• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
cannabis
Advertisement

HK Investment Firm Pivots to Cannabis After 2018 Bitcoin Bear Market

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in News, Bitcoin Investment, Companies, Markets and Prices, News teaser
0
Advertisement

A Hong Kong-based blockchain investment firm is planning to take up a position in the cannabis market as a way of diversifying its Bitcoin investment portfolio.


Diversifying with Cannabis

According to the South China Morning Post (SCMP), the Hong Kong-listed Grandshores Technology plans to take up investment positions in cannabis stocks. This move comes as part of the company’s efforts to diversify its investment holdings which previously focused on the cryptocurrency and blockchain market.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

On Monday (April 29, 2019), the company filed with the Hong Kong Stock Exchange (HKEX) a cooperation agreement with the Heilongjiang hemp research institute. The agreement sees both companies developing multiple varieties of medicinal hemp strains.

Explaining the importance of the partnership, Yao Yongjie, the co-chairman of Grandshores Technology, said:

Through our partnership with Heilongjiang hemp research institute, we have gained an advantage in accessing high-quality cannabis seeds, with high levels of CBD. We want to be a key supplier of industrial and medicinal cannabis and control that supply from the source.

Another HKEX filing shows Grandshores is also looking to acquire a 40 percent equity stake in Hangzhou Yupu Trading – a hemp trading company. Hangzhou Yupu Trading has a one-year, 1,600kg allocation for a specialized hemp plant from the Heilongjiang hemp research institute.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

According to Yao, the company is serious about its foray into cannabis. Yao says by 2020, the company will decide on whether to focus most of its resources on the hemp industry rather than cryptocurrency investment positions.

cannabis Bitcoin Mom

The Intersection of Bitcoin, Blockchain, and Cannabis

Yao believes that 2020 will mark a watershed year for cannabis investment as the emerging asset class begins to mature. Bitcoin held off an 80 percent drop in 2018 and has continued to experience steady gains so far in 2019.

Commenting on the prospects of both markets, the Grandshores Technology chief opined:

Both blockchain and industrial cannabis are the future, and both are embraced by the younger generation. Grandshores Technology is a company that invests in the future and we are always on the search for new business growth opportunities.

However, like the crypto market, the cannabis scene is still grappling with a patchwork of loose regulations and government apathy. Several projects have come up in the last few years trying to revolutionize the industry with limited success thus far.

As previously reported by Bitcoinist, Paragon – a cannabis startup lost 96 percent of its post-ICO market capitalization.

Do you think cannabis is a suitable diversifier for firms with cryptocurrency investment portfolios? Let us know your thoughts in the comments below.


Images via Bitcoinist archives, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

2 weeks ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

3 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

3 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

3 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Binance Coin (BNB) Trading Volume Pumps By $7 Million While...

    3 hours ago
  • Polkadot (DOT) sees 5% Growth, why Cardano (ADA) and...

    4 hours ago
  • More than a trillion dollars moved in Litecoin (LTC)...

    4 hours ago
  • Moralis has revealed the integration of Web3 API with Aptos...

    5 hours ago
  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.