Victory Square continues to be a victory for your portfolio
Back in late October, we wrote a brief and issued an “ALERT” on Victory Square Technologies (CSE: VST) when the stock price was ~$1. During November, daily trading volumes averaged fewer than 100,000. However, since then, the stock has rallied and daily trading averages for the month of December has more than tripled. In less than 2 months, the stock jumped nearly 3 times to $3.50 per share.
Investors have been excited by several things (and we agree):
- Recent admission as a member of the Blockchain Investors Consortium (“BIC”)
- Private placement by a high-caliber, strategic investor
- New Board member announcement
- Overall performance of cryptocurrencies
- Major news flow
The Blockchain Investors Consortium (“BIC”) is one of the market-leading organizations pioneering professional investment activities into digital assets globally.
With over $2 billion of digital assets under management amongst its 100 crypto hedge funds and individual investors, BIC has a serious advantage when it comes to identifying co-investment opportunities in the most promising and disruptive crypto/blockchain companies. Members of BIC have made notable investments such as Ethereum’s initial crowdsale, Coinbase, Bancor, EOS, Tether and have several early BTC investors.
Last week, Victory Square announced it has obtained admission as a member of the BIC.
The company’s inclusion in this elite investment group will grant access to promising early-stage ventures, while also allowing Victory Square to leverage the experience of a network of seasoned and successful cryptocurrency investors.
This will further strengthen Victory Square’s position as a pioneer in investment in Blockchain enterprises both in Canada and abroad.
Following this press release, shares jumped 19% within 2 days.
Addition of a High Profile Investor
Mehdi Khimji, a multi-millionaire, co-founded Highgate, a hotel management company with over 100 hotels under management. He has also made several successful venture capital investments in the technology and gaming sectors. With 30 years’ experience in hospitality, gaming and venture capital, he was an ideal strategic investor for Victory Square.
Upon announcement that Mr.Khimji invested in the company through a $5 million private placement, shares jumped more than 17% within 2 trading days.
Moving forward, this may lead to even more high profile investors investing in Victory Square.
New Board member announcement
Victory Square announced that one of the co-founders, Guy Halford-Thompson, of BTL group (Canada’s first public Blockchain company) was joining the team as an advisor to accelerate their Blockchain portfolio.
Outstanding Performance for Cryptocurrencies
In the last month, cryptocurrencies across the spectrum have increased at remarkable rates.
- Bitcoin: $5,800 to $16,500 (+180%)
- Ethereum: $300 to $700 (+133%)
- Ripple: $0.20 to $0.47 (+135%)
With so much hype and excitement surrounding cryptocurrencies, it is just a matter of time before legacy companies begin to enter the scene. According to Forbes, we’ll soon see an increase in crypto payment acceptance from larger companies. Overstock, a company doing nearly $2 billion USD a year in revenue, took a leap and did it. Many are rumoring and hoping that Amazon and eBay will soon enough as well.
Most of these companies will be happy to accept cryptocurrencies if they are able to immediately liquidate to fiat currencies, which with higher volume in the market will allow for that.
NetworkNewsWire Article out over the weekend on VST and some other major players in the Blockchain space, helped drive the share price up another ~20% today alone.
Their business model is solid and some of those early investments are starting to really pay off. With more news coming out this stock is going to continue to be a victory in your portfolio.
Fortune Favours the Bold