Is this okay? The share price of a Canadian listed company called Bluesky Digital Assets soared as much as 1,500% this week, but company executives did not know the cause of the surge. Some experts analyzed that this may be due to investors’ confusion about its name, because the stock code is BTC, which is the same as the abbreviation of Bitcoin. (Preliminary summary: Matrixport: Bitcoin will remain strong in December, and 3 major U.S. events may become market catalysts) (Background supplement: Taiwan Bitcoin Frenzy: The number of currency depository registrations and active transactions hit new highs, and the APP finance ranking surged 2) The stock price of the Canadian technology company "Bluesky Digital Assets" suddenly skyrocketed this week. It rose by more than 164% in a single day on the 14th, reaching a maximum of $0.88. If calculated based on the closing price of $0.055 on the 11th, the day before the rise began, it is equal to 3 There was an astonishing increase of 1,500% in one day, but the strange thing is...the company's executives did not know the reason behind the skyrocketing stock price. At the request of the Canadian Investment Regulatory Organization (CIRO), the company issued a press release on Thursday to clarify that Bluesky Digital Assets management was not aware of significant operational changes at the company that would increase the share price. According to the press release, the company operates an online platform that provides support for enterprises to adopt and utilize emerging technologies such as blockchain, AI and Web3 services... As a result, the company's stock price revised sharply downward by 47.14% on Friday, closing at 0.37 Canadian dollars. Source: TradingView Got it? Nick Mersch, a portfolio manager at Purpose Investments, which trades under the symbol “BTC,” told BNN Bloomberg on Friday that the stock’s surge may have been caused by investor confusion about the name. And noted: The company said there were no major changes affecting its stock, suggesting the rise was not tied to any fundamental developments. Coincidentally, the trading code of Bluesky Digital Assets stock is "BTC", which is the same as the abbreviation of Bitcoin, which recently hit a record high of $93,000 this week due to Trump's election. However, it is still not confirmed that this is the stock's surge. the real reason. It also collides with the decentralized social media Bluesky. Another possibility is that the company and the decentralized social network platform Bluesky, which was co-founded by Twitter founder Jack Dorsey in 2019, collided with the name. At present, BlueSky has received widespread attention from the community. After Trump was elected, many X users were suspected of being dissatisfied with Musk's crazy use of X to support Trump, and they are turning to BlueSky in large numbers. Bluesky has about 15 million users, with more than 1.25 million new users since the Nov. 5 U.S. election, according to Bloomberg. In September, the platform had about 10 million users. A week after the US election, it topped the list of free apps in Apple's App Store. Mersch pointed out: "Given the growing interest in BlueSky as an alternative to centralized social platforms, investors may confuse the two, thereby pushing up the share price of Bluesky Digital Assets." Related reports and views) If the United States becomes Bitcoin mining , AI center, UHV transformers will become Trump’s new concept stock Michael Saylor: Bitcoin is the destiny of the United States! Optimistic about Congress passing the bill to buy 1 million BTC in 5 years, Bauer said "there is no rush to cut interest rates" Bitcoin dropped $86,600, US stocks collapsed, October PPI shows inflation is still sticky Nutshell article) Bitcoin fixed investment experiment: 500 The non-stop public results are outrageous! The stock code of this technology company "BTC" soared by 1500% in three days! Senior management: We are also dumbfounded. This article was first published in BlockTempo (Dong District Dongzhu - the most influential blockchain news media).

#BTC