Blockchain penny stocks were the hot ticket back in 2017. Investors were buying in on any stock that associated itself with blockchain, and some companies went as far as adding blockchain to their name.
These stocks were rising nearly 100% a day during the blockchain craze, many of which were blockchain penny stocks. Now, the blockchain frenzy has subsided, and cannabis has taken over.
Many of the blockchain stocks that saw monumental stock gains in 2017 have fallen, but there are still some that are trucking right along.
Let’s take a closer look at a blockchain stock that is still making moves in 2018.
BTL Group Ltd. (TSXV:BTL)
BTL Group is a blockchain penny stock based out of Calgary, AB, and provides an enterprise technology platform for businesses across various industries. The company’s enterprise technology is named Interbit, and it is designed for businesses to incorporate blockchain capabilities into their own enterprise applications.
Today, the blockchain penny stock announced that it has filed its sixth patent application for its Interbit platform. Interbit is a third generation blockchain platform that is intended to become a mega-chain platform that would support millions of blockchains.
“While our patent strategy has remained unchanged, the vision for the mechanics and functionality of our Interbit™ platform has expanded to millions of blockchains being supported, along with targeted applications and blockchain solutions,” said Tom Thompson, CTO of the blockchain penny stock and inventor of the Interbit™ platform.
BTL Group started developing Interbit after its insights and learnings from different projects undertaken in Europe with major financial services and energy companies.
Thompson continued, “Since the Interbit™ platform’s release in April for feedback and testing, we have been presented with demand scenarios that require scaling up to millions of blockchains and accordingly we are taking steps to upgrade the platform’s capabilities to attempt to meet those challenges.”
BTL Group Stock Movement
According to Yahoo Finance, BTL shares are trading at $2.87, up $0.07 (+2.50%).
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