SACRAMENTO, CA, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Sunstock, Inc. (the “Company” or “Sunstock”) (Stock Ticker Symbol: SSOK), has purchased 6,388 ounces of silver. With this latest silver purchase, Sunstock has amassed almost 60,000 ounces of silver.
Sunstock is in discussions with board members and various institutions about the potential for a new cryptocurrency that is backed by physical silver holdings, a first of its kind.
The cryptocurrency market is growing by leaps and bounds with Bitcoin surpassing expectations this last month, reaching new highs over $11,000 per coin. The Company believes there is great demand for a cryptocurrency that is backed by physical assets, in this case, silver.
Sunstock believes that this precious metal is currently undervalued, and it is a strategic time to purchase more silver. Sunstock plans to acquire an additional 66,112 ounces of silver over the next six months. Upon completion of the planned silver acquisitions in 2018, the Company would hold a total inventory of over 125,000 ounces of silver.
Silver is invaluable in today’s industry: batteries, LED chips, glass and mirror coatings, medicine, water purification, nuclear reactors, solar energy, RFID chips, semiconductors and touch screens are just some of the industrial uses. Demand for silver will continue to increase in line with industry growth.
Additionally, Sunstock has concluded that stimulative monetary policies adopted by the United States, European Union, China, and Japan have set the stage that may cause inflation to rise and increase the value of precious metals. Japan, Sweden and Switzerland have announced and implemented policies to impose negative interest rates in their retail banking systems to persuade their citizens to increase consumer spending.
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