Global Blockchain Technologies (BLOC: TSXV) is the latest blockchain deal to mint millionaires in Canada. Two Pinnacle members saw this coming and are up huge in October’s Stock Challenge. But first, what exactly is blockchain?
Robert Hackett from Fortune defined blockchain in 2016, writing,
“…the blockchain is actually a way to structure data, and the foundation of cryptocurrencies like Bitcoin. This coding breakthrough—which consists of concatenated blocks of transactions—allows competitors to share a digital ledger across a network of computers without need for a central authority. No single party has the power to tamper with the records: the math keeps everyone honest.”
Blockchain is Bigger than Cryptos
For the exact reason that blockchain is the system while cryptocurrencies are one of many simply benefiting from it.
First it was the cryptocurrencies themselves, now speculators are making a killing on ‘blockchain deals’. Check out Global Blockchain has moved from pennies to a recent high of $3.55 per share.
Global Blockchain Technologies – 1 Year Chart
When demand for thinly traded stocks with less than 20 million shares outstanding, valuations can soar in short periods of time. Hence, the rush to these fast-moving blockchain deals is on.
HIVE Blockchain Technologies is another example of the liquidity that can befall these blockchain deals. While it hasn’t had the same epic runup in value over many months, its total volume traded since going public is stunning.
In the first ten trading days, more than 45 million shares exchanged hands between $0.74 and a high of $2.27. The total value of shares exchanged nearly topped $50 million in the first four trading days. All this for a newly listed blockchain company.
Back to Global Blockchain Technologies
On October 11th, Global Blockchain Technologies announced the appointment of an industry leading Blockchain Team.
The company’s new management team now consists of Mr. Steven Nerayoff as Chairman, Mr. Rik Willard as CEO, , Mr. Shidan Gouran as President and Mr. Kyle Kemper as Chief Strategy Officer. The company reported,
“Mr. Steven Nerayoff, Esq. LL.M. (Chairman) is a prolific serial entrepreneur and attorney having founded six companies in both Silicon Valley and New York. He is an early pioneer and leader in the Blockchain industry and a senior advisor to Ethereum and Lisk and personally coined the terms “Gas” or “Fuel” to describe the functionality within Ethereum’s protocol. Steven advised and contributed to Ethereum from its earliest days, created the initial legal framework and co-drafted the crowdsale model which set the standard for all other crowdsales to follow.”
Click here to read the entire press release.
Rainendown and mjca leading with Global Blockchain Technologies
Long-time Pinnacle members ‘Rainendown‘ and ‘mjca‘ are both past Stock Challenge Champs. They are the only two members who selected Global Blockchain Technologies for October’s Stock Challenge.
As a result, all members are now chasing Rainendown’s 45.43% combined average return.
