[ad_1]
Riot Blockchain (NASDAQ:RIOT) The news on Wednesday includes the rise in the price of bitcoin which moves RIOT stock.
Source: Shutterstock
Riot Blockchain is a company that focuses on cryptocurrency mining, such as bitcoin. Lately, bitcoin has been on the run a bit as it crossed the $ 18,000 mark. This is approaching previously unattained levels since late 2017.
This is good news for Riot Blockchain not just because bitcoin is on the rise. As the price of bitcoin rises, other cryptocurrencies are also getting a boost. All of this benefits the company as cryptocurrencies are being taken more seriously this time around.
While investors may be worried about another crash, like the one that happened after the bitcoin price explosion in 2017, this time it may not happen. This is due to the fact that there is more support for cryptocurrencies than there was then, he reports CNN.
Riot Blockchain has also recently been in the news for changes to its Board of Directors. He announced yesterday that Hubert Marleau has joined the board of directors following the departure of Remo Mancini.
Marleau joining the Riot Blockchain Board of Directors is noteworthy because of its history. He is a capital markets veteran who has served on more than 50 boards of publicly traded companies in his life. The 76-year-old brings with him more than 50 years of capital markets experience, which is a big boost to investor confidence in RIOT stock.
The RIOT title was in a wild ride today. The stock started on Wednesday before dipping below yesterday’s close. As of late morning, it’s down 3.1%.
At the date of publication, William White had (neither directly nor indirectly) any position in the titles mentioned in this article.
