Executives from CleanSpark, Riot Blockchain, NexTech AR Solutions, MicroStrategy, and Grayscale Investments Share Their Bitcoin Insights

New York, Jan. 04, 2021 (GLOBE NEWSWIRE) — Tech Capital, the trusted source for technology news and analysis, is highlighting recent comments on the rapidly evolving Bitcoin landscape from executives at CleanSpark, Riot Blockchain, NexTech AR Solutions, MicroStrategy, and Grayscale Investments, as the cryptocurrency sets yet another new high.

Bitcoin hit $34,000 on Sunday, having advanced 75% over the month and 360% in the last year.

Two of the hedge fund world’s most successful investors – Stanley Druckenmiller and Paul Tudor Jones – have led fund buying.

Demand is also being driven by corporations pursuing alternative asset allocation strategies, diversification by major institutional holders, the emergence of dedicated funds, and interest generated by retail platforms such as Square and PayPal.

CleanSpark Inc (NASDAQ:CLSK) chairman and CEO see a “substantial opportunity”

CleanSpark Chairman Matthew Schultz and Chief Executive Officer Zachary Bradford say the company is aiming to become the lowest energy cost Bitcoin miner in America following the acquisition of ATL Data Centers.

In the company’s annual shareholder statement, the pair said: “By leveraging our proprietary technologies, the company expects to increase Bitcoin production while lowering total energy costs, thereby maximizing overall profitability.

“The anticipation of producing Bitcoins at what we believe will be potentially the lowest total energy cost in America is expected to be a substantial opportunity to market our proprietary energy solutions to other energy intensive operations throughout the world.”

They added… “Management believes that recent moves by companies such as Square, PayPal, MicroStrategy and others have furthered the validation of Bitcoin, and expects that energy efficiency will soon become a priority. The addition of new miners, paired with the recent market performance of Bitcoin prompted the company to raise our revenue guidance to $30 million for fiscal 2021, 300% of what we successfully delivered in 2020.”

Riot Blockchain Inc (NASDAQ:RIOT) CEO Jeff McGonegal says mining hardware is becoming “increasingly scarce”

Riot Blockchain recently said it expected to increase Bitcoin mining capacity by 65% following $35 million of investment in new equipment.

“Continued growth in deployed miners is paramount to a miner’s success,” said McGonegal. “Expanding the company’s bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the Bitcoin spot price has appreciably increased. We are pleased to have secured this latest purchase, especially given that the available supply of mining hardware continues to become increasingly scarce.”

NexTech AR Solutions (OTCQB:NEXCF, CSE:NTAR, FSE:N29) CEO Evan Gappelberg says Bitcoin has the potential to rival gold

The provider of virtual and augmented reality experience technologies and services for e-commerce, education, conferences, and events has doubled its Bitcoin investment to $4 million and may add more in 2021.

“This follow-on investment reflects our strong belief that bitcoin is an excellent long-term store of value and an attractive investment asset with more long-term appreciation potential than holding cash which is currently yielding 0.06%. Bitcoin is a digital version of gold which has a total market capitalization of $10 trillion versus bitcoin’s total market capitalization of just $600 billion,” said Gappelberg.

He continued….“As more institutional capital allocators adapt to this new paradigm we expect that more public companies will elect to diversify their treasury into bitcoin which will push the value of bitcoin closer to the value of gold.”

Watch NexTech AR Solutions CEO Evan Gappelberg’s Livestream Now

MicroStrategy Inc (NASDAQ:MSTR) Chief Financial Officer Phong Le says Bitcoin offers the opportunity for better returns

Last month, business intelligence company MicroStrategy Inc announced that it had purchased an additional 29,646 Bitcoins for US$650mln in cash “in accordance with its treasury reserve policy”. This took its holding to 70,470 coins bought for a reported $1.125 billion. At current prices, the investment is worth almost $2.4 billion.

Phong Le said: “The company continues to believe Bitcoin will provide the opportunity for better returns and preserve the value of our capital over time compared to holding cash. 

“We also remain dedicated to our customers and our goal of operating a growing profitable business intelligence company.”

Grayscale Investments Managing Director Michael Sonnenshein says Bitcoin market needs to “mature and grow”

Grayscale Investments, which manages the Grayscale Bitcoin Investment Trust (OTCMKTS:GBTC), recently lowered the management fee on its other investment vehicle, the Grayscale Digital Large Cap Fund (OTCQX:GDLC), to 2.5%, from 3.0%.

“Grayscale has been the market leader for digital currency investment products since our inception, and we’re focused on bringing our clients products that provide access, transparency, and exposure, all supported by best-in-class service providers,” said Grayscale’s Sonnenshein. “It is extremely important to us that as our industry continues to mature and grow, Grayscale continues to lead in client service and offerings.”


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