BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) Remains A Top Bitcoin Play

We have covered BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC), the tech company, for many months. The share price has moved quite a bit, which seems to be exciting the market. This is what we said in our previous report; "BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) Is A Big Winner, What’s Next?":"Fast forward to the start of this week and the stock is trading for $0.11 a piece, just off highs of $0.12. For our readers that took a position on the back of our coverage that’s a 200% seven-day gain." SourceIn this piece, we will again cover the company's activities and the most relevant announcements made in 2016 and 2017 that contributed to the share price appreciation. Have a look at the most recent share price action:

SourceBusinessBTSC is involved in two major activities; bitcoin mining and blockchain software development. Bitcoin Services Inc. acts as a third party between a buyer and seller while doing business online. Bitcoins are more than just a speculative instrument now, as they have gone into the mainstream. Bitcoin has proven that they are not just a fad. Many experts believe that Bitcoin is here to stay, and its run-up will continue, although not without setbacks and volatility along the way.Recent DevelopmentsOn May 3, 2017, the company announced that it began mining Monero in the 1st quarter of 2017. Monero is one of the rapidly growing digital currencies in the market right now, as it has a market capitalization of over $300 million USD. Bitcoin Services Inc. also informed that it is in the middle of developing a new Cryptocurrency wallet that will let users safely store multiple digital currencies in one wallet.On January 4, 2017, Bitcoin Services Inc. announced that it purchased four Antminer S9 bitcoin miners. The report further read that “Antminer S9 has more hashing power than any previous device crammed into its silicon. A massive 14 TH/s (TeraHash per second). A total of 189 chips, spread over 3 circuit boards, are combined to achieve this phenomenal hashrat.” Bitcoin Services Inc. also informed its shareholders that the company has no plans for a reverse split. On October 13, 2016, Bitcoin Services Inc. announced an online marketplace, where the bitcoin can be used for the exchange of goods & services. The list of goods includes real estate, cars, apparel, electronics. The services, on the other hand, will include plumbing, catering, and delivering. Paying in Bitcoin has several advantages, as it can be used to send and get money from anywhere in the world, to any person and at any given time. When being paid via Bitcoins, it can also be made and finalized without one's personal information being tied to the transactions. Consequent to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft. Furthermore, Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure. In addition, there are currently either no fees or very low fees within Bitcoin payments.Attorney LetterOn June 2, 2017, an important document was received. MATHEAU J. W. STOUT, ESQ, attorney at law, put out a letter, wherein we could read that the company is in compliance with the Securities Exchange Act of 1934. This is what you need to know:

"Based on the examination and inquiry set forth above, I am of the opinion that the Information: (a) constitutes “adequate current public information'” concerning the common stock of the Company quoted on the OTC Markets (“Securities”) and the Company itself, and “is available within the meaning of Rule 144(c)(2) under the Securities Act; (b) includes all of the information that a broker-dealer would be required to obtain from the Company to publish a quotation for the Securities under Rule 15c2-11 under the Securities Exchange Act of 1934, as amended (“Exchange Act”)" Source

In our opinion, the letter was partially responsible for the share price appreciation that occurred in June. The fact that the company's attorney claimed that the company was doing things properly should have helped serious market participants check the company's financial statements.SourceWhy is the company so popular?The company is being mentioned on many investment sites. The most interesting article was published in Seeking Alpha on August 3, 2017. The returns that the bitcoin delivered were noted in that article. We could also find that a lot of people are trying to obtain exposure to the Bitcoin. As we said in our previous article, BTSC helps doing that:

"The thing is, none of this really matters right now. The bitcoin space is on fire and traders are looking to pick up an exposure to the dramatic rise in price we’ve seen over the last few months. Bitcoin as a currency is in and around the $2,600 mark right now and looks set to continue appreciating further.These people are looking for an exposure and Bitcoin Services is offering them that exposure. Sure, it’s indirect, and sure, it’s not a long-term investment thesis, but so long as bitcoin is running, Bitcoin Services is going to do the same." Source

Conclusion BTSC has been moving quite a bit in 2017. In this article, we tried to understand what happened by assessing the news that the company put out. We found out that the letter delivered by MATHEAU J. W. STOUT, the lawyer, may have affected the stock price in June. To sum up, this is a great stock to get exposure to Bitcoin.Be sure to check out our coverage on BTSC.We will be updating our subscribers as soon as we know more. For the latest updates on BTSC, sign up below!Image courtesy of worldwide finance via FlickrDisclosure: We have no position in BTSC and have not been compensated for this article.