#CryptoCorner #Podcast 576: #Stocks discussed: (TSXV: $BITF.V) (NasdaqGS: $COIN)
#CryptoCorner #Podcast 576: #Stocks
discussed: (TSXV: $BITF.V) (NasdaqGS: $COIN)
#Bitcoin
Crashes Following Biden Tax Plan Sell-Off, Bitfarms Partners with Foundry
Digital, and Coinbase Hires Former Google Pay Exec for India Operations
Point Roberts, WA, Delta BC April 23,
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/2021/042321-CryptoMarket.mp3
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this in full at https://www.investorideas.com/news/2021/crypto-corner/04231BITF-COIN.asp
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Stocks discussed: (TSXV:BITF)
(NasdaqGS:COIN)
Bitcoin
(BTC) is down 10 percent in the past 24 hours
(nearly 20 in the past week), according to data from CoinMarketCap,
following a dramatic sell-off that started yesterday. An article from CoinDesk cites U.S. President Biden’s
“proposed tax hike for capital gains on those earning above $1,000,000,” as
probably being a major cause of the sell-off. Oliver von Landsberg-Sadie, CEO
of BCB Group, told CoinDesk, however:
“While the shock may be sustained in
stock markets, the nature of cryptocurrency will see straight through this dip.
The difference between cryptocurrency and any other market is that we’re seeing
more and more large-scale crypto buyers who simply have no intent on exiting
the position.”
At
press time, Bitcoin is trading for roughly $49,400, and Ether (ETH), which reached an all-time high trading
price of $2,641 just yesterday, is now trading for about $2,265.
Bitfarms
Ltd. (TSXV:BITF) has partnered with Digital Currency Group (DCG)
subsidiary Foundry Digital LLC, and announced Bitfarms’ purchase of 2,465
Whatsminer M30S Bitcoin mining machines through Foundry’s services. This has
increased Bitfarms’ operating hashrate by 133 PH/s. Emiliano Grodzki, CEO of
Bitfarms, commented:
“We are excited to partner with an
industry-leading provider of equipment financing to secure timely and reliable
access to the latest generation of Bitcoin mining machines, and to continue to
grow our business.”
Coinbase
(NasdaqGS:COIN) has hired Pankaj Gupta, a former Google Pay exec,
as VP of Engineering and Site lead for India. In a blog post on the subject,
Gupta explained:
Specifically, the plan is to hire
hundreds of employees across all levels in engineering, product management, UX
design, research and program management within the next 1–2 years to build out
a full tech hub in India. Together, we’ll work on some of the most interesting
challenges spanning the full modern tech stack — including deep tech areas like
blockchains, data engineering, infrastructure, machine learning and more.
Sam
Mowers, Investorideas
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investors following the sector Investor Ideas has a comprehensive Bitcoin,
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