#CryptoCorner Episode 425: Grayscale (OTC: $GBTC) Nears $1 Billion in Q2 Investments, Travala.com Sees Business Spike Following Expedia (NasdaqGS: $EXPE) Partnership
Point Roberts, WA, Delta BC July 15, 2020 - 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:
Stocks discussed: (OTC:GBTC) (NasdaqGS:EXPE)
Crypto asset manager Grayscale Investments released a report highlighting investment activity across its family of products, which found that in Q2 of 2020, it raised $905.8 million. Grayscale Bitcoin Trust (OTC:GBTC) led among investments, accounting for $751.1 million and making for its “fourth record-breaking quarter in a row.” However, investment in other Grayscale products also saw an increase, with an increase of 35 percent over the first quarter of this year. According to the report, 84 percent of all investment in the quarter came from institutional investors, with new investors accounting for $124.1 million of inflows and 57 percent of the investor base.
Japan’s government is expected to include the idea of a digital yen in its forthcoming economic plan, according to an article from Nikkei. The decision to pursue a central bank digital currency (CBDC) has not been without detractors in Japan, with the central bank itself having expressed trepidation in the past. A report from Cointelegraph on the subject points out that China’s rapid development of a CBDC has “accelerated” Japan’s own plans for a digital currency. In an interview with Cointelegraph, Kozo Yamamoto, Liberal Democratic Party (LDP) Member of the House of Representatives and a former official at the Ministry of Finance, said:
“If Japan doesn't issue a digital currency and people in the world use other digital currencies, the Japanese yen will be forgotten and lose its sovereignty.”
Crypto-based travel company Travala.com recently partnered with online travel giant Expedia (NasdaqGS:EXPE) in a move to expand its platform. According to Cointelegraph, the site has already seen a spike in its business, with a booking revenue increase of 75 percent in the two weeks after the partnership. Travala.com CEO Juan Otero told the publication:
“We’re also seeing a sharp increase in the number of bookings paid with cryptocurrencies, particularly in the native AVA token as the preferred crypto payment option after Bitcoin. From 59% of the total bookings in June paid with cryptocurrencies to almost 70% so far in July following the recent partnership with Expedia.”
He went on to say:
“The easing of travel restrictions has definitely impacted our recovery, however the acceleration of growth we’re witnessing since the partnership with Expedia is significant. As we partner with more leading travel suppliers like Expedia, the Travala.com platform becomes more and more competitive.”
Sam Mowers, Investorideas
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