Gold company – s stock leaps 1300% after switching to bitcoin

Bitcoin has bot kicking the stuffing out of most mining stocks lately, spil the cryptocurrency resumes to climb to fresh heights.

Overheen the last three months bitcoin has doubled te value every month, but with the gains have come some truly scary volatility. Te the last week of November bitcoin dropped $Two,000, plunging from north of $11,000 to $9,428 te just one session. But spil of Sunday, bitcoin wasgoed on the stir again, last trading at $11,274.

So it seems only natural that with many investors piling into cryptocurrency and blockchain technology companies, some precious metals companies might be tempted to make a pivot.

That’s exactly what happened with a petite Israeli gold company that determined six weeks ago to refocus on blockchain and cryptocurrencies. According to its webstek Natural Resource Holdings (TLV:NLH) has acquired five deposits ter North America hosting a combined 1,590,000 ounces of gold, 34.Five million ounces of silver, and 430,000 tonnes of zinc/lead. Then the concentrate switched to bitcoin.

Te the last month and a half the shares of NLH have leapt 1300% ter Israeli Fresh Shekels. According to Bitcoin.com the company’s very first step is to acquire a Canadian bitcoin mining farm, and is ter negotiations with BACKBONE Hosting Solutions to buy 75% of its shares ter exchange for 75% of its own stock. Bitcoin.com says the announcement has made NLH the 10th most actively traded stock on the Tel Aviv Stock Exchange.

Could other gold companies go after suit and lead to an eclipse of gold by bitcoin, with a rush of investors fleeing the gold space? According to renowned precious metals investor Open Holmes, the reaction is likely no.

That’s because gold has other uses besides currency, it doesn’t need massive amounts of power to be traded, and it is far more liquid. Or ter his words:

For one, cryptos are rigorously forms of currency, whereas gold has many other time-tested applications, from jewelry to dentistry to electronics.

Unlike cryptos, gold doesn’t require tens unit to trade. This makes it especially useful te situations such spil hurricane-ravished Puerto Rico, where 95 procent of people are reportedly still without power. Right now the island’s economy is cash-only. If you have gold jewelry or coins, they can be converted into cash—all without tens unit or WiFi.

Eventually, gold remains one of the most liquid assets, traded daily te well-established exchanges all around the globe. Every day, some 13.8 billion, or $Legal billion, worth of physical gold are traded te London alone, according to the London Bullion Market Association (LBMA). The cryptocurrency market, albeit expanding rapidly, is not fairly there yet.

Related movie: How to accelerate pending bitcoin transaction FREE…by Ajmi Khan


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