The bitcoin space is really gaining traction right now. The price of bitcoin, which rightly or wrongly markets are using as a bellwether for the success of the sector and its underlying framework, is topping out at fresh annual highs, and depending on what exchange you’re looking at, it’s clocking in at or around $1,300 a pop. We’ve seen it dip from these levels (or similar) in the past, and a correction could be on the cards near term, but the longer term trend is a bullish one.
As the tape prints out fresh highs, major news medias starts to ramp up its coverage of the digital currency space – we see it every time. As coverage increases, public desire to gain an exposure rises (nothing new there), and traders and investors go looking for assets that offer said exposure.
As many reading will likely already know (especially those that follow our coverage on a regular basis) these exposures are pretty limited right now. Outside of actually buying bitcoin, company’s like MGT Capital Investments Inc. (OTCMKTS:MGTI), BTCS Inc (OTCMKTS:BTCS) and – somewhat indirectly – Overstock.com, Inc. (NASDAQ:OSTK) account for the majority of public market allocations.
We’ve looked at a few of these in the past before, and each has its own merits and pitfalls, but here’s a new one – Global Arena Holding Inc (OTCMKTS:GAHC).
Global Arena Holding has two subsidiary companies – one called GAHI Acquisition Corp and one called Global Election Services. The former was set up to serve as a moniker through which Global Arena could operate crypto type business – specifically, through the application of the blockchain (the technology framework that underpins bitcoin) to various different areas of tech and finance.
The thing to realize in this space is that it’s blockchain that is the game changer – not bitcoin. Bitcoin is a currency that uses the principles of the blockchain (and uses its own blockchain) to operate and function. The blockchain concept, however, can be applied to pretty much anything that can benefit from time stamped data.
That’s a big list, of course, and Global Arena is trying to bring a few of its own blockchain type applications to market. It’s doing so through a brand of its GAHI sub called Blockchain Technologies Corp (BTC), and as per the most recent communication, BTC is working on applying the blockchain to the notary space, smart contracts and wills, ATM machines and – and this one’s of note – voting. The latter, of course, fits in nicely with the company’s other sub, Global Election Services, and therein lies the synergy between the two arms of operation. Lots of other companies are working to apply blockchain to smart contracts, and ATMs, etc., most of which are more advanced in their efforts than Global Arena. If the company can get its voting technology off the ground, however, it could be a real winner. Anything from shareholder voting to elections can benefit, and the company is already established in this space – it just needs to adapt its Election Services operation to incorporate blockchain, and it’s up and running.
It’s still early days, of course, and in terms of material advance, there’s very little on which to base justification for an exposure. It’s going to need cash to get these things developed, and this cash is going to come from early stage holders – holders that are likely setting themselves up for a degree of dilution going forward.
With that said, however, companies that are getting a head start on these sorts of blockchain applications have an advantage over some of the larger more cumbersome tech entities that are likely going to want to do so in the coming years, as bitcoin and blockchain becomes more mainstream. Anyone looking for an exposure to this advance is limited in choice, and Global Arena Holding is one of these limited exposure options.
It’s a punt, and one with a long way to go before it can be seen as executing on its strategy to any degree, but there’s plenty that could happen over the coming twelve months to boost PPS, and this makes it worth watching as a potentially speculative play.
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Disclosure: We have no position in any of the securities mentioned and have not been compensated for this article.