#CryptoCorner #Podcast 506: #Stocks discussed-(NasdaqGS: $PYPL) (TSXV: $HIVE.V) (CSE: $BTC.C) (OTCQB: $INTV)
#CryptoCorner #Podcast 506: #Stocks discussed-(NasdaqGS:
$PYPL) (TSXV: $HIVE.V) (CSE: $BTC.C) (OTCQB: $INTV)
#Bitcoin Recovers 20%, PayPal Registers Record $242
Million in #Crypto Trading Volume, HIVE Closes $15 Million Private Placement,
and Bluesky Entering Strategic Partnership with WeDig Tech Solutions
Point Roberts, WA, Delta BC January 12, 2021 - 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
cryptocurrency stocks and the crypto market.
Today’s podcast was sponsored by Integrated Ventures (OTCQB: INTV) , a company focused on acquiring,
launching and operating assets in the cryptocurrency sector.
Listen to today’s
Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2021/011221-CryptoMarket.mp3
Read this in full
at
https://www.investorideas.com/news/2021/crypto-corner/01121PYPL-HIVE-BTC-INTV.asp
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Stocks discussed: (NasdaqGS:PYPL) (TSXV:HIVE) (CSE:BTC)
Bitcoin (BTC) ended up sinking
as low as about $30,550 during yesterday’s crash, but has displayed an
impressive recovery, and is trading for around $34,670 at press time, according
to data from CoinMarketCap. This is actually down a bit from its 24-hour peak
trading price of $36,568, reached late last night, which represented a
staggering 20 percent recovery from the day’s downturn. As indicated in
yesterday’s Crypto Corner, Bitcoin’s
on-chain fundamentals look robust, but the crypto market is currently still up
against a recovering US Dollar Index, which may hamper growth in the short
term.
Cointelegraph reports that
PayPal (NasdaqGS:PYPL) registered a record $242
million in crypto trading volume yesterday, doubling its previous record ($129
million on Jan 6). According to the piece, however, it is unclear whether the
volume should be seen as bullish or bearish, given the possibility that it
could be either buy or sell volume. Another article from Cointelegraph
quotes Antoni Trenchev, co-founder of crypto lender Nexo, on the possibility that
Bitcoin’s recent correction could have been caused by retail and retail
investors:
“Once BTC passed $40K, earnings were at a height that
triggered smaller investors who are, understandably, more prone to selling
quickly. There has been a flurry of sell-off transactions in recent days - the
BTC price drop is the result of an accumulation of these transactions.”
HIVE Blockchain
Technologies Ltd. (TSXV:HIVE) has closed its previously
announced non-brokered private placement of unsecured debentures, for aggregate
gross proceeds of USD$15,000,000 with U.S. Global Investors, Inc. HIVE’s
Interim Executive Chairman, Frank Holmes, commented on the announcement:
"The Transaction is an excellent opportunity for
HIVE to enhance liquidity, maintain momentum and deploy capital into additional
miners and infrastructure. U.S. Global has recently sold shares of HIVE in
order to redeploy capital back into HIVE. No shares have been sold by me
personally. The purchase of an 8% debt instrument by U.S. Global is consistent
with its investment criteria and assists HIVE by providing working capital for
its growth strategy. The financing is being completed without the usual 6%
broker fees, and the cost of capital is much less than the 16% cost of capital
associated with leasing equipment for crypto mining."
Bluesky Digital
Assets Corp. (CSE:BTC) has entered into a letter of
intent to formalize a strategic working relationship with international R&D
services provider WeDig Tech Solutions, wherein the latter will “become the
primary arm for Bluesky's advanced software development and applications
product related efforts.” Bluesky COO Anthony R. Pearlman said:
"From an operational perspective we have focused
quite heavily on our crypto mining facilities and our mining assets as the fast
paced virtual currency marketplace has justified this prioritization from a
revenue return and profitability perspective. While we are currently reaping
the rewards of our virtual mining efforts we need to continue to diversify
ourselves as a company and expand our portfolio of offerings and this strategic
partnership with Wedigtech will better provide a separation of efforts and
ensure we accomplish all of our mandates and objectives and position Bluesky as
more than just a virtual mining company."
Sam Mowers, Investorideas
For investors following the
sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency
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Crypto Corner
Podcast sponsor
Integrated Ventures (OTCQB: INTV) is focused on acquiring, launching and
operating assets in the cryptocurrency sector.
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