#CryptoCorner #Podcast 501- #Stocks discussed: (NYSE: $JPM) (NasdaqGS: $MARA) (TSXV: $DMGI.V) (CSE: $NC.C) (OTCQB: $INTV)
#Bitcoin Steady as Binance Sees ATH in Trading Volume, JPM Predicts Long Term BTC Potential for $146K, Marathon and DMG Forming Digital Currency Miners of NA, and NetCents Adding Interest Bearing #Crypto Accounts
Point Roberts, WA, Delta BC January 5, 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. Today’s podcast was sponsored by Integrated Ventures (OTCQB: INTV), a company focused on acquiring, launching and operating assets in the cryptocurrency sector.
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Read this in full at https://www.investorideas.com/news/2021/crypto-corner/01051JPM-MARA-DMGI-NC-INTV.asp
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Stocks discussed: (NYSE:JPM) (NasdaqGS:MARA) (TSXV:DMGI) (CSE:NC)
For today’s Crypto Corner we find Bitcoin (BTC) in roughly the same spot as yesterday, trading for about $32,250 according to data from CoinMarketCap. Bitcoin spent the last 24 hours more or less oscillating between a low of about $30,200 and a peak of around $32,850. Changpeng Zhao (CZ), the CEO of crypto exchange giant Binance, tweeted yesterday that Binance had seen an all-time high of “$80+ billion in trading volume in the last 24 hrs,” before adding that the exchange had experienced scaling issues but “will fix them as quickly as [they] can.” He said in a subsequent tweet:
“To put this in perspective, from Nov 15, 2017 to Dec 15, 2017, the month leading up to the ATH in 2017, @Binance did $20 billion in trading volume in 1 month. And we were the largest with those volumes back then.”
Bloomberg reports that strategists from JPMorgan (NYSE:JPM) say that Bitcoin “has the potential to reach $146,000 in the long term as it competes with gold as an asset class.” They went on to say:
“A crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term. A convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as a long-term target, and thus an unsustainable price target for this year.”
Marathon Patent Group, Inc. (NasdaqGS:MARA) has entered into a non-binding memorandum of understanding with DMG Blockchain Solutions Inc. (TSXV:DMGI) to form the Digital Currency Miners of North America (DCMNA), a “a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool.” The press release outlines benefits of the pool as being profit sharing, increased transparency, and lobbying efforts. Marathon’s chairman and CEO, Merrick Okamoto, said:
“To date, companies such as ours have relied on pools primarily based in Asia to connect to the Bitcoin network, and we have been frustrated by the lack of transparency and audited data. Marathon has been a leader both in terms of market capitalization and also in terms of lobbying regulators on behalf of our industry, and we look forward to working diligently to build the capabilities of DCMNA on behalf of our mining partners and DCMNA’s new members.”
Crypto payments firm NetCents Technology Inc. (CSE:NC) has announced an expansion of its product offering with the addition of interest bearing crypto accounts on its platform. Clayton Moore, NetCents CEO, said:
"The pandemic has really demonstrated how there are 80 million households that are unbanked in North America, and that the current financial system isn't focused [on] providing solutions to [the] masses, they are maximizing revenue by focusing on the rich. Paying interest on deposits is something that lean companies like NetCents [are] well suited to offer."
Sam Mowers, Investorideas
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Crypto Corner Podcast sponsor
Integrated Ventures (OTCQB: INTV) is focused on acquiring, launching and operating assets in the cryptocurrency sector.
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