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Crypto Corner Episode 480: HIVE (TSXV: HIVE) Enters MOU to Acquire 50MW Data Centre Campus, PayPal (NasdaqGS: $PYPL) CEO Discusses Bitcoin on CNBC’s Squawk Box

 

Point Roberts, WA and Delta, BC - November 23, 2020 (Investorideas.com Newswire) 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.

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Crypto Corner Episode 480: HIVE (TSXV: HIVE) Enters MOU to Acquire 50MW Data Centre Campus, PayPal (NasdaqGS: $PYPL) CEO Discusses Bitcoin on CNBC's Squawk Box

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Stocks discussed: (TSXV:HIVE) (NasdaqGS:PYPL)

Bitcoin (BTC) has made it through the weekend with support at or above $18,000 relatively intact. It did, however, briefly dip down to a trading price of about $17,750 on Sunday, but has since recovered and is trading for roughly $18,475 at press time, according to data from CoinMarketCap. But Bitcoin is not alone in this recent rally. Many so-called altcoins, such as Ethereum (ETH) and XRP, are seeing considerable upward movement, with both posting double-digit percentage gains in the past 24 hours. Also derived from CoinMarketCap's data, Ethereum is up about 11 percent, and XRP is up 22.5 percent over yesterday, at press time.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has entered into a non-binding, exclusive memorandum of understanding (MOU) with GPU.One Holding Inc. to purchase GPU Atlantic Inc., a new and state of the art 50 MW data centre campus located in New Brunswick, Canada. Frank Holmes, Interim Executive Chairman of HIVE, commented:

"We are excited about this opportunity for HIVE to expand our Canadian footprint through the acquisition of this data centre campus which has access to 50 megawatts of low-cost green power in Grand Falls, New Brunswick. Further, and important to building our vision, is the GPU.One team of young, skilled and proven data centre professionals with deep high density data centre build out and maintenance experience who will take on executive positions within HIVE's organization."

Gazprombank Switzerland, a subsidiary of Russian banking giant Gazprombank, has announced the launch of "a fully regulated cryptocurrency investment and account management solution for its clients," done in collaboration with banking software firm Avaloq and crypto company Metaco. Gazprombank CEO Roman Abdulin said:

"We are delighted to announce the successful launch of our bespoke cryptocurrency offering. Our solution allows us to make transactions with cryptocurrencies as easy as transactions with traditional assets. Digital assets will become increasingly important for our clients and the global economy. We are pleased to work together with leading Swiss-based entities on the further development of the Swiss and global crypto and blockchain ecosystem."

Dan Schulman, CEO of PayPal (NasdaqGS:PYPL), did an interview with CNBC's Squawk Box, in which he explained the company's plans for Bitcoin and cryptocurrency adoption:

"One of the things that we allowed is not just making it easy to buy, sell and hold cryptocurrencies, but very importantly, early next year, we're going to allow cryptocurrencies to be a funding source for any transaction happening on all 28 million of our merchants. And that will significantly bolster the utility of cryptocurrencies."

Sam Mowers, Investorideas

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