As the second quarter gets into full swing, Bitcoin enthusiasts can take comfort in the fact that BTC/USD is pricing basically dead flat for 2022 despite a Q1 flight from risk assets and a ton of talk about reduced dollar liquidity in the world as the Fed steps up its tightening trajectory.
Hodlers may be looking to inflationary pressures, reduced faith in fiat currency systems, and increasing concerns about the US Dollar as global reserve currency following the enactment of sanctions against Russia following its barbaric invasion of Ukraine in February.
But whatever narrative you choose to focus on, Bitcoin has weathered a storm and now sits poised just under the key $50,000 level. It is also trading back above its 200-day simple moving average in the futures market.
A move back above that level could spur a fresh momentum trade that stands to benefit stocks tied to the space such as Hut 8 Mining Corp. (Nasdaq:HUT), Canaan Inc. ADR (Nasdaq:CAN), Marathon Digital Holdings Inc. (Nasdaq:MARA), Bit Digital Inc. (Nasdaq:BTBT), Bakkt Holdings Inc. (NYSE:BKKT), and Bitfarms Ltd. (Nasdaq:BITF).
However, one stock that could stand to benefit disproportionately from renewed enthusiasm in Bitcoin mining is Marketing Worldwide Corp. (OTC US:MWWC), which just launched a fully functioning “community-based” crypto mining platform called Minosis (see www.minosis.io).
As MWWC CEO Jason Schlenk noted last October, “Our goal is to make the installation and rig set-up as easy as possible and we believe we have accomplished that with the use of the Minosis Agent; in doing so, this will hopefully remove the complicated perceptions of using your laptop or desktop computer to mine crypto-currency.”
Marketing Worldwide Corp. (OTC US:MWWC) closed last week with an update on the project, announcing that it is currently developing its new Auction Crypt website that will offer Crypto-Mining equipment to the public as part of the Minosis.io Suite of innovative crypto platforms, products, and services.
MWWC management notes that the company is currently developing its http://auctioncrypt.com website, where ASIC Miners and other Crypto-Mining Equipment will be auctioned off to the general public.
This could be particularly significant during a period where crypto mining equipment has become more and more difficult to find through normal channels, especially if we see a resurgence in the growth of interest in mining as a new upward trend in the space takes shape.
According to the company, the Auction Crypt website will be an extension of the #Minosis family; and will utilize the $MNS ‘Minosis’ token and the partnered $DOX ‘#DoxedToken’ as the currency used to bid on auctioned items; which will add value to the $MNS and $DOX token utilities. This is a significant opportunity to become a destination site for both refurbished and new equipment that compels web traffic to the https://minosis.io website and to the www.doxedtoken.com website. The increase in traffic could result in daily volume multipliers for both tokens, ultimately triggering the burn and stock buy-back initiatives.
Marketing Worldwide Corp. (OTC US:MWWC) bills itself as a unique-to-market pioneer in the crypto mining and cyber security sector that has recently formed strategic partnerships in the rapidly emerging field of crypto forensics. MWWC shares are sitting near key technical support in the $0.0028 area where we have seen strong support hold on several occasions over the past 6 months. The stock has gained about 400% over the past year, but has consolidated those gains in a sideways range for the past two quarters.