New York, NY -- (SBWIRE) -- 12/20/2017 -- OTI Global, a leader in processing cashless payment solutions, will soon process payments in Bitcoin. As a visionary innovator in cashless payment technologies and solutions, OTI's move into cryptocurrencies should not come as a surprise to those following the company.
OTI stock more than doubled following the announcement made pre-market on December 18. While most experts acknowledge that cash is becoming a thing of the past, national currencies may also start to phase out as blockchain-based cryptocurrencies become widely acceptable. OTI can play a key role in enabling physical retailer locations around the world to accept Bitcoin.
OTI's Bitcoin strategy was articulated by OTI CEO Shlomi Cohen in the company's press release, "At OTI we are working hard and intend to rapidly become Bitcoin acceptable in transactions via NFC, Bluetooth or QR code. We also look forward to integrating Bitcoin acceptance in our innovative ATM and secure cashless vending products."
OTI already has its payment processing technologies integrated at retail locations across the world, from ATMs, to vending machines, to fast food chains, to gas stations. OTI accepting Bitcoin will mean each of its retail customers will be able to receive payment in Bitcoin. I believe OTI's ability to Bitcoin enable retailers is a huge competitive advantage for the company and will lead to many new, larger and more lucrative contracts for OTI. It can also propel Bitcoin higher by expanding the number of retailers that accept the blockchain-based cryptocurrency.
Bitcoin itself has gone from $1,000 on January 1, 2017 to nearly $19,000 on December 18, 2017.
One of the first retailers to accept Bitcoin, Overstock.com (OSTK), has seen its stock mirror Bitcoin's trajectory.
Overstock CEO Patrick Byrne, a thought leader in the cryptocurrency asset class just stated, ""Blockchain is going to change the world more, I think, than the internet has." He states his case for why currencies like Bitcoin are a "form of sound money".
Bottom line: As a leader in cashless and contactless (NFC) payment solutions, OTI is ideally positioned to bring Bitcoin usage to the physical retail market. While a growing number of online retailers and merchants accept Bitcoin, it's still rare that a retail location can process a Bitcoin payment in person. OTI has the technology and infrastructure to become the world's leader in Bitcoin payment processing for physical retailers.
RAY DIRKS Research suggests that Readers/Investors place no more than 1% of the funds they devote to common stocks in any one issue. It's best to diversify.
About Ray Dirks
Ray Dirks came to Wall Street with Goldman, Sachs & Co. in 1963 where he was established as the leading insurance stock analyst dealing with institutional investors and high -net worth investors both in the U.S. and internationally. In 1973 Ray uncovered the biggest Ponzi scheme of the 20th century, the Equity Funding fraud. Over the years Ray has expanded his stock market research to include Healthcare Stocks and Special Situations. Ray has written two books, "The Great Wall Street Scandal" and "Heads You Win, Tails You Win", published by McGraw-Hill and Bantam Books respectively. He continues to provide research to institutions and individuals, and he manages money for some individual investors.
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