Investorideas.com breaking Bitcoin, blockchain and crypto stock news

Friday, January 22, 2021

#CryptoCorner #Podcast 513: #Stocks discussed: (NasdaqGS: $MSTR) (OTC: $GBTC) (TSX: $HUT.TO) (CSE: $NTAR.C)

 



 

 

#CryptoCorner #Podcast 513:  #Stocks discussed: (NasdaqGS: $MSTR) (OTC: $GBTC) (TSX: $HUT.TO) (CSE: $NTAR.C)

 

#Bitcoin Bounces Back, MicroStrategy Buys Dip, Hut 8 Finalizes Equipment Loan with Foundry Digital, and NexTech Sells BTC Holdings

 

Point Roberts, WA, Delta BC January 22, 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.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2021/012221-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/01221MSTR-GBTC-HUT-NTAR.asp

 

Get the Crypto Corner Podcast on iTunes

 

Get the Crypto corner on Spotify

 

Stocks discussed: (NasdaqGS:MSTR) (OTC:GBTC) (TSX:HUT) (CSE:NTAR)

 

The past 24 hours have been somewhat turbulent for Bitcoin (BTC), as the flagship cryptocurrency has ranged from a low of just under $29,000 to a present trading price of about $32,600, according to data from CoinMarketCap. Despite this uptick, an article from CoinDesk supposes that further losses may be expected before the next bull run. The piece quotes Matthew Dibb, COO and co-founder of Singapore-based Stack Funds:

 

“Bitcoin broke short-term support on Thursday, and while the market is trading positively now, we may see lows down to the $26,000 mark in the coming weeks.”

 

One of the likely reasons for Bitcoin’s having bounced back this morning, however, is the purchase of $10 million of Bitcoin by MicroStrategy (NasdaqGS:MSTR). The company’s founder and CEO, Michael Saylor, tweeted:

 

MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins.

 

This buying of the dip can be seen by fellow institutional investor Grayscale Investments’ Bitcoin Trust (OTC:GBTC), which according to cryptonews, has added 53,643 bitcoins ($1.69 billion) in the last 30 days.

 

Hut 8 Mining Corp. (TSX:HUT) has finalized an equipment financing loan of $11.8 million from Rochester-based Foundry Digital LLC, a wholly-owned subsidiary of Digital Currency Group (DCG). According to the press release, the company will use this loan, along with a $2.9 million deposit “to order 5,400 units of Whatsminer M30S bitcoin mining machines from MicroBT, adding 475 petahashes per second (PH/s) to its bitcoin mining capacity over the next six months.” Jaime Leverton, CEO of Hut 8, commented:

 

"On behalf of the Hut 8 team, we are thrilled to be partnering with Foundry, the leading provider of equipment financing for institutional mining companies. This partnership builds on Hut 8's ongoing commitment to shareholders by mitigating supply constraints and reducing our capital expenditure with a proactive fleet management strategy to achieve a balanced portfolio of both new, cutting-edge equipment and highly profitable prior generation equipment."

 

Virtual and augmented reality (AR) firm NexTech AR Solutions Corp. (CSE:NTAR) has announced that it has sold its approximately 130.187 Bitcoins and reported around $200,000 in profit. NexTech CEO, Evan Gappelberg, explained:

 

“Our investment in Bitcoin in the past was part of our capital diversification strategy with the intent to maximize long-term value for our shareholders. This sale reflects our awareness that something potentially has changed with Bitcoin which is seen as the digital version of gold. The news that has emerged is that a critical flaw called a ‘double spend’ may have occurred, which if true allows someone to spend the same Bitcoin twice, undermining faith in the system. If the system is built on scarcity and faith in the system, then a ‘double spend’ would eliminate both -essentially destroying the store of value it was meant to be. In light of this potential outcome, I have decided to move to cash as this story is still unfolding.”

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash  and others.

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

 

 



Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 

 

No comments:

Post a Comment

GlobalData to share insight into the global Crypto investment client base

GlobalData to share insight into the global Crypto investment client base