COIN CITADEL COM NPV (OTCMKTS:CCTL) Is A Great Exposure To Bitcoin

Today, we need to talk again about COIN CITADEL COM NPV (OTCMKTS:CCTL), the bitcoin company, which has started creeping back up the charts again. 1 year chart for CCTLWhat happened?There are several reasons that may explain this shares move. First of all, we believe that market participants are buying the dip because of bitcoin. This is what we could see in the bitcoin/USD chart, as the volume registered increased after bitcoin started its comeback.Additionally, we also detected an increase in the amount of social media activity. We saw new reactions on Yahoo Finance Conversations, iHub registered new comments and a new article was released on Seeking Alpha.In this article, we will provide more details.BusinessLet's check again the business history of Citadel for those who are learning about this company now. The company was created in May 1986 in Nevada. It has changed its name several times, as the company has undergone through several transactions. The following are different names of the company:

• Fertility Advancements, Inc.
• Nettel, Inc.
• One Touch Total Communications.
• Carbon Jungle, Inc.
• Global New Energy Industries, Inc.

According to the materials received by the market right now, the company is now headquartered in Reno, NV, and the business objective is the following:

"The Company is a holding company organized with a goal of acquiring and managing a diversified portfolio of profitable, growth-oriented companies." Source: Last Quarterly Report

Additionally, in a small part in the company materials (page 14, item 10 - Other Information), we could find what the market seems to appreciate very much in this company: in September, 2014, the company purchased 513 bitcoins.Recent DevelopmentsThe company did not release any announcement recently. That is why many market participants wondered what was happening with the volume in the stock.Our explanation for what's going on is the following. The company owns 513 bitcoins inside, thus every time bitcoin moves, CCTL's stock price moves as well. The next good question is what has recently happened with the bitcoin. Several news hit the bitcoin market in September, which made it decline sharply.The first bad news was that China posed to stop trading of cryptocurrencies by the end of September. According to an article published by Bloomberg BTC China, one of the biggest Chinese bitcoin venues was expecting to be closed by month-end.It is true that People’s Bank of China did not confirm anything and the competitors of this big exchange are not closing, but the rumors were enough to push the bitcoin price down. On top of it, JPMorgan Chase & Co.’s Jamie Dimon and billionaire investor Howard Marks noted, like others in the past, that the Bitcoin is in a big bubble. It did not help either. Have a look at it: Bitcoin Fall (Source: https://www.bloomberg.com/news/articles/2017-09-15/china-is-said-to-call-for-bitcoin-exchange-halt-by-month-end-j7lblmdg)What happened after?Like it is always the case in big declines in the market, other individuals profited and seemed to acquire large amount of bitcoins in September. Have a look at the following chart and please note the large amount of bitcoins that changed hands after the decline: Bitcoin Price and Volume (Source: data.bitcoinity.org)That's one way by which we can explain the increase in the amount of CCTL shares that changed hands in September. We believe that the other reason comes from the recent increase in the social media activity. A new article on Seeking Alpha mentioning the stock, new positive reactions in Yahoo Finance Conversations as well as new comments on the iHub Forum may be increasing the demand for the stock.We had a look at Google trends and could see that the stock is being mentioned much more over the Internet. This is another way of measuring the interest of the market. Google trends on "Coin Citadel"ConclusionCurrently trading with a market cap of $0.2 million, CCTL is an interesting play on Bitcoin. With no cash in the balance sheet, we believe that the market is only looking at those 513 Bitcoins that the company purchased in 2014. In our opinion, some people have found that this company may be a great idea to profit from the Bitcoin volatility and they are buying the stock. For investors looking for Bitcoin exposure, CCTL is an obvious play for investors.Be sure to check out our coverage on CCTL.We will be updating our subscribers as soon as we know more. For the latest updates on CCTL, sign up below!Image courtesy of Zach Copley via FlickrDisclosure: We have no position in CCTL and have not been compensated for this article.