Michael A. Robinson- Money Morning - Only the News You Can Profit From.
Michael'S LATEST HEADLINES
Technology Article 0 Monday, January 22, 2018You Can Profit on Blockchain Even During Bitcoin's Wild Ride; Here's How
On Jan. 9, the storied but beleaguered photography firm Eastman Kodak let slip word that it's integrating blockchain technology into its operations.
Kodak said it wants to use a blockchain distributed ledger to help photographers license their work – and get paid – when people use those images.
You know what happened next…
Kodak's shares soared higher by 119% that day – and then another 57% the next day.
Then the talking heads on CNBC and FOX Business – and in mainstream publications everywhere – tut-tutted both Kodak and the investors who bought into its scheme.
They've got a point. Chasing after desperate companies putting blockchain into their business or names is a bit foolish. After all, plenty of investors who hit the greed pedal following Kodak's blockchain announcement got creamed on profit-taking.
Here's the thing. Those mainstream analysts missed the larger meaning behind this story.
Investors are right now feeling a great need to invest in blockchain before they miss their opportunity. And they're chasing it everywhere they see it, even if it means making a play on a long-struggling company like Kodak.
Blockchain, of course, is the backend technology that makes cryptocurrencies like Bitcoin possible. And it's blockchain's promise that's behind Bitcoin and other digital coins' recent wild ride.
So I get it. I want to be invested in blockchain – and I think you folks should be, too. But plays like Kodak are extremely risky trades, not long-term profitable investments.
So today I want to tell you about a stock that is a great backend play on blockchain technology.
It's is a highly respected tech leader that offers stable returns – but that will crush the market over the next three years thanks to its moves into blockchain and other bleeding-edge technologies.Let's take a look...
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