First Bitcoin Capital Corp Acquires Control of World’s First Crypto ETF Named AlphaBIT (COIN:ABC)
VANCOUVER, BC / ACCESSWIRE / July 10, 2017 / First Bitcoin Capital Corp (OTC PINK: BITCF) today invested its primary wallet (1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS) owning dozens of cryptocurrencies into AlphaBIT in exchange for controlling interest, e.g. 200,000,000 ABCs. AlphaBIT is a closed-end crypto-exchange traded fund (CETF).
This is BITCF’s first venture into the Ethereum ecosystem, as ABC runs on the Ethereum blockchain.
Management considers this acquisition significant for many reasons, including providing a vehicle for shareholders to transparently monitor some of the Company’s assets. For example, at www.alphabitcoinfund.com, each wallet address of each asset owned that has been included in coinmarketcap.com can be seen, along with its value and the total current illiquid values of all assets owned in this manner. Also found on this site is the current Net Asset Value (NAV) of each share of the 200,000,000 ABC that BITCF owns in ABC, as well as the market value of each crypto-share of AlphaBIT.
In order to capitalize on the pent-up demand for ETFs in this space, the Company has made this acquisition, the first of its kind ETF and the only vehicle that provides such an opportunity to speculators.
With a total of 210,000,000 ABC current and ever to be in outstanding, AlphaBIT utilizes the newest ERC20 Standard Token Ethereum protocols, which is the same as some of the world’s most popular cryptocurrencies – as a smart contract – which was generated by a Decentralized Autonomous Organization (DAO).
This hybrid fund is in the process of utilizing proprietary AI robots to buy and sell many cryptocurrencies as a small part of its business model, which it hopes to increase as proven successful and greater funding allows.
The Company intends to register AlphaBIT with the SEC and subsequently cause its shares to trade on a non-crypto, more traditional stock market, such as NASDAQ, NYSE, or the London Stock Exchange.
About the Company
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 cryptocurrencies and blockchain technologies. At this time, the Company owns and operates more than the following digital assets under development:
- www.CoinQX.com – cryptocurrency exchange, registered with FINCEN.
- www.altcoinmarketcap.com – market capitalization for all cryptocurrencies with up and down voting by altcoin communities.
- www.Alphabitcoinfund.com world’s first crypto ETF.
- www.strain.ID – cannabis strains genetic information depository on decentralized Blockchain.
- www.iCoiNEWS.com – real time cryptocurrency and bitcoin news site.
- www.BITminer.cc – providing mining pool management services.
- www.2016coin.org – online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN – commemorative presidential election coins.
- www.bitcannpay.com – Open Loop merchant services for dispensaries.
- List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
- Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued: http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
- Third (managed) Omni wallet owned by COINQX: http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK
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.
SOURCE: First Bitcoin Capital Corp.