Blockchain penny stocks are up and down today to close out the first week of September.
The cryptocurrency market is rebounding today after a brutal week, which might be causing some of the spikes in blockchain penny stocks. Penny stocks are a hot item among investors because of their risk/reward.
Getting in early on a penny stock that eventually takes off is every investor’s goal. With blockchain continuing its progression into society, there’s bound to be a blockchain stock that comes out on top.
Let’s take a closer look at two blockchain penny stocks today and their latest movements.
Millennium Blockchain, Inc. (OTC:MBLC)
Despite having positive news two days ago, Millennium Blockchain has taken a hit on the market today. On the 5th, the blockchain company announced it had closed its $3 million investment in Robot Cache.
Robot Cache is a decentralized PC video game distribution platform that benefits gamers, developers, and publishers. It looks to disrupt the $27 billion gaming industry.
According to Yahoo Finance, MBLC is currently trading at $0.161 a share, down -$0.039 (-19.46%).
Block One Capital Inc. (OTC:BKPPF)
Based out of Vancouver, Canada, Block One Capital is a venture capital and private equity firm that is geared towards investing in blockchain companies. The company made their blockchain switch back in 2017, becoming yet another blockchain penny stock.
Yesterday, Block One released a statement on the update on the Bitcoin mining sector. “I am grateful to have had the guidance of a strong research team in our decision-making process over the last couple of months,” said Sothi Thillairajah, CEO of Block One Capital. “The conclusions of the study support our early decision to exit the Bitcoin mining business.”
It seems Block One will be exiting the Bitcoin mining business and shift its focus elsewhere. This may be the reason the stock is trading in the green today.
>> Cannabis Penny Stocks: Let’s Look at Benchmark Botanics
According to Yahoo Finance, BKPPF is currently trading at $0.275 a share, up $0.00079 (0.29%). The stock has been on a bear trend the last month, and this latest news just might turn the stock trend around.
What do you think about these blockchain penny stocks?
Featured Image: Tzido
