Saving the blockchain. Kodak shares have doubled in price after the announcement of the launch of cryptocurrency
Kodak is not the first company who is experimenting with digital currencies. After the price of bitcoin grew by 1300% in the past year, many companies are somehow involved.
The shares of the Corporation Long Island Iced Tea Corporation rose sharply last month after the company announced that it intends to shift the focus from the beverage industry to study the blockchain technology and investing in it, and rename the Long Blockchain Corporation. Earlier, one biotech company has changed its name to Riot Blockchain, and its shares rose in price four times.
Many have expressed concern about the mania associated with bitcoin, believing that such a crazy take-off currency inflates another bubble in the market, whereby prices are sharply down.
Kodak, founded in 1888, and supplying the camera Americans has long tried to become a modern player in the market of digital photography. She sought protection from bankruptcy in 2012 and next year could be transformed into a more specialized company focused on the production of films for commercial filming. Since that time the company’s shares fell in price by 80%. Its largest shareholder is GSO Capital Partners of the Blackstone group, which helped to support the company through a period of bankruptcy.