#CryptoCorner Episode 431: BTC Passes $11K as Rally Continues, Bakkt (NYSE: $ICE) Futures Hit Record Highs, HIVE (TSXV: $HIVE.V) to Partner with EU Research Project
#CryptoCorner
Episode 431: BTC Passes $11K as Rally Continues, Bakkt (NYSE: $ICE) Futures Hit
Record Highs, HIVE (TSXV: $HIVE.V) to Partner with EU Research Project
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to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2020/072920-CryptoMarket.mp3
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Stocks discussed: (NYSE:ICE) (TSXV:HIVE)
Bitcoin (BTC) has continued to rally, having gained
nearly $1,000 since Mondays’ Crypto
Corner, and is now clocking in at a trading price of about $11,100,
according to data from CoinMarketCap. $10,500 was identified as a crucial support level on our last
episode, and Bitcoin never went below that point after reaching it later on
Monday. Also on Monday, Bitcoin cracked the $11,000 mark, even peaking at about
$11,250, and has since been oscillating by a few hundred dollars.
As Bitcoin was
rallying, Bakkt, the crypto subsidiary of Intercontinental Exchange (NYSE:ICE), yesterday tweeted that it broke a record for Bitcoin
Futures traded:
Talk about momentum! We beat yesterday's record with
11,706 Bakkt Bitcoin Futures traded today - that's over $125MM of bitcoin
HIVE Blockchain
Technologies Ltd. (TSXV:HIVE) has announced that it will become a development
partner in the Boden Type Data Center (BTDC) research project, described in the
press release as “a European Union-funded project with the key objective of
demonstrating a range of highly innovative key engineering principles to
construct the most cost- and energy-efficient data centers with minimal
environmental impact.” Tobias Ebel, Board Director, HIVE, explained:
"Our mission at HIVE is to provide High
Performance Computing capacity with environmental responsibility. Our past
achievements have been very good but the BTDC presents an opportunity to set
new standards for this sector.”
Frank Holmes, Interim
Executive Chairman of HIVE, said:
“Large scale HPC, including for mining of
cryptocurrencies such as Bitcoin and Ethereum, is a growth market. This
research project is designed to provide us one of the foundations to making
HIVE a more efficient and profitable operation with the lowest environmental
impact.”
Japanese outlet The
Asahi Shimbun reports that the Bank of Japan is to “begin
substantive testing of digital currency,” and that a central bank digital
currency (CBDC) has become “one of the top priority issues,” for the central
bank. Takeshi Kimura, the central bank's department director-general indicated
that in its work on the CBDC, the BOJ “would cooperate with the private sector,
which may have more in-depth technical knowledge about the issue.” The report
further indicates that pressure to keep up with China is also encouraging the
central bank to speed up its efforts.
Sam
Mowers, Investorideas
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