Dmg Blockchain Solutions DMGGF: Is Elon Musk thinking about investing?
The share price of Dmg Blockchain Solutions Inc DMGGF stock has reached an all-time recent low:
Is now the right time to invest in this super blockchain-crypto stock?
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At the time of writing, DMG is down 4.97% to 34 cents ($US) an all-time recent low.
The Dmg stock price is closely connected to the Bitcoin price
A you might be aware, the price is bitcoin is currently $36,103, down -36% over the past year when it saw highs of around $67,582 and averaged $56,000.
Cryptocurrencies are going through a downwards cycle at the moment.
Generally when the price of Bitcoin is up and going up, most of the main cryptos follow suit.
Dmg mines Bitcoin and holds the coins in its portfolio and this grows month on month.
Therefore when the price of Bitcoin rises, so too will Dmg.
Dmg can and does sell some of their mined Bitcoin when the price is high. In so doing, Dmg are able to generate cash income.
Looking at the 5 year Bitcoin chart, I can see that it’s highly likely Summer 2022 will see a massive rise for the price of Bitcoin.
Should this correction occur then we can expect to see significant gains for Dmg too.
Dmg are well positioned in the crypto infrastructure space and with their involvement in blockchain software developments.
Dmg are working on an exchange and wallets for blockchain cryptos and work with a number of different cryptocurrencies.
The Dmg’s blockchain ecosystem is in its infancy and investors should do well by getting in now while the share price is low.
Dmg also earn money by hosting services and transaction fees all crypto-blockchain related.
The 6 month chart Dmg stock chart doesn’t grab you with enthusiasm. But given we are in a crypto bear market this should change.
Dmg stock has seen highs of over $3 in early 2021, and to put things into perspective the stock price of Dmg is in the process of adjusting.
I can’t say how low the stock price of Dmg will fall to, but this sure looks lie a bottom to me. If not, then I think I would not expect Dmg to sink below 20 cents.
In any case, a long-term Dmg investor would consider loading up on these cheap shares and holding for the highs of the next crypto bull run, and into the blockchain future Dmg is building towards.
I think the likes of Elon Musk may have his mind set on investing in Dmg stock in the future. But this is just my guess.
Given that everything is heading blockchain and that includes EVs, Tesla will want to integrate to the blockchain in this crypto-connected new world order.
Dmg have the servers and the blockchain-tech to be the solution for many tech orientated companies.
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