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Crypto Corner Podcast 492: Stocks discussed: (NasdaqGS: $MSTR) (NYSE: $GS) (OTCQB: $INTV)

Bitcoin Pulls Back from $24K ATH Reached Over Weekend, MicroStrategy Announces Purchase of $650 Million in BTC, and Coinbase Approached Goldman Sachs to Lead IPO

 

Point Roberts, WA and Delta, BC - December 21, 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.  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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https://www.investorideas.com/Audio/Podcasts/2020/122120-CryptoMarket.mp3

Crypto Corner Podcast 492: Stocks discussed: (NasdaqGS: $MSTR) (NYSE: $GS) (OTCQB: $INTV)

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Crypto Corner Episode 492: Bitcoin Pulls Back from $24K ATH Reached Over Weekend, MicroStrategy Announces Purchase of $650 Million in BTC, and Coinbase Approached Goldman Sachs to Lead IPO

Stocks discussed: (NasdaqGS:MSTR) (NYSE:GS)

Bitcoin (BTC) saw a slight pullback in its trading price this morning, dipping to as low as about $22,250, after having surpassed $24,000 (a new all-time high) a few different times during the weekend, according to data from CoinMarketCap. This may be indicative of a correction, seeing as how Bitcoin has seen nearly constant growth for the last week at least. On the other hand, at press time it is trading for $23,000, indicating that this morning's drop may not be so significant.

Business intelligence company MicroStrategy (NasdaqGS:MSTR) today announced its purchase of an additional approximately 29,646 bitcoins for roughly $650 million in cash at an average price of approximately $21,925 per bitcoin. This brings the company's total Bitcoin holdings to 70,470, according to the press release. MicroStrategy CEO Michael Saylor said:

"The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world's most widely-adopted cryptocurrency, is a dependable store of value. We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price."

Saylor got into an exchange with Elon Musk on Twitter yesterday, after the latter had been tweeting humorously about Bitcoin. Saylor tweeted:

"If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor."

to which Musk replied:

"Are such large transactions even possible?"

Saylor responded:

"Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline - from one rocket scientist to another."

US crypto exchange giant Coinbase, which announced it had "filed preliminary documents with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO)" on December 17, has approached Goldman Sachs (NYSE:GS) to lead said IPO, according to a report from Business Insider. The two companies are linked by Coinbase co-founder Fred Ehrsam, who was previously a trader at Goldman Sachs, according to Cointelegraph.

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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