Global Arena Holding Inc (OTCMKTS:GAHC) Has Been A Big Winner For Us, What's Next?

Global Arena Holding Inc (OTCMKTS:GAHC) is one of our biggest second quarter winners. The company went for a little over $0.01 a share when we first highlighted (as part of this piece) it as being one to watch back on April 26. Mid morning on Tuesday this week, this had risen to $0.063. That's a close to 450% run in a matter of weeks.On the back of this sort of gain, it's time to update our thesis. Can the company continue to run or might shareholders be better pulling profits off the table now and reallocating?Here's what we're thinking.For those new to the company, it's a bitcoin company with a focus on the development of software based on the blockchain. The bitcoin space is on fire right now, as bitcoin itself has risen (and continues to rise) to fresh highs on an almost daily basis. The gains we are seeing in the underlying asset are translating to parallel gains in the companies that have ties to the sector and – to a certain extent – Global Arena Holding is one such company.Specifically, this one has two subsidiary companies – one called GAHI Acquisition Corp and one called Global Election Services. The former was set up to serve as a moniker through which Global Arena could operate crypto type businesses – specifically, through the application of the blockchain (the technology framework that underpins bitcoin) to various different areas of tech and finance. That was the blurb, at least. Right now it seems as though the company is operating both subs as a single unit – it's attempting to build an election type registration system on the blockchain and it's applying this system to various elections (we've learned of eight in the past twelve months or so) as a means of generating revenues.What's important to recognize here is that this isn’t a bitcoin company. Sure, it's running up because it's working on blockchain technology, but that's not bitcoin. Bitcoin is built on a blockchain, so is this company's election technology. It's not the same blockchain, however.This isn’t necessarily a bad thing. That bitcoin is enjoying so much success serves as proof of concept for the blockchain theory in itself. It shows it works, is scalable and – in theory – applicable to pretty much anything that requires non manipulatable data storage.It’s not a bad thing, but it doesn’t guarantee that a company like Global Arena can execute on the application of the concept in a different space.So far, however, this discrepancy doesn’t seem to matter. Markets are buying up anything and everything bitcoin (and mistakenly, blockchain) related and these companies are enjoying strength alongside their digital currency counterpart.How long this strength will last is very much the primary risk here. When the bitcoin runs slows, and corrects, so these stocks. As of yet, we don't see this happening very near term (we're talking through mid to late June). Bitcoin is strong right now because bitcoin's infrastructure, which has been put in place over the last half decade, is benefiting from (and successfully withstanding) a demand boost on the back of governmental acceptance in various regions (primarily, Japan). With this acceptance sitting against a backdrop of risk off sentiment (and bitcoin becoming something of a safe haven asset, especially for the more tech savvy), the digital currency looks set to continue to appreciate.If and when the market corrects, it's likely going to quickly find a bottom before returning to the upside momentum.So to answer our question, we see two ways of playing this. Booking profits and waiting for a correction to reenter may be a smart move. Alternatively, ride out the stock for a couple more weeks and revert to step one.We will be updating our subscribers as soon as we know more. For the latest updates on GAHC, sign up below!Disclosure: We have no position in any of the securities mentioned and have not been compensated for this article.