#CryptoCorner #Podcast 549: #Stocks discussed: (NasdaqCM: $FTCV) (NasdaqCM: $MARA) (CSE: $NC.C)
#CryptoCorner #Podcast 549: #Stocks
discussed: (NasdaqCM: $FTCV) (NasdaqCM: $MARA) (CSE: $NC.C)
eToro
Going Public with SPAC Merger, Marathon Reports Q4 2020 Financials, and
NetCents Launching NFT Division
Point Roberts, WA, Delta BC March 16,
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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https://www.investorideas.com/Audio/Podcasts/2021/031621-CryptoMarket.mp3
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Stocks discussed: (NasdaqCM:FTCV)
(NasdaqCM:MARA) (CSE:NC)
Multi-asset
investment platform eToro Group Ltd. has entered into a definitive business combination
agreement with special purpose acquisition company (SPAC) Fintech Acquisition
Corp. V (NasdaqCM:FTCV). The combined companies will
operate as eToro Group Ltd., which is expected to be listed on NASDAQ.
According to the press release, eToro “is expected to have an estimated implied
equity value of approximately $10.4 billion at closing, reflecting an implied
enterprise value for eToro of approximately $9.6 billion.” Betsy Cohen,
Chairman of the Board of Directors of FinTech V, said:
“In the last few years, eToro has
solidified its position as the leading online social trading platform outside
the U.S., outlined its plans for the U.S. market, and diversified its income
streams. It is now at an inflection point of growth, and we believe eToro is
exceptionally positioned to capitalize on this opportunity.”
Marathon
Digital Holdings, Inc. (NasdaqCM:MARA) has reported its financial results for the fourth
quarter and fiscal year ended December 31, 2020. Some Q4 highlights include the
purchase of “90,000 of the industry’s most efficient Bitcoin miners,” bringing
the company’s mining fleet “to approximately 103,120 miners capable of
producing 10.37 EX/s (exahash per second) by the first quarter of 2022.”
Marathon’s CFO, Sim Salzman, said:
“Financially, 2020 was highlighted by
a 268% increase in revenue year-over-year and a substantial improvement to our
balance sheet. We ended the year with $216.1 million cash and cash equivalents,
which compares to less than $1.0 million cash at the end of 2019. While the
price of Bitcoin and the network difficulty rate are subject to change, our
mining operations are expected to produce at approximately 90% gross margins,
which gives us confidence that we will see improvements in our financial
metrics over the coming quarters as we continue to build out our mining
operations.”
Crypto
payments firm NetCents Technology Inc. (CSE:NC), along with its partner, The Human
Interest Group, is creating a specific internal division around
Non-Fungible tokens (NFTs). Clayton Moore, Founder and CEO of NetCents,
explained:
"The growth of the NFT is as
important as the creation of the Smart Contract as an enhancement of the
traditional Bitcoin technologist. We are putting massive resources behind this
as part of our transaction ecosystem strategy. New use cases for NFTs are being
created daily - and because of their very nature, there will be more NFTs than
altcoins within months. NFT's are a Trillion-dollar opportunity and will become
a Trillion Dollar Asset class pretty quickly. We have already seen a single NFT
trade for millions - so a trillion is easy to imagine - likely eclipsing
Cryptocurrency in the near term. Hold on to your shorts."
Sam
Mowers, Investorideas
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