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Crypto Corner Podcast 518: Stocks discussed: (NYSE: $GME) (NasdaqGS: $MARA) (CSE: $BIGG.C)

Bitcoin Rallies After Elon Musk Boost, Dogecoin Breaks Records Following WallStreetBets Pump, Marathon Provides One-Year Grant for Bitcoin Core Developer, and BIGG Acquires $1 Million CAD in Bitcoin

 

Point Roberts, WA and Delta, BC - January 29, 2021 (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.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/012921-CryptoMarket.mp3

Crypto Corner Podcast 518: Stocks discussed: (NYSE: $GME) (NasdaqGS: $MARA) (CSE: $BIGG.C)

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Bitcoin (BTC) is up over 16 percent in the last 24 hours after having rocketed about $5,000 from around $32,000 to about $37,000 yesterday, according to data from CoinMarketCap. This is being attributed to, in part, Elon Musk's adding #bitcoin to his Twitter profile description.

But the attention this brings to Bitcoin is arguably being overshadowed by that of the Dogecoin (DOGE) altcoin. CoinMarketCap has Dogecoin up around 300 percent at press time, though this is subject to drastic and sudden change. Similar to the recent surge of GameStop (NYSE:GME), this explosive growth was instigated by posts and tweets from WallStreetBets traders on Twitter and Reddit. Apart from the growth in trading price, Dogecoin has also seen record highs in its trading volume - which briefly surpassed that of Bitcoin.

Marathon Patent Group, Inc. (NasdaqGS:MARA) has provided a one-year grant to bitcoin core developer Jonas Schnelli. According to the press release, this "follows Coinbase's recent decision to help contribute to the development of Bitcoin Core by offering grants to two developers," both of whom had previously "been receiving funding from crypto mining giant, Bitmain." Merrick Okamoto, Marathon's chairman and CEO, said:

"As one of the largest Bitcoin mining firms, we believe it is essential that we do our part to help advance the Bitcoin network. Absent core developers like Jonas, Bitcoin's efficacy and long-term adoption, and therefore our business, could be impacted. This grant will allow Jonas to continue his important work on our collective behalf."

BIGG Digital Assets Inc. (CSE:BIGG) has acquired 24.3 additional Bitcoins ($1 million CAD) which will be used for its online cryptocurrency brokerage Netcoins' operational float, and also become part of BIGG's long term treasury holdings. This purchase brings the company's treasury to 239.3 bitcoin ($10.3 million CAD). BIGG CEO, Mark Binns, said:

"BIGG's subsidiary Netcoins continues to experience significant monthly increases in trading volume, and with immediate settlement to customers, we require a larger crypto float to meet daily customer buying demands. To meet this demand, we have expanded our Bitcoin holdings and will continue to do so over the coming weeks. We also believe our Bitcoin holdings can act as a source of self financing and value creation over time, as we continue to expand our core crypto trading and blockchain forensic software businesses."

Sam Mowers, Investorideas

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