The cryptocurrency market may have just received its biggest endorsement to date.
BUFFETT BACKS BITCOIN
Disclosed in a securities filing earlier this week, BRK's position in the popular fintech bank and subsequent divestiture of its
MINERS BENEFIT FROM BILLIONAIRE BUZZ
Because of the decentralized nature of cryptocurrencies, transactions are conducted and recorded via so-called miners. These miners compete for each transaction and are paid a commission of sorts for each transaction executed. This commission is paid, of course, in the cryptocurrency mined, which means the higher the value of that coin, the greater the revenue of the mining company. As more and more transactions are conducted with a given coin, the value of that coin stands a good chance of increasing in value.
The shot in the arm a Buffett stamp of approval gives the crypto industry could mean a huge increase in both the number of transactions being conducted via crypto (as more businesses begin to accept a given coin as currency) and the overall value of each coin. More transactions and higher coin values mean GYST has a shot at increased traffic and revenues in its mining operations.
It's simple:
Increased legitimacy = more transactions
More transactions = more coins mined
Higher value per coin mined = higher revenues and stronger assets for mining company
Mining companies for your radar include,
GYST IN YOUR PORTFOLIO
On the heels of an impressive 2021 which brought record revenues, The
Graystone could find itself in a strong position as more transactions take place on the blockchain. Now, as they build on the success of 2021 in 2022 by cutting energy costs to drive up their margins, Because crypto transactions are so competitive and demand essentially sets the price, cost saving measures are paramount, especially for the smaller mining firms. For their part, GYST works to cut costs and be good stewards of the environment by slashing as much energy usage as possible. This is done through the purchase of some of the most efficient mining machines available.
GYST's current price of
Capital Gains Report's GYST Feature: https://capitalgainsreport.com/gyst-btc-miner-everyone-will-be-talking-about/
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