Cryptocurrency Market is Expected to Grow

NEW YORK, July 31, 2017 /PRNewswire/ --

The cryptocurrency market has experienced significant growth this year. According to Coinmarketcap, the total market capitalization of the cyptocurrency market has reached $89 billion. Bitcoin is still the leading digital currency in the market, with a market cap of over 44 billion. Bitcoin's biggest rival, Ethereum continued to gain popularity this year. Ethereum is up over 2400% year-to-date and is now trading at $203.11, but it hit record highs of over $400 in early June. Acana Capital Corp. (CSE: ACM.CN), First Bitcoin Capital Corp. (OTC: BITCF), BTCS Inc. (OTC: BTCS), Bitcoin Investment Trust (OTC: GBTC), MGT Capital Investments, Inc. (OTC: MGTI)

Bitcoin is now trading at $2678.4 a coin. The cryptocurrency has surged over 170 percent this year. Despite recent concerns over the potential split of Bitcoin, investor interest in bitcoin is still increasing. Developers will decide whether Bitcoin will split into two or not by August 1st. "Bitcoin is rallying largely because the probability of Segregated Witness being activated is increasing as more miners signal that they will activate it," said Ari Paul, CIO of BlockTower Capital, a cryptocurrency investment firm, CNBC reported.

Acana Capital Corp. (CSE: ACM.CN), listed on the Canadian Stok Exchange, under the ticker 'ACM', announced after the market close last Friday that, "Acana Capital Corp. has entered into a letter of intent (LOI) with Blockchain Technology Group Inc., doing business as Blockchain Intelligence Group (BIG). The LOI contemplates a business combination transaction, pursuant to which Acana will acquire all of the issued and outstanding common shares of BIG in exchange for 27 million post consolidated common shares of Acana plus the issuance of 1,612,500 incentive stock options, 3,579,089 share purchase warrants and the issuance of up to 13 million performance warrants exercisable upon BIG meeting certain fiscal metrics following the closing of the acquisition. The acquisition is an arm's-length transaction and is expected to constitute a fundamental change under the policies of the Canadian Securities Exchange (CSE).

BIG is headquartered in Vancouver, B.C., Canada, and is an information technology company. As a developer of blockchain technology solutions, search and data analytics, BIG's proprietary platforms will globally target governments, law enforcement and the fintech sector. BIG presently has two products: Qlue and BitRank. Qlue is an API (application program interface) platform for law enforcement to aid in the fight against financial crimes involving bitcoin. It incorporates various techniques and advanced search algorithms to detect suspicious activity within bitcoin transactions' use of Dark Web tools, such as Tor and other methods commonly used by criminals to cover illegal activities. BitRank is a wallet scoring system that uses seach and analytics systems to determine a safety level of a bitcoin transaction by ranking the wallets involved in the transaction on the blockchain. Additional information is available on the BIG website.

Details of the acquisition- The LOI sets out certain terms and conditions pursuant to which the proposed acquisition will be completed. The acquisition is subject to the parties successfully entering into a definitive business combination agreement in respect of the acquisition on or before September 8, 2017, or such other date as Acana and BIG may mutually agree."

First Bitcoin Capital Corp. (OTC: BITCF) is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - The company sees this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. First Bitcoin Capital Corp and Simple Automated Money, Inc. announced on June 19th, that SAMCO will provide automated check-cashing kiosks through BITCF locations in Northern California. SAMCO's web-enabled automated check-cashing kiosks merge unique and exclusive check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.

BTCS Inc. (OTC: BTCS) is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with Digital Assets and blockchain technologies. BTCS intends to acquire digital assets through: open market purchases, participating in initial digital asset offerings. BTCS Inc. announced earlier in February that the company, with Spondoolies-Tech Ltd., an Israeli transaction verification server manufacturer, received merger approval from the Israeli Office of Chief Scientist. "BTCS has positioned itself at the core of this disruptive transformation, and we are excited to combine forces to capitalize on the immense opportunities that lie ahead. The Israeli Office of Chief Scientist approval places us one important step closer to completing the merger", said Charles Allen, Chief Executive Officer of BTCS.

Bitcoin Investment Trust (OTCQX: GBTC) is an open-ended trust invested exclusively in bitcoin and derives its value from the price of bitcoin. It proves investors with the opportunity to gain exposure to the price movement of bitcoin without buying, storing, and safekeeping bitcoins. Bitcoin Investment Trust's sponsor, Grayscale Investments is a wholly-owned subsidiary of Digital Currency Group. On their website, the company claims, "At Grayscale, we believe investors deserve an established, trusted, and accountable partner that can help them navigate digital currency investing. That's why we are building transparent, familiar investment products that facilitate access to this burgeoning asset class, and provide the springboard to investing in the new digital currency-powered 'internet of money'."

MGT Capital Investments, Inc. (OTC: MGTI) is in the process of acquiring and developing a diverse portfolio of cyber security technologies. MGT is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, as well as corporate networks. MGT Capital Investment announced on May 22nd, that it closed on financing to allow the Company to materially ramp up its Bitcoin mining operations. The financing consists of a $1.35 million 10% convertible note issued to a single institutional investor. The note is self-amortizing with a maximum repayment of $90,000 per month. In conjunction with the note, the Company also issued the investor 1.2 million warrants with an exercise price of $1.05 per MGTI share.

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