Industrial Income of ASX blockchain & bitcoin company
There is no doubt that financial zeitgesit revolving around blockchain technology and digital currencies, and one company, based in Perth, is registered on the local stock market, wants to make money on crypto-mania.
Digitalx Ltd (ASX: DCC) shares have gone from around 4 cents this time last year to 21 cents today and even have been sold around 40 cents at the start of 2018.
Digitalx possess and actively trades digital currencies like Bitcoin, Ethereum, Coin Poker and Etherparty, since some of its estimates are associated with the growth and decline in the estimates of these currencies.
Most of its cash inflows are the result of fees earned for initial coin offering (ICO) advisory work alongside blockchain consulting.
Factually, for the quarter ending of March 31, 2018 the group was raked away at $ 1.7 million, with some surprisingly low operating costs helping it post an operational cash income of $ US 894,000
Approaching the nine months ending on March 31, 2018, the group reported operating income of $ 1.34 million partly due to some low operating costs.
The diluted shares of the company is 550 million, which means investors are giving it a market value around $A115 million at 21 cents a share today.
In addition to the work of ICO, the group can boast of the fact that it also builds business consulting blockchain, where, for example, it advises the company on how blockchain technology can improve its business.
Digitalx has also setup an online business for managing currency funds, which invests in TOP-10 crypto currency based on weighted market capitalization to simulate index funds of shares in the cryptographic world. All this sounds exciting on paper, but this is a company for crypto evangelists only.
On the local market another companies that might be a better bet due to their potential to leverage blockchain technology include – ASX Ltd (ASX: ASX) and Webjet Limited (ASX: WEB).
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