And now…for something completely different 🙂
The world of blockchain and cryptocurrencies has caught my attention. I recently had two posts on this topic discussing my experience so far. As I mentioned earlier this week, I bought a small amount of cryptocurrencies (ETH and LTC) in order to get my feet wet. Since this is an emerging tech, its really hard to figure out who the winners and losers will be. Add the fact that companies are now built on an open source platform and in a completely decentralized way, that makes it harder to pick. To add to the complications, most companies in the space have resorted to having direct token sales and ICOs instead of going to the capital markets…this makes it even harder to get access to good equity unless you are willing to risk a lot more than usual. I have read some of the pitches from some companies raising funds via token and ICO sales — and they were complete nonsense. I wouldn’t touch such companies with a 10-ft pole.
Back to the point of this recent purchase. I initiated a position in a blockchain company. There are plenty to invest in if you go the token/ERC20/ICO route, but the number of companies available in the “traditional” capital markets are very limited.
Last week, I purchased 1,000 shares in Hive Blockchain Technologies Inc (HIVE.V) at CAD$1.08.
What does Hive Blockchain Technologies all about? Digital mining! It is almost fitting that I have investing so much of my capital in precious metal and base metal miners over the last year…why not digital miners? 🙂