Blockchain advisor DigitalX launches crypto TV; but shares fall as bitcoin drops
Blockchain consultant and bitcoin investor DigitalX will soon be on your telly.
The company (ASX:DCC) started a crypto-media joint venture with Perth-based business news venture Multiplier back in May.
Today the company told investors Coincast Media will launch a weekly blockchain news show on Sky News, which will also be available via Apple TV and The Wall Street Journal.
DigitalX owns half Coincast and says the operation has generated revenue of $300,000 so far. The venture includes a variety of crypto news plays, including coin.org and multipliercrypto.com.
Investors were today more focused on the falling price of bitcoin, however.
DigitalX owned 470 bitcoins at the time of its last quarterly cashflow statement (then worth about $US3.3 million) and its stock price tends to track the rise and fall of the cryptocurrency.
After a run up to almost $US8300 this week, bitcoin dropped 5 per cent overnight.
DCC shares were down 9 per cent to 14.5c in early Friday trade.
“Coincast TV” would be will be “a half-hour, weekly blockchain news program, featuring sponsored news content from blockchain and cryptocurrency businesses around the world,” DigitalX chief executive Leigh Travers told investors.
The show will be producer by Multiplier managing director Heidi Cuthbert.
DigitalX also holds a cryptocurrency portfolio and is no stranger to the volatility of digital currency returns.
The share price is up 416 per cent over the past 12 months to 16c.