#CryptoCorner #Podcast 559: #Stocks discussed: (NasdaqGS: $PYPL) (TSX: $GLXY.TO) (TSXV: $CSTR.V)
#CryptoCorner #Podcast 559: #Stocks
discussed: (NasdaqGS: $PYPL) (TSX: $GLXY.TO) (TSXV: $CSTR.V)
#Bitcoin Rallies as PayPal Announces Checkout with #Crypto, Galaxy Digital
Reports 2020 Financials, and CryptoStar Renegotiates Equipment Purchase
Agreement
Point Roberts, WA, Delta BC March 30,
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/2021/033021-CryptoMarket.mp3
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Bitcoin
(BTC) is on the move again this morning, having
reached a peak trading price of roughly $59,450, according to data from CoinMarketCap.
Bitcoin has been on a mostly steady upward trajectory since last Thursday
(March 25), and is now once again in the neighbourhood of its all-time high
trading price of about $61,680, reached on March 13, 2021.
This
bullish movement from Bitcoin is likely, at least in part, a reaction to news
from PayPal (NasdaqGS:PYPL) announcing the launch of Checkout with Crypto.
According to the press release, this is a new feature enabling customers with
cryptocurrency holdings in the U.S. “to check out with crypto seamlessly within
PayPal at checkout,” and is available at millions of global online businesses.
PayPal’s President and CEO, Dan Schulman, said:
“As the use of digital payments and
digital currencies accelerates, the introduction of Checkout with Crypto
continues our focus on driving mainstream adoption of cryptocurrencies, while
continuing to offer PayPal customers choice and flexibility in the ways they
can pay using the PayPal wallet. Enabling cryptocurrencies to make purchases at
businesses around the world is the next chapter in driving the ubiquity and
mass acceptance of digital currencies."
Galaxy
Digital Holdings Ltd. (TSX:GLXY) has reported financial results for itself and
Galaxy Digital Holdings LP for the year ended December 31, 2020. Highlights
include a net comprehensive income increase for 2020 of 1,396 percent to $385.5
million, from $25.8 million in the previous year. Galaxy Digital’s Founder and
CEO, Michael Novogratz, announced that the company is “actively preparing for a
U.S. listing in the second half of 2021.” He went on to say:
“We believe our industry is at an
inflection point as we participate in a once in a lifetime secular shift into
cryptocurrencies as an institutionalized asset class. Galaxy Digital is
committed to leading our clients and the industry through this
transformation."
CryptoStar
Corp. (TSXV:CSTR) has renegotiated an equipment purchase agreement
with a Hong Kong-based company to acquire a combination of GPU and ASIC miners.
The company has also purchased additional mining Hashrate from additional
suppliers. CryptoStar President and CEO, David Jellins, commented on the news:
"We are delighted to be adding
self-mining Hashrate using this highly sought-after GPU and ASIC mining
equipment. We are looking forward to taking delivery of the additional GPU and
ASIC miners from our Vendor and from our additional suppliers. We are also
looking forward to self-mining on a larger scale as we continue to add further
self-mining Hashrate throughout the remainder of 2021 and beyond. The Company
has transitioned from a self-mining, Bitcoin only, company to a self-miner of
both Bitcoin and Ethereum and CryptoStar is now able to host in Alberta, Canada
for cryptocurrency mining customers from around the globe at amongst the lowest
power rates available in North America."
Sam
Mowers, Investorideas
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