In 2013, the technology industry was one of the best-performing areas of the stock market. As valuations continue to soar in January, investors should consider under-the-radar companies in an effort to obtain outsized returns. Investors may want to focus their attention on companies catering to the cryptocurrency market, particularly the Bitcoin market.
With the recent announcement that a major U.S. retailer has decided to accept Bitcoin as a form of payment, it appears that companies associated with this form of payment may see dramatic growth over the coming years. One company in particular that investors should pay attention to is Myriad Interactive Media (MYRY.PK). The company also trades on the Berlin Stock Exchange under the symbol XNG.BE.
Myriad Interactive Media, based in Canada, is an interactive website development company with a focus on developing interactive media websites and mobile applications. The company has an experienced team that allows it to compete in several technology niches such as search engine optimization, search engine marketing, social media marketing, Web development, graphic design, and corporate branding.
There are three main reasons why Myriad Interactive Media stood out as a strong technology company:
- • Participation in the Bitcoin revolution
- • Strong product portfolio
- • Social media component
New product announcements are a great way to uncover promising small-cap companies that may generate outsize investment returns in the future. On December 10, Myriad Interactive Media announced its newest innovation, called CryptoCafe.com. This platform will make Myriad one of the pioneers of bringing the cryptocurrency market to the mainstream.
CryptoCafe.com will take advantage of the soaring interest in the Bitcoin payment system in addition to other cryptocurrencies such as Litecoin. The company is expecting to launch the site for both the desktop and mobile markets on or before March 10. Bitcoin is a peer-to-peer payment system and digital currency. It is referred to as a cryptocurrency because it uses cryptography to control the creation and transfer of money.
Bitcoin as a form of payment for products and services has seen substantial growth. Merchants have an incentive to accept the currency because transaction fees are lower than the 2-3 percent typically imposed by credit card processors.
In a press release, Myriad Interactive Media said that CryptoCafe.com is only the start of the company’s Bitcoin endeavors. Based on the company’s history of announcing unique ideas and then delivering on them, investors and consumers should anticipate a big follow-up announcement to CryptoCafe.com coming soon.
There have been several recent news announcements surrounding retailers that will begin accepting Bitcoin payments. One of the biggest online retailers, Overstock, announced that it will begin accepting Bitcoin as a payment choice along with Visa (NYSE:V), Mastercard (NYSE:MA), and Paypal (NASDAQ:EBAY). The other three payment methods in that list are already worth a combined $270 billion:
- Visa: $140 billion
- MasterCard: $100 billion
- Paypal: at least $15 billion
Although Overstock represents just the first major online retailer to accept Bitcoin as a form of payment, it likely won’t be the last. Myriad Interactive Media’s new platform, CryptoCafe.com, will be positioned perfectly to benefit from the expected Bitcoin growth over the coming years.
In addition to CryptoCafe.com, one of the primary reasons why Myriad Interactive Media stood out as an attractive investment is the company’s history of developing unique, crafty, and useful ideas. The company has built a team of experienced and dedicated employees to build out a strong product portfolio that should generate substantial growth over the coming years. The portfolio consists of the following:
- MyMobiPoints — An exciting mobile app which allows companies to more effectively market their businesses while rewarding customer loyalty at the same time.
- MingleSuite.com — A unique and innovative solution that allows companies to display their entire social media work in one centralized location.
- TickerPulse.com — A website that aggregates investment message boards into one centralized location.
- TickerTweets.com — A unique program which allows investors to gain an in-depth analysis of both Twitter posts and Twitter users in an effort to track stock sentiment.
As investors can see, Myriad Interactive Media has developed a diversified, unique, and powerful platform that should generate substantial growth over the coming years. The various websites combine the most popular elements of today’s world, which includes mobile applications, social media, cryptocurrencies, and investor solutions. Each of these platforms has a lot of potential, especially MyMobiPoints.
MyMobiPoints technology appears to be setting the course for substantial growth. MyMobiPoints is an innovative way for a company’s clients to help market the business while earning loyalty points at the same time. The loyalty points segment is the critical component, as it incentivizes and motivates clients to spread the word about a business through popular social media platforms such as Facebook (NASDAQ:FB), Twitter (NASDAQ:TWTR), Instagram, and Foursquare. MyMobiPoints has three components that should make it especially attractive to aspiring businesses:
- Completely customizable
- Easy to use
- Control belongs to the business
Myriad Interactive Media has built an impressive and effective portfolio. Each of the company’s unique solutions was built for a specific and effective purpose. Given the expected growth of both the Bitcoin payment system and social media, I firmly expect Myriad to begin generating substantial investor excitement over the coming years. Additionally, with Facebook looking to expand its mobile platform, Myriad Interactive Media could even make for an attractive takeover candidate. Investors should definitely keep their eyes on this growing technology firm.
Christine Andrews is an analyst and fund manager with almost 20 years of investment experience. She covers a variety of industries, with a special focus on technology, and likes to write about value stocks, poorly understood or under-followed situations, and contrarian perspectives.