#CryptoCorner #Podcast 544- #Stocks discussed: (TSX: $GLXY.TO) (TSX:BTCX-B, BTCX-U) (CSE: $BIGG.C) (CSE: $BTC.C)
#CryptoCorner #Podcast 544- #Stocks discussed: (TSX: $GLXY.TO) (TSX:BTCX-B, BTCX-U) (CSE: $BIGG.C) (CSE: $BTC.C)
#Bitcoin
Rally Pushes Market Cap Back Over $1T, CI Galaxy Bitcoin ETF to Begin Trading
on #TSX Today, BIGG Digital Assets Invests $100K Into DeFi Ventures, and
Bluesky Completes Mining Hardware Order for Over $1M
Point Roberts, WA, Delta BC March 9, 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.
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Stocks discussed: (TSX:GLXY)
(TSX:BTCX-B, BTCX-U) (CSE:BIGG) (CSE:BTC)
The
past 24 hours has seen Bitcoin (BTC) rocket from the roughly $51,000 reported
in yesterday’s Crypto Corner, to a
trading price of about $54,400 at press time, according to data from CoinMarketCap.
This has pushed Bitcoin’s total market cap back over $1 trillion USD. Matthew
Dibb, COO and co-founder of Stack Funds, told CoinDesk:
“While many were concerned about the
USD strength and a turbulent macro market, BTC has continued to break recent
highs. We believe the risk-off correlation between these markets is slowly
unwinding, and the cryptocurrency could challenge record highs.”
An
announcement from CI Global Asset Management (CI GAM) yesterday indicated that
Canadian securities regulators have issued a receipt for the final prospectus
of the CI Galaxy Bitcoin ETF, which begins trading on the TSX today as BTCX-B and BTCX-U. Galaxy Digital Capital Management LP
(GDAM), the Asset Management arm of Galaxy Digital Holdings Ltd. (TSX:GLXY), will act as the bitcoin sub-advisor
for the ETF, while CI GAM will manage it. Steve Kurz, Partner and Head of Asset
Management at GDAM, commented:
“We believe the emerging digital asset
class presents compelling growth and diversification opportunities. The CI
Galaxy Bitcoin ETF offers a simple and secure access point for traditional
investors to gain exposure to bitcoin.”
BIGG
Digital Assets Inc. (CSE:BIGG) has announced a strategic investment
of $100,000 CAD in DeFi Ventures Inc., the latter of which is described in the press release as “a Vancouver-based
company seeking to simplify and streamline access to the assets and technology
that power the new era of decentralized finance.” Mark Binns, CEO of BIGG
Digital Assets, said:
“We are in unique times, as technology
and trustless code have set the stage for a more effective means to enable
financial products that do not require centralized institutions as
intermediaries. Our investment in DeFi Ventures shows our support for an
established group of entrepreneurs and our continued leadership in the
cryptocurrency sector.”
Bluesky
Digital Assets Corp. (CSE:BTC) has formalized and completed a new mining hardware order for high
hash rate ASIC mining machines totaling $1,000,830 USD. The company’s COO,
Anthony R. Pearlman, explained:
"This latest acquisition of ASIC
mining assets is a very complimentary diversification of mining hardware type
and this ASIC focused order will give us a significant horsepower boost to
further realize potential increased revenue and profitability with targets like
Bitcoin (BTC), while at the same time maintaining a diversified approach and
focus on other targets like Ethereum (ETH) with our recently announced large
orders of GPU mining hardware. This positive trending market demands we act
fast and deliver on efforts at a time while increased revenue and profitability
present themselves, we have, and continue to, demonstrate our abilities to do
just that!"
Sam
Mowers, Investorideas
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