock market are interconnected, and that when one goes up or down, the other is likely to see movement. As we've seen right now, this statement may have some validity behind it, as many crypto-related stocks are improving themselves and hitting some amazing price lines.
Examples include KR1, a London-listed virtual investment company. In the last three months, the company has seen an incredible 800% increase in its shares. The company has established its credibility by investing in alternative assets such as by buying Ethereum and Polkadot, and now it seems like those bets are beginning to pay off.
In a claim, George McDonaugh – managing director of the London-based firm, said ‘KR1 was set up to allow investors access to the crypto economy’ granting exposure via a publicly-listed business.
Cryptocurrency stocks have been said to outclass the underlying assets due to the technology that encourages individuals to invest in public assets such as 401Ks and ISAs. If you can tax-wrapper anything as explosive as Bitcoin, it makes a lot of sense in many investor's eyes.
We've already seen a number of crypto mining stocks erupting in the last few months. Marathon Digital Holdings in Las Vegas, Nevada, has increased by about 500% since December, while Riot Blockchain in Colorado has also increased by about 400%.
Though it has been reported that many of these crypto stocks are increasing in popularity, they cannot be used within the blockchain networks or enabled with smart contract capabilities.
If you are looking to buy and sell cryptocurrency but are looking for a trustworthy cryptocurrency broker, head over to BC Bitcoin, the UK’s most trusted Bitcoin broker. Register an account with us today to start safely investing in cryptocurrency.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards