First Bitcoin Capital Corp. (OTC Pink: BITCF) is engaged as a Bitcoin and blockchain software developer. Shares of the blockchain company are gaining 7.20%, through afternoon trading on Monday, August 21, 2017. Over the past three months, First Bitcoin Capital Corp. has seen average daily volume of 2.44 million shares. However, volume of 1.49 million shares or dollar volume of $1.97 million, has already exchanged hands on Monday.
Shares of First Bitcoin Capital Corp. are rallying today, after the company reported earnings, announced new Transfer Agent, and commented on Caveat Emptor change. During the second quarter, the Bitcoin company reported net earnings of $378,708. Furthermore, the company announced it has hired Nevada Agency Transfer as its new transfer agency. Lastly, the company says it expects to be current “within days.” Here is the full press release detailing of the corporate updates:
First Bitcoin Capital Corp. Press Release:
August 17, 2017 Vancouver BC, First Bitcoin Capital Corp (OTC:BITCF) announces that its second quarter net earnings exceeded projections coming it at $378,708.49. These earnings derive from some of the digital currencies earned during the period, including Tether (USDT) and Altcoin (ALT). USDT was received from the ICO proceeds of ALT and ALT was earned as a 10% fee from the ICO sales of Altcoin. USDT remains stable at $1 per coin while ALT substantially declined since the quarter ended. The company anticipates greater earning in the third quarter form its ICO of $WEED (COIN:WEED).
Management determined that selecting a more modern, well established transfer agency would provide better services to the company and its shareholders and is proud to announce that Nevada Agency Transfer, which has been in business for more than 100 years and will allow the company 24/7 online access to its shareholder data.
Before the market closed on Monday, we put out a news release warning the public that the demand for our shares was over exuberant and OTC Markets shortly thereafter added the Caveat Emptor symbol on its web site concerning our common stock. We expect to be moved from the Limited information status to current within days, however, the policy stated by OTC Markets is to wait 30 days before considering removal. While this may seem unfair to our loyal shareholders, and make it difficult at some firms for new shareholders to speculate in our future, this action may be necessary to keep our stock from reaching unsustainable new highs.
We would like to reiterate that “while the company believes that it is the well established leader of all microcap public companies focused on the revolutionary blockchain technologies, and has achieved far greater progress above its pubco competitors, the exuberance for not only our common shares but for that of all in this space is far outpacing performance and realistic expectations. These expectations seem premature if not unjustified.”
One factor that is greatly exaggerating the drive for cryptocurrency related stocks is the phenomenal performance of Bitcoin (COIN:BTC) with top firms calling it the best performing asset of 2017 even before it broke $4000 and recently reached $4400 per coin.
The company asks all potential shareholders to carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and to take note of the fact that all of the extensive inventory of our numerous altcoins, while showing significant potential, is highly speculative, and these cryptocurrencies are extremely illiquid and only trade sporadically on small cryptocurrency exchanges.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see 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. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies.
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company’s filings, which are on file at www.OTCMarkets.com.