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What Is MCAP ?
MCAP is a mining and ICO token which was released by BitcoinGrowthFund (BGF). It is a Blockchain based Venture Capital Fund. BGF is a kick-starter where clients can own equity in the train of tokens in various investment chances. MCAP Labs have released a coin named MCAP.
All MCAP transactions are going to be recorded to the Bitcoin Blockchain to secure immutability and clarity. BitcoinGrowthFund has planned to launch a total of 100 million tokens and has only released 20% of the MCAP tokens as of now. The other 80% will eventually be started in the coming months.
Known as GainBitcoin, the project offers a crypto active mining service in the cloud, connected to the GBMiners founder, Amit Bhardwaj. MCAP is born with the promise of being a cryptocurrency to control them all -according to the video of the launching- adducing that investing in MCAP will be able to perceive gains by the rises of all the most promising cryptocurrencies of the market.
The man behind MCAP is Amit Bhardwaj whom, according to Wikipedia, is also the founder of Amaze Mining & Blockchain Research Ltd, GBMiners, CoinBank, and “has invested in several industries and companies among them include Airbitz, Alpha Point, Air Selfie, Rock Miner and 1Hash. ”
According to the website of the Bitcoin Growth Fund, the IAP of MCAP raised more than 50 million dollars, at a sale price of 23.5 dollars per crypto active. Also, almost eleven million MCAP were sold, some with a discount. With this injection of capital, GainBitcoin now can make more payments to its investors, since they can only receive them using this currency.
The funds raised from the sale of MCAP tokens are going to be invested in different mining projects and other ICOs. Those responsible for GainBitcoin posted a video on the website of the Bitcoin Growth Fund with projections and estimates for the price of MCAP coin.
Initially, a German Hedge Fund Manager had declared that based on the market’s behaviour, he could see the price of MCAP rising to $100 by November but by now it is expected to reach that number by the first trimester of 2018. What is more, they the purchase of the cryptocurrency even if the price declines, as another way of securing more income.
Also, according to the exposure of the supposed crypto active, it is said that its value comes from investments in mining in the cloud, but the connection between these elements is not explained. MCAP Labs will invest in the mining of several AltCoins the ones that they have shortlisted such as Bitcoin, Litecoin, DashCoin, Ethereum, Zcash, and Monero. They continually update their portfolio as and when new coins are launched to gain maximum profits from mining.
For more information about MCAP, you may visit the following links:
● Official website: https://mcaplabs.com
● Official Reddit: https://www.reddit.com/r/TheMCAPCoin/
● Official twitter: @MCAPLabs