So, a well-known company MX Gold Corp started selling all its assets back in 2017associated with mining. By January 2018, all assets were sold out and equipment for the production of cryptocurrency was purchased with these funds… The head of the company says that such a decision will bring much more results than dividends from stocks. The idea of mining cryptocurrency was picked up by the Hong Kong head of the company Madison Group Holding, for many years engaged in the distribution of alcoholic beverages.
Madison Group Holding
MGH purchases $ 60 million worth of mining hardware… This decision allowed the company to reach a completely new level. Some of the costs have already paid off. MGH, together with cryptocurrency analysts, plan to recoup the costs by the end of 2018.
Cryptocurrency or real business
Many companies in the foreign market are very positive about the cryptocurrency market. A number of companies have already given up on real business, having sold all their assets and invested money in mining. Another part of the companies is still looking at the prospects of cryptocurrencies and treats all this with a grain of salt.
What’s in store for the company?
The cryptocurrency market is attractive for large companies because it is not yet taxed and unregulated. It is much easier to have such a business than to keep a huge staff of people and constantly report to the tax office. But what do we get at the end?
Everything will remain in place. There will always be people who are skeptical about the digital asset market. It is they who will continue to buy up real market assets and develop vital industries. Of course, cryptocurrencies have huge advantages such as:
1) No tax
2) Lack of an intermediary (decentralization)
3) Low commission
To say for sure – will cryptocurrency replace real money – so far hardly anyone can. But the market is growing, the interest in cryptocurrency is very large, which means that there is no need to doubt its development. If the security of the cryptocurrency is at the same high level, then there will be no cause for concern.