Yesterday Bitcoin thumped its chest, had a nap, woke up, felt sad, became incontinent and then got an erection.
It was a day of many moods.
At one point, Bitcoin gained $1,000 in an hour.
Financial pundits admitted that “the direct cause of the sudden surge is a mystery” although there was speculation that cryptocurrency short trades were being unwound and “momentum digital currency traders” drove the price of Bitcoin up.
According to Coindesk, Bitcoin reached a two-week high of $8,035 at 6:35 a.m. Then it fell back down. Then it rose even higher. As the time of this writing, it’s $8,164.
Ethereum also rose more than 7% to $462.13, Bitcoin Cash was at 710, up 7%. Ripple was up 6.5%.
Calyx Ventures (CYX.V) had an even better day.
The stock surged 26% to .12 on 970,000 shares traded.
Calyx is less gimmicky and more substantial than most blockchain companies.
The company is in the trenches, operating a software development business for innovative enterprises and start-ups.
Calyx also owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
On February 26, 2018 Calyx provided an update on the development status of its Canadian Cannabis Exchange Platform.
Calyx is on schedule and on budget in building out its commercial platform which when completed will facilitate mass commercial cannabis and derivative transactions in an orderly market-based fashion.
“As the cannabis landscape matures, the necessity for an independent fluid marketplace is becoming increasingly more apparent,” explained CEO Roger Forde, “To this end we are building an infrastructure to allow for current and future Licensed Producers to get their product to both foreign and domestic markets quickly, efficiently and affordably.”
CYX’s software is modelled on tech currently being used in the Canadian agricultural marketplace. The system will use a distributed ledger to control and track contracts and transactions.
Calyx has other irons in the fire.
As Chris Parry reported, Calyx “acquired and successfully completed the installation and setup of its first cryptocurrency-mining and blockchain-data-validation operation in Kamloops, B.C.
This is the second phase of the company’s objective to integrate a general cryptocurrency-mining facility and distributed-computing platform into the company’s existing blockchain business model.
This additional computing and hash power will allow Canada Blockchain to immediately generate additional revenues and significantly enhance the company’s ability to support the expansion of its private blockchain ecosystem.”
“Blockchain technology is naturally suited to marketplace applications,” stated Ford, “This particular market has a need for transaction verification and transparency, so we feel that building the platform around a blockchain ledger will give it traction with both market participants and regulatory authorities.”
When you take a company public, you have two jobs: 1. run the company, and 2. communicate with the markets.
In our opinion, Calyx is doing the first job better than the second.
Did you notice the generic image above?
That’s all we could find – because the company has no Power Point Presentation.
That’s a shame.
The company and the technology deserve more.
Yesterday Bitcoin had a shit fit.
Calyx kept its cool and moved steadily higher.
Full Disclosure: Calyx is an Equity Guru marketing client and we own stock.