- Industry leader projects cryptocurrency bitcoin, which has achieved $4,000 price, can reach $100,000 within five years
- Company provides processing solution for “unbankable” risk markets, such as legalized cannabis
- SinglePoint releases new investor relations kit that details its acquisition strategy, profiles key executives (http://nnw.fm/ofm0Y)
SinglePoint, Inc. (OTC: SING) finds itself at the intersection of two fast-growth markets: the cryptocurrency bitcoin and legalized cannabis. Bitcoin prices recently surged past $4,000 and are projected by industry leader Wu Jihan, founder of bitcoin miner Bitmain, to possibly reach $100,000 within five years, according to a video by Bloomberg L.P. (http://nnw.fm/INe2R). At the same time, research from Cowen & Company estimates that legalized cannabis sales could reach $50 billion by 2026, according to a Bloomberg L.P. Markets report (http://nnw.fm/2HOt5).
SinglePoint is a high-technology company offering payment processing solutions in high risk markets, such as the legal cannabis industry. That market operates independently of conventional banks. In a joint venture with First Bitcoin Capital, Inc. (OTC: BITCF), SinglePoint uses its own proprietary technology to process transactions in bitcoins for the “unbankable” cannabis market. The company has also made acquisitions within the cannabis industry, including SingleSeed, Convectium and Discount Indoor Garden Supply (DIGS).
Cannnabis dispensaries are seeking a solution for customer transactions which are federally limited in their payment options, requiring payments independent of traditional banks and the FDIC. Bitcoin represents a payment option to dispensaries which are concerned about doing business in a cash-only environment. SinglePoint gives those dispensaries a bitcoin solution (http://nnw.fm/cryZ0). Further, SinglePoint’s acquisitions in the cannabis industry also reinforce its involvement within that fast growing business.
SinglePoint recently released a 16-page investor relations kit, which profiles key executives in the company, as well as detailing the firm’s marketing strategy, acquisitions and diversification into horizontal markets.
For more information, visit the company’s website at www.SinglePoint.com
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
