It is Dec 8, 2017 and The Hemp Coin (THC) has went up over 120% so far. There was a tweet that some news is going to come out tomorrow that is going to really shake some things up. It is a great possibility that The Hemp Coin can be expected to see highs that it has never seen before. Besides the tweet about news the reason that I think there is a surge is because I along with others think marijuana dispensaries all throughout California will be using The Hemp Coin as a method of payment for marijuana and other merchandise sales. Why do I think this?
In California on November 8, 2016 voters passed Prop 64. Prop 64 made it legal for people who are 21 years old and up to use marijuana for recreational purposes (ballotpedia.org). While marijuana for recreational use and the cultivation of weed plants became legal on November 8, 2016 marijuana dispensaries were not allowed to sell it for recreational use yet because they needed to have a state license to do so. However, on January 1, 2017 state licenses will be issued to businesses in the marijuana industry. This will allow these businesses to sell it for recreational and other uses in California. So, if you are 21 years old and up you can walk into a pot shop and buy some weed.
However, even though marijuana is legal to sale and use for recreational purposes in the state of California among several other states, it is still illegal Federally and classified as a schedule 1 drug. This poses a problem for marijuana dispensaries in many ways. First, because it is illegal on a Federal level, many banks do not want to hold on to the money that was made from selling weed. Second, if the Feds want to start seizing their bank accounts because they made money from weed sales the dispensaries will have a lot of legal problems. Third, if they receive cash payments for weed sales they risk criminals robbing them for all that hard earned cash they made at the end of the day. So, if marijuana dispensaries want to lower the risk of being robbed and having their bank accounts seized by the Feds they can reduce those risks by receiving The Hemp Coin as a payment for weed and other merchandise. This means there can be a greater demand and rise in value for The Hemp Coin.
Disclaimer: I am not a financial adviser everything here is my personal opinion. If you invest it is at your own risk and I am not telling you to invest or not to invest in The Hemp Coin (THC) .
Please send a comment and let me know what you think. Follow, upvote and share:)