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On Tuesday, Bitcoin smashed a record high, trading above $50,000 and doubling in value in less than two months. This, after Tesla’s shock announcement that it bought $1.5 billion worth of Bitcoin. The cryptocurrency made history – so much, that Wall Street Institutions expressed interest in allowing customers to use select cryptocurrencies.1
Amid the market’s exciting news, many publicly-traded companies remain vehemently opposed to cryptocurrency – while others have converted to what many consider to be a new digital asset. Those that are pro-crypto tend to be located within North America; Square, Hut 8 Mining, Galaxy Digital Holdings, and more.2 Canada is home to several publicly-traded companies with crypto interests. For them, differentiation is crucial for market success.
Recent developments have placed Cloud Nine Education Group Ltd. (CNI) in the spotlight for various reasons – for example, it has one of the lowest energy costs. While cryptocurrency mining is notorious for its costly nature, CNI’s mining comes at a lower price point than many other companies.
The company recently acquired cutting-edge crypto assets3 as part of a C$6 million deal with Vancouver incubator Victory Square Technologies – putting CNI at the forefront of blockchain technology and the cryptocurrency business. The company’s assets will include:
LimitlessCrypto™ is a patent-pending user-based Bitcoin, Ethereum and Altcoin.
desktop crypto miner with a wait list of over 100,000 for post-beta March 2021 launch. The platform currently generates an average of approximately $11 USD gross revenues in cryptocurrency per user.
MicroBlock™ Miner is an in-home cryptocurrency mining machine – an all-in-one crypto device made for use by everyone, no expertise required. It offers a plug-and-play opportunity to participate in proof-of-work mining protocols like Bitcoin, Ethereum, and more. Users can favorite cryptocurrencies which are then immediately stored in your X2Crypto™ digital wallet.
X2Crypto™ Wallet for Desktop & Mobile is a crypto credit card (VISA™) paired with user friendly cryptocurrency trading and banking services on desktop, mobile and hardware wallets.
According to CNI board member Kant Trivedi, the company will deliver unique products and services within the blockchain sector.
“Cloud Nine works at the intersection of technology, data and human ingenuity to deliver consistent and quantifiable performance advantage to key markets undergoing a large-scale disruptive change: Trading, Crypto-Finance, Validation, Funding and Payments,” Trivedi said in a statement.4
Bitcoin is back – a reality that many naysayers stated would never happen. For them, the rising cryptocurrency may be disconcerting, at the least. The currency’s meteoric rise is fueled by those who aren’t scared of taking a risk. It’s also fueled by institutional investors who are caving to the idea that Bitcoin is becoming the new “digital code” and that in an age of extreme political turmoil, blockchain and its non-governmental approach promises more security than traditional currencies and banks.
The idea of crypto as a primary asset class with a potentially greater chance of retaining its value and being a hedge against risks like inflation. The currency known for its volatility is gaining a reputation similar to that of regular currency trading; there is always a risk.
Success for publicly-traded companies like CNI surpass the conventional trading mining asset. They believed in cryptocurrency long ago. The group provides investors access to a diverse portfolio of next generation internet companies in key sectors including: digital health, gaming, blockchain, AR/VR, cybersecurity, and cloud computing.”5
According to a Globe and Mail article, their strategy has been refined by monitoring the evolution of cryptocurrencies and those who believe in its positive change.
“We’ve spent the last 6 years connecting with and investing in some of the brightest and disruptive minds in the blockchain space; quietly building up a stockpile of applications and IP while waiting for an inflection point to start unleashing these applications to market,” said VST CEO Shafin Diamond Tejani. “We believe that the inflection point is now, and have found a strong team led by Kant Trivedi, with the capital and network opportunities to commercialize some of this IP.”5
The company, through its user-friendly software, is bringing users to the forefront of technology. This increased accessibility makes the crypto market available to beginners and experts alike. Bitcoin, which was criticized by even the most intelligent market experts, is bridging the gap between users and what is now becoming digital gold to people all over the world.
1 Robertson, H. (2021, February 16). Bitcoin breaks $50,000 for the first time as RECORD-SHATTERING 2021 RALLY extends to 74% amid Wall STREET adoption. Retrieved from https://markets.businessinsider.com/currencies/news/bitcoin-price-record-high-btc-wall-street-ethereum-institutional-investors-2021-2-1030085735
2 Huang, R. (2021, January 13). What Publicly Traded Companies Have Bitcoin On Their Balance Sheet – And Why. Retrieved from https://bit.ly/3pBjXNm
3 Press releases. (2021, February 16). Retrieved from https://www.thenewswire.com/press-releases/1LPRFz3pe-cloud-nine-signs-loi-to-acquire-cryptocurrency-blockchain-assets.html
4 Cloud Nine Signs LOI to Acquire Cryptocurrency & Blockchain Assets. (February 16). Retrieved from https://webfiles.thecse.com/20210216_NR_LOI_Acquisition_of_IP_Assets_Final.pdf?a7yYKnmNpvxLym3WTbKhePDZhK2phf5D
5 Cloud Nine Education Group LTD (CNI-CN) quote – Press Release. (2021, February 16). Retrieved from https://www.theglobeandmail.com/investing/markets/stocks/CNI-CN/pressreleases/1143818/
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