#CryptoCorner Episode 378 - #Bitcoin Back Above $5K, Bakkt Reveals Payment Integration with Starbucks (NasdaqGS: $SBUX), BIGG (CSE: $BIGG.C) Subsidiary Netcoins Sees 120% Volume Increase and Toyota (NYSE: $TM) Announces #Blockchain Lab
#CryptoCorner Episode
378 - #Bitcoin Back Above $5K, Bakkt Reveals Payment Integration with Starbucks
(NasdaqGS: $SBUX), BIGG (CSE: $BIGG.C) Subsidiary Netcoins Sees 120% Volume
Increase and Toyota (NYSE: $TM) Announces #Blockchain Lab
Point Roberts, WA, Delta BC March 18, 2020
- Investorideas.com, a leader in crypto
and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
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Bitcoin Back Above $5K, Bakkt Reveals Payment
Integration with Starbucks, BIGG Subsidiary Netcoins Sees 120% Volume Increase
and Toyota Announces Blockchain Lab
Stocks discussed: (NYSE:ICE) (NasdaqGS:SBUX) (CSE:BIGG)
(NYSE:TM)
Since the last
episode of Crypto Corner, Bitcoin (BTC) has poked its
head above $5,000 and been more or less stable around $5,150 - $5,200 for the
last couple of days, according to data from CoinMarketCap. This may seem
modest when set against its trading price a week ago ($7,850), but represents a
recovery of $600 from Monday’s low of $4,600. A big question is how Bitcoin,
and the wider crypto market, will react to the newly announced round of
quantitative easing. This recent market devastation seems to have indicated
that Bitcoin is not uncorrelated to traditional markets, but the former’s
built-in scarcity, amplified by the impending “halvening”, is expected to
position it favorably against the Fed’s printing of new dollars. However
whether scarcity is enough to confer value remains to be seen.
Bakkt, the crypto
arm of Intercontinental Exchange (NYSE:ICE), has revealed
payment integration with Starbucks (NasdaqGS:SBUX). Bakkt President Adam White tweeted:
As global markets shed trillions of dollars, empowering
consumers with new spending power more important than ever
We're also reducing payment costs for merchants which
improves their bottom line. Open your
@Starbucks app to see our first direct integration and
select @Bakkt to sign up for our Early Access Program
BIGG Digital Assets
Inc. (CSE:BIGG) has announced that its
subsidiary, crypto trading app Netcoins Inc., has seen in-app trading volumes
increase by 2.2x (120 percent) from March 1-16 compared to the first half of
February 2019. It has reported $1.87 million in trades, exclusive of OTC volumes.
Netcoins President, Mitchell Demeter, commented:
“While the price movements of Bitcoin have
been bearish, Netcoins’ trade volumes, as well as those in the overall market,
have been exceptionally strong thus far in March. As Netcoins is a crypto brokerage,
volatility that drives higher trading volumes bolsters our business. Since last
Fall, we have been making steady progress on driving more retail customers,
with a usual per trade range from $50 to $1,000, into our Netcoins app to
increase trading volumes - which compliments our OTC business. We look forward
to providing further updates as Netcoins and the crypto markets evolve in 2020.“
Toyota Motor
Corporation (NYSE:TM) and Toyota
Financial Services Corporation have announced the launch of a
cross-Group virtual organization, Toyota Blockchain Lab. According to the press
release, “Areas of focus will include the examination of possible use
applications and promoting demonstration trials that include relevant
businesses. In addition, with regard to various blockchain platforms around the
world, in collaboration with partner companies, we will formulate non-functional
evaluation items to accelerate the social implementation of the technology, and
accumulate technical knowledge to select a suitable platform for each
application.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
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