Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner Episode 479: #Bitcoin Over $18K, ETH Breaks $500, DAiM Launches First 401K with BTC, MUFG (NYSE: $MUFG) Launching #Blockchain Payment Network, Diginex (NasdaqGS: $EQOS) Hold Strategy Day for Investors and Analysts

Friday, November 20, 2020

#CryptoCorner Episode 479: #Bitcoin Over $18K, ETH Breaks $500, DAiM Launches First 401K with BTC, MUFG (NYSE: $MUFG) Launching #Blockchain Payment Network, Diginex (NasdaqGS: $EQOS) Hold Strategy Day for Investors and Analysts

#CryptoCorner Episode 479: #Bitcoin Over $18K, ETH Breaks $500, DAiM Launches First 401K with BTC, MUFG (NYSE: $MUFG) Launching #Blockchain Payment Network, Diginex (NasdaqGS: $EQOS) Hold Strategy Day for Investors and Analysts

Point Roberts, WA, Delta BC November 20, 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:

https://www.investorideas.com/Audio/Podcasts/2020/112020-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2020/crypto-corner/11201Bitcoin-DAiM-MUFG-Giginex.asp

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Stocks discussed: (NYSE:MUFG) (NasdaqGS:AKAM) (NasdaqGS:EQOS)

After initially breaking past it briefly on Tuesday, Bitcoin (BTC) is now trading firmly above $18,000, according to data from CoinMarketCap. At press time, it is valued at about $18,770, which is very close to its all time trading high of roughly $19,770 back in December of 2017. Ethereum (ETH) is also performing well, having reached a trading price of $500 just this morning for the first time since June 2018, nearly two and a half years ago.

Perhaps reflective of Bitcoin’s recently gained stature, Digital Asset Investment Management (DAiM), described as “the first licensed Registered Investment Advisor for Bitcoin and Digital Assets,” announced that it has launched the first ERISA [Employee Retirement Income Security Act] compliant employer-sponsored 401(k) plans with Bitcoin. Adam Pokornicky, COO of DAiM, said:

"From the moment we were approved by the State of California in June 2018, we've seen incredible inbound demand from individuals eager to invest Bitcoin in 401(k)s. Conventional 401(k) plans are restrictive and often lack investment options, causing participants to not only be frustrated but have poor risk-adjusted returns that barely keep up with the rate of inflation. This is a bad deal for savers given the current environment. We believe Bitcoin has demonstrated it has a place in the modern portfolio and individuals should have an opportunity to "Get Off Zero" and invest directly through their retirement account.”

Japanese banking giant Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) is aiming to launch a “high-speed blockchain payment network with the U.S.-based tech firm Akamai (NasdaqGS:AKAM) in 2021,” according to a report from CoinDesk. Through the two firms’ joint venture, Global Open Network (GO-NET), they “will integrate payment terminals from electronic device manufacturer Seiko Holdings with the bank’s credit card company MUFG NICOS in February,” the report says. MUFG is also in the process of developing its own digital currency, MUFG Coin, but it is not clear if it will be related to the blockchain payment network project with Akamai.

Digital assets financial services company Diginex Limited (NasdaqGS:EQOS) recently held its inaugural Strategy Day for investors and analysts. During a presentation concerning “the evolution of digital assets,” Shane Edwards, Head of Investment Products at Diginex, said:

"This is a new world and understandably there has been skepticism, but the technological advancements are far too profound to ignore. Bitcoin has stood the test of time and we will see increasing mainstream adoption from institutions. We are at the cusp of a landmark opportunity in finance where the markets will be revolutionized in the years ahead."

Sam Mowers, Investorideas

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