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Crypto Corner Podcast Episode 519: Stocks discussed: (NasdaqGS: $MARA) (CSE: $BIGG.C)

Bitcoin Cools Off Over Weekend, XRP Sees Brief Rally, Bitmain Delivers 4,000 Miners to Marathon Facility, and BIGG's Netcoins Registers 2.4x MoM Growth

 

Point Roberts, WA and Delta, BC - February 1, 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/2021/020121-CryptoMarket.mp3

Crypto Corner Podcast Episode 519: Stocks discussed: (NasdaqGS: $MARA) (CSE: $BIGG.C)

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Stocks discussed: (NasdaqGS:MARA) (CSE:BIGG)

Despite reaching as high as about $37,800 on Friday, Bitcoin (BTC) promptly lost steam before entering the weekend, and sunk as low as around $32,580 on Sunday, according to data from CoinMarketCap. This brief rally was attributed to Elon Musk's having added #bitcoin to his Twitter profile description. Though it doesn't seem to have had a lasting impact on Bitcoin, Musk's enthusiasm for the cryptocurrency was confirmed by recent comments of his on Clubhouse, an invite-only audio chat social media platform. According to Cointelegraph, Musk said:

"I do think Bitcoin is a good thing. I'm a supporter of Bitcoin. I think Bitcoin is on the verge of getting broad acceptance by conventional finance."

Another even more recent crypto rally that fizzled out quickly was that of XRP. According to, once again, Cointelegraph, XRP was targeted by a crypto offshoot of the Reddit group Wallstreetbets called Satoshistreetbets, which pumped it to as high as $0.74 from around $0.30. Though this peak was reached just this morning, XRP has since plummeted, and is currently trading for about $0.43, according to CoinMarketCap. The briefness of XRP's rally may be tied to the lawsuit filed against Ripple by the U.S. Securities Exchange Commission (SEC).

Marathon Patent Group, Inc. (NasdaqGS:MARA) has announced that 4,000 Antminer S-19 Pro ASIC miners have been shipped from Bitmain to Marathon's mining facility in Hardin, MT. Merrick Okamoto, Marathon's chairman and CEO, commented:

"This shipment of 4,000 S-19 Pro miners is the first of many we will be receiving from Bitmain in 2021 as we build towards becoming one the largest and most efficient miners in North America. We are very encouraged to see that this order has been processed on time and as anticipated. We expect all 4,000 of these miners to be installed by the end of February, and based on current schedules, we anticipate receiving and installing an additional 6,300 miners in March and another 4,800 in April."

BIGG Digital Assets Inc. (CSE:BIGG) has announced January 2021 trading volumes for its online cryptocurrency brokerage, Netcoins. Trading volume on the platform exceeded $81 million CAD, according to the press release, registering 2.4x Month over Month (MoM) growth. Mitchell Demeter, President of Netcoins, said:

"We are thrilled with the exponential growth we have accomplished over the last year, with revenues increasing over 1900% this month vs January 2020. We already have the infrastructure in place to support another year of significant growth. We also have a number of new products, features, and initiatives on the roadmap to maintain our current trajectory and deliver another exceptional year.

We are well positioned to continue capitalizing on the increased demand for our services as we see more monthly active users and higher trading volumes per customer. Netcoins continues to excel as Canada's easiest, most trusted way to buy and sell crypto."

Sam Mowers, Investorideas

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