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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Crypto Bear Market Provides Opportunity For Major Corps, As CP Group Acquires Omise

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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The crypto bear market has been the longest on the record books, causing most cryptocurrencies to decline in value by 85% or higher. While the flight of capital from the crypto market has been brutal for retail crypto investors who bought in at the height of the hype bubble, the bear market has proven to be a unique opportunity for corporations seeking to enter the blockchain or cryptocurrency arena.

The latest example of this was demonstrated by the acquisition of Omise, by Thailand’s wealthiest company, CP Group. CP Group is following the lead of others interested in the space, and are taking advantage of the lowered valuations of these crypto-focused companies during the ongoing bear market.

Thailand’s Richest Company Acquires Omise Payments Firm

According to The Block, Omise, the payments company behind the ERC-20-based OmiseGo, has been acquired by the largest private company in all of Thailand, Charoen Pokphand Group (CP Group). The acquisition was reportedly made for the sum of $150 million, according to sources close to the matter.

https://twitter.com/mdudas/status/1111682308912889857

CP Group is owned by the 4th richest family in Asia, the Chearavanont family, and is one of the largest conglomerates across the entire globe. The importance of their interest in the cryptocurrency space cannot be overstated.

Related Reading | Crypto Analyst Expects Multi-Year Bear Market

The Block reports that CP Group Executive Chairman and Fortune Magazine owner Chatchaval Jiaravanon is working to acquire companies that can be used for crypto payments, such as Omise. The crypto projects being sought include an agricultural division.

Omise is among the leading payment gateways in Thailand, which may have sparked CP Group’s interest. OmiseGo, the token used for payments, has already surged as much as 12% after the news broke.

Other Corporations Eye Crypto Projects During Ruthless Bear Market

It’s not just CP Group that’s got their eye on crypto projects in dire need of support following a long arduous bear market. Los Angeles-based investment firm Maco.la has been scooping up infrastructure companies now that their valuations have nose-dived.

Related Reading | Crypto Prices May Be Down, But Industry Fundamentals Are Healthier Than Ever

“We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation,” explained maco.la co-founder and principal advisor Sheri Kaiserman. “They are coming down in valuation, which is the best part of the crypto winter for us,” she added.

Many corporations are left scratching their head, trying to understand and leverage emerging technologies like cryptocurrencies and blockchain, like the internet before them. During the dot com boom, many companies opted to buy fledgling startups rather than invest in their own infrastructure. Considering this new trend following the bear market, the crypto industry may be witnessing a similar situation across the crypto landscape.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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