Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 532: #Stocks discussed: (TSX: $BTCC-B.TO) (TSX: $BTCC-U.TO) (TSX: $EBIT.TO) (TSX: $EBIT-U.TO ) (CSE: $GBLC.C)

Friday, February 19, 2021

#CryptoCorner #Podcast 532: #Stocks discussed: (TSX: $BTCC-B.TO) (TSX: $BTCC-U.TO) (TSX: $EBIT.TO) (TSX: $EBIT-U.TO ) (CSE: $GBLC.C)

#CryptoCorner #Podcast 532: #Stocks discussed: (TSX: $BTCC-B.TO) (TSX: $BTCC-U.TO) (TSX: $EBIT.TO) (TSX: $EBIT-U.TO ) (CSE: $GBLC.C)

#Bitcoin Hits $53K, First Bitcoin ETF Sees $165M Trade Volume in First Day, Second Bitcoin ETF Launches, and Graph #Blockchain Completes Babbage Mining Acquisition

Point Roberts, WA, Delta BC February 19, 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/2021/021921-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/02191BTCC-EBIT-GBLC.asp

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Stocks discussed: (TSX:BTCC-B) (TSX:BTCC-U) (TSX:EBIT) (TSX:EBIT-U) (CSE:GBLC)

As we enter the weekend Bitcoin (BTC) has continued its upward momentum, registering yet another new all-time high trading price of $53,155 earlier this morning, according to data from CoinMarketCap. At press time, Bitcoin is trading for just below $53K, and has a total market cap of about $989 billion.

Yesterday saw the launch of the world’s first Bitcoin ETF from Purpose Investments Inc., trading as Purpose Bitcoin ETF in Canadian dollar denominated ETF non-currency hedged units (TSX:BTCC-B) and U.S. dollar denominated ETF non-currency hedged units (TSX:BTCC-U). According to the press release, the ETF invests “directly in physically settled Bitcoin,” and is “backed directly by physically settled Bitcoin holdings.” CoinDesk reports that, since launching, “about $165 million worth of shares of the newly minted ETF changed investor hands in less than a day.”

A second Bitcoin ETF, also Canadian, from Evolve Funds Group Inc. launched today on the Toronto Stock Exchange as (TSX:EBIT) (CAD) (TSX:EBIT-U) (USD). Raj Lala, President and CEO at Evolve, commented:

"The recent institutional adoption has helped further legitimize the progress of bitcoin. Being able to offer an ETF which holds physical bitcoin is a real game changer in Canada. Now investors may participate in bitcoin via their brokerage accounts within their RRSP and TFSA. Bitcoin has proven to be a store of value that is uncorrelated to other major asset classes – and has now emerged as an asset class itself."

Graph Blockchain Inc. (CSE:GBLC) has completed the acquisition of altcoin-focussed Babbage Mining Corp. Graph Blockchain CEO, Andrew Ryu, said:

"The acquisition of Babbage will help position Graph in the evolving and rapidly expanding cryptocurrency space. According to website Coindesk.com, Bitcoin as a cryptocurrency has a market cap of CDN $1.17 trillion, has increased from a price of around $437 in February 2016 to over $49,400 today, a 11,746% increase. Graph now has a platform in Altcoin for employing blockchain transactions through crypto mining, related payments on blockchain, and a variety of subsequent support services. We look forward to growing Graph organically and through other viable acquisitions in the crypto space.”

Sam Mowers, Investorideas

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