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Crypto Corner Podcast 528: Stocks discussed: (NYSE: $TWTR) (NYSE: $SQ) (NYSE: $UBER) (NasdaqGS: $TSLA) (NasdaqGS: $PYPL)

Twitter and Square CEO Dorsey Announces 500 BTC Trust with Jay-Z, Uber CEO Open to Bitcoin for Transactions, PayPal Announces UK Rollout of Crypto Products, and Canada Approves North America’s First Bitcoin ETF

 

Point Roberts, WA and Delta, BC - February 12, 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/2021/021221-CryptoMarket.mp3

Crypto Corner Podcast 528: Stocks discussed: (NYSE: $TWTR) (NYSE: $SQ) (NYSE: $UBER) (NasdaqGS: $TSLA) (NasdaqGS: $PYPL)

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Stocks discussed: (NYSE:TWTR) (NYSE:SQ) (NYSE:UBER) (NasdaqGS:TSLA) (NasdaqGS:PYPL)

Following yesterday's Crypto Corner, Bitcoin (BTC) continued to rally, eventually hitting yet another new all-time high trading price of $48,745, according to data from CoinMarketCap. It has since receded, somewhat, clocking in at about $47,000 at press time, but is up nearly 24 percent in the last seven days.

It's not just this bull run that is keeping Bitcoin in the news, however. Earlier today Jack Dorsey, CEO of both Twitter (NYSE:TWTR) and Square (NYSE:SQ), tweeted that he and rapper Jay-Z are giving 500 BTC to a newly-created Bitcoin development trust to fund Bitcoin "teams in Africa & India." According to Cointelegraph, the tweet was posted "just hours after news broke concerning India's alleged plans to completely ban the use of cryptocurrencies within its borders."

During an interview with CNBC's Squawk Box, Dara Khosrowshahi, CEO of Uber (NYSE:UBER), indicated that his company did not intend to follow Tesla's (NasdaqGS:TSLA) example of investing in Bitcoin:

"It was a conversation that happened that has been quickly dismissed. We're going to keep our cash safe. We're not in the speculation business."

He went on to say, however, that the company would consider it as a medium of exchange:

"Just like we accept all kinds of local currency we are going to look at cryptocurrency and or bitcoin in terms of currency to transact. That's good for business, that's good for our riders and our eaters."

CoinDesk reports that PayPal (NasdaqGS:PYPL) is introducing its buy, sell and hold crypto products to the UK in a few months. The company is also launching its crypto as a funding service in a few months, and revealed that "crypto products in Venmo will go live in the first half of 2021." The article quotes Jonathan Auerbach, executive vice president and chief strategy, growth and data officer at PayPal:

"We're actually looking at our crypto services to help position PayPal, to help shape the role of cryptocurrencies and [central bank digital currencies] in consumer payments, commerce and financial services safely and securely. So early days for us here, but we're moving rapidly."

BNN Bloomberg reports that Canada has become the first North American country to approve a bitcoin ETF as securities regulators greenlight Purpose Bitcoin ETF from Purpose Investments Inc. Matt Hougan, chief investment officer of Bitwise Asset Management in the U.S., who has a pending ETF in that country, said:

"We are excited by this development for the entire industry, but more importantly for investors who would like regulated and transparent exposure to this new asset class. We look forward to the day when the United States regulatory environment has evolved to a state where Bitcoin ETFs can be issued here as well."

Sam Mowers, Investorideas

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