#CryptoCorner #Podcast Episode 500: #Stocks discussed: (NasdaqGS: $MARA) (TSXV: $HIVE.V) (CSE: $BIGG.C) (OTCQB: $INTV)
#Bitcoin Rockets to Over $34K Only to Promptly Crash and Recover, Altcoins Soar, Marathon Completes $200 Million Offering, HIVE Nearly Doubles Hash Rate with Miner Purchase, BIGG’s Netcoins Reports Another Monthly Trading Volume Record AND a Brief #Crypto Retrospective Since Crypto Corner Debut
Point Roberts, WA, Delta BC January 4, 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.
Listen to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2021/010421-CryptoMarket.mp3
Read this in full at https://www.investorideas.com/news/2021/crypto-corner/01041MARA-HIVE-BIGG-INTV.asp
Get the Crypto Corner Podcast on iTunes
Get the Crypto corner on Spotify
Stocks discussed: (NasdaqGS:MARA) (TSXV:HIVE.V) (CSE:BIGG.C)
Bitcoin (BTC) is certainly off to an eventful start this year, having rapidly climbed to another new all-time high of about $34,500 on January 2 – that’s after spending New Year’s Day around $29,000 – to suddenly crashing to about $28,700 last night, according to data from CoinMarketCap. This appears to have been short-lived, however, as it promptly recovered, and is trading for roughly $31,000, at press time. An article from CoinDesk characterized the pullback as possibly being an overdue correction after the explosive growth seen in recent days. Matthew Dibb, co-founder and COO of Stack Funds, said to CoinDesk:
“Bitcoin is having a much-needed reset. After a period of increased leverage and high [perpetual] funding rates across derivatives platforms, a brief consolidation around these levels is required.”
Amid this short-lived pullback has been a considerable rally for many altcoins. Ether (ETH), for instance, has grown about 14 percent in the last 24 hours (or 43 percent in the last week), and is trading for $1,043 at press time after recently peaking at $1,140, according to data from CoinMarketCap. This is the highest Ether has traded since January 2018.
Marathon Patent Group, Inc. (NasdaqGS:MARA) has completed its previously announced $200 million shelf offering by utilizing its at-the-market (ATM) facility, allowing it to end the 2020 fiscal year with $217.6 million in cash and 74,656,549 shares outstanding. The company plans to use this money to pay for miners it has purchased from Bitmain, and to “further grow the business.” Merrick Okamoto, Marathon’s Chairman and CEO, said:
“Completing this capital raise was a milestone for our business as it provided us with an efficient means of procuring the necessary funds to pay for the miners we have purchased from Bitmain. We operate in a volatile industry in which prescient timing and scale are paramount to efficiently driving profitability. The unique relationship we have built with Bitmain allowed us to secure a record number of miners, which because of the substantial increase in Bitcoin’s price and subsequent increase in demand for mining rigs, are now being sold in secondary markets at multiples of our purchase price.”
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has purchased 4,180 MicroBT WhatsMiner M31S+ next generation miners, a move that almost doubles the company’s aggregate operating hash rate to 653 PH/s. Meanwhile, the company also continues to be a leader in Ethereum production, having produced “approximately 22,000 Ethereum coins in the last quarter ended December 31, 2020 and inventory ended with approximately 13,100 Ethereum coins,” according to the press release.
BIGG Digital Assets Inc. (CSE:BIGG) has announced that its subsidiary, the online cryptocurrency brokerage Netcoins, has set another consecutive monthly record for trading volumes, having exceeded $33 million in December 2020. Netcoins president, Mitchell Demeter, said:
“Overall 2020 was a very successful and foundational year for Netcoins, despite the obvious Covid-19 related challenges. The plan we have in place for 2021 is expected to deliver similar results as we lead the country in regulation and continue to grow domestically, expand geographically, and increase our product offerings. Being owned by a public, audited, and transparent company has given Netcoins the unique ability to build trust with our users and provide a safe crypto trading solution across Canada.”
As this is the milestone 500th episode of Crypto Corner, it would be remiss not to take a step back and look at some of the key changes in the crypto market since this bulletin started (before it was even a podcast) back on March 1, 2018, nearly three years ago. Data from CoinMarketCap tells us that when Crypto Corner debuted, crypto’s total market cap peaked at about $463 billion, and Bitcoin peaked at a trading price of just shy of $11,200. That means that, since then, the crypto market has grown by roughly $378 billion, clocking in at $841 billion at press time, and Bitcoin is trading at about $20,000 higher, with a current trading price of around $31,000. Of course, in March 2018, the crypto market was coming down from its massive 2017 bull run, which has only recently been matched and surpassed, whereas it appears to very much still be in a bull market at present.
Apart from the aforementioned market cap and trading price increases, the institutional interest and support for crypto has been the most unignorable change since 2018’s downhill journey. This ranges in degree and character from the rise in interest in central bank digital currencies (CBDCs), the establishment of blockchain-based payment systems like Facebook’s Libra (now Diem) and the adoption of cryptocurrencies like Bitcoin into existing payments systems like PayPal, just to name a few. We’ll end with a quote from Galaxy Digital CEO Mike Novogratz, from a recent BBC interview:
“If I told you three years ago that Bitcoin was a hard asset, and [that] macro hedge funds and insurance companies and asset managers would buy it, you’d be like “Nah nah nah, that’s a fringe product.” But in the last three years that story has changed, and now we’re seeing places like PayPal – with 340 million customers – servicing Bitcoin and selling Bitcoin…we have at least three big insurance companies buying. So, as the institutions move in, there’s just not a lot of supply. There are 21 million bitcoins that will ever be mined … there are a lot more than 21 million millionaires out there, let alone citizens. Bitcoin is owned by over 110 million people around the world, so it’s the single biggest distributed asset in history, other than the [US] dollar.”
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash and others.
Crypto Corner Podcast sponsor
Integrated Ventures (OTCQB: INTV) is focused on acquiring, launching and operating assets in the cryptocurrency sector.
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
The Crypto Corner is part of the Investor Ideas Membership content
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Disclosure : INTV is a featured monthly crypto stock on Investorideas.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android
Join our Investor Club https://www.investorideas.com/membership/
Contact Investorideas.com
800-665-0411
Get more Bitcoin and Blockchain Investor ideas – news, articles, podcasts and stock directories