U.S. Global Investors, Inc. (NASDAQ:GROW) CEO On Bitcoin

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Frank Holmes, the Chief Investment Officer and CEO of U.S. Global Investors, Inc. (NASDAQ:GROW), expressed that speaking of bitcoin, he is inspired and thrilled that the company was able to finalize a planned investment in HIVE Blockchain Technologies this preceding quarter. HIVE marks as a blockchain infrastructure firm engaged in the mining of virgin digital currencies. It has a remarkable presence in Iceland, whose cheap, green energy and cold climate are well suited for mining cryptocurrencies.

The details

Holmes added that several startups now are selecting to raise funds via initial coin offerings, with the count of digital coins worldwide coming at over 2,000. Millennials have largely led demand in cryptocurrencies, as their non-traditional attitudes about investing, banking and finance have changed the game. Bloomberg posted recently that web searches for “buy bitcoin” exceled “buy gold” for the first time this year.

After observing the ICO market grow in recent years, he became inclined in coming out with a cryptocurrency exchange traded fund, but due to anti-money laundering and regulatory cul-de-sacs issues, he comprehended that doing so would be remarkably expensive and challenging. They therefore performed the next best thing and put some of their own capital in a firm with first-mover benefit in the crypto-mining segment. HIVE is particularly attractive, as it’s associated with Genesis Mining, the world’s major cloud bitcoin mining firm.

It’s not only millennials who are exhibiting interest, though. Bitcoin as well as other cryptos are fast gaining favor among investors of all ages. Today, several leading brokerage firms, including USAA and Fidelity, permit clients to see their digital currencies holdings alongside more conventional asset classes. Abigail Johnson, the Chairman of Fidelity, has expressed that Blockchain technology isn’t only a more efficient means to settle securities, it will essentially change market structures, and possibly even the internet architecture itself.

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