#CryptoCorner Episode 404: Square’s (NYSE: $SQ) Cash App Allows Scheduled Purchases, Grayscale (OTC: $GBTC) Reports Surge in Total AUM
#CryptoCorner
Episode 404: Square’s (NYSE: $SQ) Cash App Allows Scheduled Purchases,
Grayscale (OTC: $GBTC) Reports Surge in Total AUM, BIGG (CSE: $BIGG.C) Partners
with IX Asia Limited, DMG Blockchain Solutions (TSXV: $DMGI.V) Releases Updated
Operational Outlook
Point Roberts, WA, Delta BC May 20, 2020 - Investorideas.com,
a leader in crypto and blockchain investing news brings you today’s edition of
the Crypto Corner
podcast and commentary on what’s driving the cryptocurrency market.
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Stocks discussed: (NYSE:SQ) (CSE:BIGG) (TSXV:DMGI)
(OTC:GBTC)
Cash App, a mobile
payment system from Square, Inc. (NYSE:SQ), announced in a tweet that it now allows users
to “schedule automatic stock and bitcoin purchases.” The tweet went on to say
that “By spreading purchases out over time, you may minimize the impact of
market swings.” Square CEO Jack Dorsey indicated in his own tweet that the app’s automatic purchases can
be scheduled daily, weekly or biweekly.
BIGG Digital Assets
Inc. (CSE:BIGG) has entered into a Partnership Agreement with
fintech startup IX Asia Limited wherein the latter will incorporate tools from
BIGG subsidiary Blockchain Intelligence Group (BIG). These tools include the
company’s BitRank Verified product, which offers a risk score for
cryptocurrencies, and QLUE, a Blockchain-agnostic search and analytics engine.
Blockchain Intelligence Group’s President, Lance Morginn, commented:
“By partnering with industry leaders like IX Asia it
will allow us to further establish our presence in the APEC region. IX Asia has
well established relationships and connections and won the Fintech Awards 2019
for Wealth Investment and Management. We look forward to the opportunity to
collaborate with IX Asia to bring education and other technical solutions for
their current and future business initiatives.”
DMG Blockchain
Solutions Inc. (TSXV:DMGI) has revealed a new corporate presentation
including an updated operational business outlook. A key highlight of this is
the company’s plan to “expand its self-mining efforts with a goal to becoming
one of the largest North American bitcoin mining companies by compute power.”
DMG anticipates that approximately 65 percent of its mining capacity at its
facility will be for self-mining by the end of 2021. An excerpt from the press
release reads:
Increasing self-mining compute power will require the
Company to secure sufficient capital through equity, debt, or joint ventures in
order to purchase additional miners, add more megawatt capacity to the
Company’s existing mining facility, and potentially acquire a second or third
mining facility.
Cointelegraph reports that digital asset
management fund Grayscale has reached total assets under management (AUM) of
$3.8 billion. Grayscale Bitcoin Trust (OTC:GBTC) has led the growth, accounting for
$3.36 billion, or 89 percent of the firm’s total AUM, and has achieved growth
of 76 percent from last year’s $1.9 billion AUM.
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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