FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF) Has A Pretty Smart Marketing Team

A couple of weeks ago, we published this piece, detailing our thoughts on a company called FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF). Our thesis was this: that the company was stretched pretty thin from an operational perspective, in the sense that it seems to be trying to cover all its bases by spreading focus across all of cryptocurrency tech (as opposed to just one area), but that this didn’t really matter near term.If anything, it was a good thing, because it allowed management to put out plenty of buzzword packed press releases tying the company to a space that is garnering a rapidly increasing amount of mainstream media attention. Mainstream media attention translates to capital looking for public market exposure, and in the bitcoin sector, there's not too many options that fall into this bracket. This company is one, and that (we surmised) would translate to some near term upside, regardless of what was actually going on behind the scenes at company HQ.At the time, the company was trading for around $0.19 a pop. It's now at $0.27, and looks set to continue appreciating as the week draws to a close. That's a circa 40% run in a week or two, but what's next?Let's try and answer that question.So, for those new to the stock, we've mentioned it's spread pretty thin, but right now the lion's share of its communication is rooted in what it calls its COINQX exchange, and a subset of tradable assets called Bitcoin Unlimited Futures. In the cypto space right now there's a war being waged between two parties – those that support bitcoin (in its original form) and those that want to see a hard fork of the bitcoin blockchain, which would result in two versions of bitcoin – the original version and the newly names Bitcoin Unlimited. No one knows for sure which side will win out, and whether the hard fork will actually occur, and First Bitcoin's Bitcoin Unlimited Futures are basically a way of taking a position on the chances of the hard fork happening.As we've said, it's nothing more than a marketing stunt from the company (there's plenty of exchanges doing a similar thing as we speak), but stunt or not, it's pretty smart. The exchanges offering similar hedge type assets are not publicly traded. This means First Bitcoin is capturing the portion of the public market that wants to gain exposure to the hard fork, without actually having to dabble in any of these baseless futures-type assets, and also picking up clients for the above mentioned exchange, in one fell swoop.Further, the creation of these assets has allowed First Bitcoin to wipe out $200,000 debt through the issue of 2,000 units of its Bitcoin Unlimited Futures asset. This isn’t great for future holders of the asset, as it amounts to pre-mining (the initial offering of these coins hasn’t even taken place yet) and pre-mining essentially dilutes later stakes. For First Bitcoin and its shareholders, however, it's a nice easy way to go debt free, and defer impact of the initial outlay.So what's next?Well, the company is debuting a range of fresh altcoins on its exchange (the latest being the aptly names ALT) and these are all going to draw the interest of a potential customer base. If First Bitcoin can actually get a decent client base on the exchange, then there could be some long term value in an exposure. Short term, of course, there's also likely to be plenty of news driven spikes, as bitcoin's mainstream coverage increases, and as wider markets look to pick up an exposure without actually having to buy bitcoin.Dilution's a dead cert if share price continues to run (and even if it tapers off near term) so keep that in mind, but this one's well worth watching nonetheless.We will be updating our subscribers as soon as we know more. For the latest updates on BITCF, sign up below!Disclosure: We have no position in BITCF and have not been compensated for this article.