Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 597: #Stocks discussed: (NasdaqGS: $MSTR) (NasdaqGS: $TSLA) (NYSE: $HSBC) (TSX: $HUT.TO)

Tuesday, May 25, 2021

#CryptoCorner #Podcast 597: #Stocks discussed: (NasdaqGS: $MSTR) (NasdaqGS: $TSLA) (NYSE: $HSBC) (TSX: $HUT.TO)

#CryptoCorner #Podcast 597: #Stocks discussed: (NasdaqGS: $MSTR) (NasdaqGS: $TSLA) (NYSE: $HSBC) (TSX: $HUT.TO)

MicroStrategy & Tesla CEOs meet with leading #Bitcoin miners, HSBC not launching #cryptocurrency trading desk, Hut 8 procures new server hardware through Amulet Hotkey

Point Roberts, WA, Delta BC May 25, 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/2021/052521-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/05251MSTR-TSLA-HSBC-HUT.asp

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Stocks discussed: (NasdaqGS:MSTR) (NasdaqGS:TSLA) (NYSE:HSBC) (TSX:HUT)

Michael Saylor, CEO of MicroStrategy Incorporated (NasdaqGS:MSTR), arranged a meeting with Elon Musk, CEO of Tesla (NasdaqGS:TSLA), along with several other business leaders in the crypto space yesterday. A tweet from Elon Musk read:

“Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”

Saylor himself commented on Musk’s tweet:

“Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide.”

Humorously, CEO of EuroPacific Capital and crypto opponent Peter Schiff, responded with:

“In other words you hosted an ass-kissing. Let's see if it buys you more than a one-day rally.”

Data from CoinMarketCap this morning indicates that this high profile meeting has not, as of yet, proven to be a game changer in the crypto market. Bitcoin (BTC), after some ups and downs yesterday, is clocking in at around $37,700 USD, or roughly the same as was reported in yesterday’s Crypto Corner. Ether (ETH), however, is up about 6.4 percent since yesterday’s show and is trading for about $2,600 at press time.

Reuters reports that banking giant HSBC (NYSE:HSBC) does not intend to launch a cryptocurrency trading desk or offer crypto to clients for investment, primarily as a consequence of market volatility. CEO Noel Quinn told the publication:

"Given the volatility we are not into Bitcoin as an asset class, if our clients want to be there then of course they are, but we are not promoting it as an asset class within our wealth management business. For similar reasons we're not rushing into stablecoins.”

However, on CBDCs (central bank digital currencies), Quinn said:

"CBDCs can facilitate international transactions in e-wallets more simply, they take out friction costs and they are likely to operate in a transparent manner and have strong attributes of stored value.”

Hut 8 Mining Corp. (TSX:HUT) has procured new server hardware through Amulet Hotkey, unlocking “enterprise quality hardware, technical support, and a plethora of monitoring and control tools.” Jaime Leverton, CEO of Hut 8 Mining, commented:

"The multi-functionality of these servers is what attracted Hut 8 to this opportunity and motivated us to procure hardware through Amulet Hotkey. Our executive leadership team will continue seeking out opportunities that foster long-term value for Hut 8 investors as we grow to meet and exceed the accelerated needs of the high-performance computing industry."

Sam Mowers, Investorideas

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