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Crypto Corner Podcast 544: Stocks discussed: (TSX: $GLXY.TO) (TSX: BTCX-B, BTCX-U) (CSE: $BIGG.C) (CSE: $BTC.C)

Bitcoin Rally Pushes Market Cap Back Over $1T, CI Galaxy Bitcoin ETF to Begin Trading on TSX Today, BIGG Digital Assets Invests $100K Into DeFi Ventures, and Bluesky Completes Mining Hardware Order for Over $1M

 

Point Roberts, WA and Delta, BC - March 9, 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/2021/030921-CryptoMarket.mp3

Crypto Corner Podcast 544: Stocks discussed: (TSX: $GLXY.TO) (TSX: BTCX-B, BTCX-U) (CSE: $BIGG.C) (CSE: $BTC.C)

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Stocks discussed: (TSX:GLXY) (TSX:BTCX-B, BTCX-U) (CSE:BIGG) (CSE:BTC)

The past 24 hours has seen Bitcoin (BTC) rocket from the roughly $51,000 reported in yesterday's Crypto Corner, to a trading price of about $54,400 at press time, according to data from CoinMarketCap. This has pushed Bitcoin's total market cap back over $1 trillion USD. Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk:

"While many were concerned about the USD strength and a turbulent macro market, BTC has continued to break recent highs. We believe the risk-off correlation between these markets is slowly unwinding, and the cryptocurrency could challenge record highs."

An announcement from CI Global Asset Management (CI GAM) yesterday indicated that Canadian securities regulators have issued a receipt for the final prospectus of the CI Galaxy Bitcoin ETF, which begins trading on the TSX today as BTCX-B and BTCX-U. Galaxy Digital Capital Management LP (GDAM), the Asset Management arm of Galaxy Digital Holdings Ltd. (TSX:GLXY), will act as the bitcoin sub-advisor for the ETF, while CI GAM will manage it. Steve Kurz, Partner and Head of Asset Management at GDAM, commented:

"We believe the emerging digital asset class presents compelling growth and diversification opportunities. The CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin."

BIGG Digital Assets Inc. (CSE:BIGG) has announced a strategic investment of $100,000 CAD in DeFi Ventures Inc., the latter of which is described in the press release as "a Vancouver-based company seeking to simplify and streamline access to the assets and technology that power the new era of decentralized finance." Mark Binns, CEO of BIGG Digital Assets, said:

"We are in unique times, as technology and trustless code have set the stage for a more effective means to enable financial products that do not require centralized institutions as intermediaries. Our investment in DeFi Ventures shows our support for an established group of entrepreneurs and our continued leadership in the cryptocurrency sector."

Bluesky Digital Assets Corp. (CSE:BTC) has formalized and completed a new mining hardware order for high hash rate ASIC mining machines totaling $1,000,830 USD. The company's COO, Anthony R. Pearlman, explained:

"This latest acquisition of ASIC mining assets is a very complimentary diversification of mining hardware type and this ASIC focused order will give us a significant horsepower boost to further realize potential increased revenue and profitability with targets like Bitcoin (BTC), while at the same time maintaining a diversified approach and focus on other targets like Ethereum (ETH) with our recently announced large orders of GPU mining hardware. This positive trending market demands we act fast and deliver on efforts at a time while increased revenue and profitability present themselves, we have, and continue to, demonstrate our abilities to do just that!"

Sam Mowers, Investorideas

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