#CryptoCorner Episode 437: BTC Drops Alongside Gold and Silver, Grayscale Bitcoin Trust (OTC: $GBTC) Sees 90% Asset Increase in Quarterly Filing
#CryptoCorner Episode 437: BTC Drops Alongside Gold and Silver, Grayscale Bitcoin Trust (OTC: $GBTC) Sees 90% Asset Increase in Quarterly Filing
Listen
to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2020/081220-CryptoMarket.mp3
Read
this in full at https://www.investorideas.com/news/2020/crypto-corner/08121BTC-GBTC.asp
Get the Crypto
Corner Podcast on iTunes
Get the Crypto
corner on Spotify
Stocks discussed: (OTC:GBTC)
Since Monday’s Crypto Corner, Bitcoin’s (BTC) trading price has dropped somewhat,
correlating with a similar downtrend observed in the price of gold and silver.
While peaking at about $12,000 on Monday, Bitcoin went as low as about $11,220
on Tuesday, but has since risen again to around $11,560 at press time,
according to data from CoinMarketCap. Bitcoin’s approximate shadowing
of gold and silver has historical precedent, as it is often seen as a store of
value alternative to fiat currencies like USD.
Crypto investment
firm Grayscale Bitcoin Trust (OTC:GBTC) has seen a net increase in its
assets from $1.87 billion at the end of 2019 to $3.5 billion by the end of Q2
2020 – a 90 percent increase – according to a filing with the Securities and Exchange
Commission (SEC) dated August 7. This surge comprised an increase in Bitcoin
held from 261,192 at the end of 2019 to nearly 387,000 on June 30, coupled with
an increase in Bitcoin’s trading price.
CNBC reports that British fintech firm Revolut
lost $139.6 million in 2019, which was triple the $43 million it lost the year
prior. The firm, which offers banking and trading services through an app –
including cryptocurrencies – sustained these losses despite having “nearly
tripled its total user base in 2019 to 10 million from 3.5 million,” in 2018.
However, the company’s chairman, Martin Gilbert, said:
“Both 2019 and the first months of 2020 have been
periods of significant achievement and expansion for Revolut, putting the
company on a clear path to long-term sustainable growth.”
“Our continued growth and expansion during the pandemic
has shown the resilience of our strategic plans and we are pleased that these
plans are further endorsed by new investors.”
The South Korean
city Seongnam plans to expand its already existing blockchain-powered payment
program by issuing new digital gift certificates, according to local outlet Kyunghyang Shinmun. The city recently
announced that it had signed a business agreement with the Korea Mint
Corporation to launch a card-type mobile certificate, which will run on the
latter’s mobile “Chak” app. According to Cointelegraph, there will be “three digital
gift certificate types – representing cash, check cards, and mobile cards – can
be used at 45,000 card merchant locations across the city.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big Investing
Ideas Investorideas.com
is a recognized news source publishing third party news, research and original
financial content. Learn about investing in stocks and sector trends with our
news alerts, articles, podcasts and videos,
looking at cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy and more. Investor Idea’s original branded content includes
the following podcasts and columns : Crypto Corner , Play
by Play
sports and stock news column, Investor Ideas Potcasts Cannabis News and
Stocks on the Move podcast and column, Cleantech
and Climate Change
, Exploring
Mining the AI
Eye .
The Crypto Corner is part of the Investor Ideas
Membership content
The Investorideas.com podcasts are also available on
iTunes, Spotify, Tunein, Stitcher,
Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third
party sourced news, articles and equity research as well as creates original
content, including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global
investors must adhere to regulations of each country. Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news
content is not meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership:
Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and
Android
Join our Investor Club https://www.investorideas.com/membership/
Contact
Investorideas.com
800-665-0411
Comments
Post a Comment