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Crypto Corner Podcast 551: Stocks discussed: (NYSE: $MS) (NasdaqGS: $FTFT) (TSXV: $DMGI.V) (CSE: LNK) (NasdaqGS: $BTBT)

Bitcoin Grazes $60K Again, Morgan Stanley to Offer BTC Funds for Wealthy Clients, Future FinTech to Form JV with Shenzhen SOSOB, DMG Adopting BTC Accumulation Strategy, and Link Global Expands Profit Sharing Mining Operations

 

Point Roberts, WA and Delta, BC - March 18, 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.

Crypto Corner Podcast 551: Stocks discussed: (NYSE: $MS) (NasdaqGS: $FTFT) (TSXV: $DMGI.V) (CSE: LNK) (NasdaqGS: $BTBT)

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Stocks discussed: (NYSE:MS) (NasdaqGS:FTFT) (TSXV:DMGI) (CSE:LNK) (NasdaqGS:BTBT)

Bitcoin (BTC) again grazed $60K yesterday, reaching as high as about $59,400 according to data from CoinMarketCap, before dipping earlier this morning to a trading price of about $55,000 at press time. Bitcoin peaked at around $61,680 last Saturday, it's current all-time high trading price, but by Monday had taken a downward turn, bringing it to a weekly low of roughly $53,500 that same day.

CNBC reports that investment banking giant Morgan Stanley (NYSE:MS) has become the first big U.S. bank to offer its wealth management clients access to bitcoin funds. An internal memo to its financial advisors on Wednesday indicates that it is launching access to three funds which enable ownership of bitcoin, according to "people with direct knowledge of the matter." At least at first, however, access will be limited to clients with "an aggressive risk tolerance" who have at least $2 million in assets held by the firm.

Blockchain e-commerce and fintech service provider Future FinTech Group Inc. (NasdaqGS:FTFT) signed a Strategic Cooperation Agreement with major shareholders of Shenzhen SOSOB Technology Co., Ltd. to form a joint venture called FTFT Capital (Dubai) Limited, described as "an entity formed to provide services and solutions in the global digital currency business." Shanchun Huang, CEO of Future FinTech, said:

"Our objective is to build a company of significant value by creating new content and capturing market share through the application of blockchain technology in financial service markets including digital wallet safety management, blockchain code auditing and operations, and maintenance services. We believe that SOSOB's digital currency market data information service, analysis capabilities, diversified financial services and multilingual services will serve as a catalyst to introduce new advisory services for blockchain-based financial asset products."

DMG Blockchain Solutions, Inc. (TSXV:DMGI) has announced that its Board of Directors has approved, along with its self-mining, to incorporate a Bitcoin accumulation strategy to significantly increase its Bitcoin treasury holdings. DMG has started buying Bitcoin, in purchases of about 220 BTC, with the intention of doing so periodically, "based on market conditions, trends and corporate opportunities."

Link Global Technologies Inc. (CSE:LNK) is expanding its profit-sharing Bitcoin mining operations with Bit Digital, Inc. (NasdaqGS:BTBT), wherein the latter will host an additional 515 machines. This adds to the 1,000 Bitcoin mining rigs it is hosting under the profit-share mining partnership, adding "over 100 PH/s to the current 250 PH/s managed by Link through power purchase agreements, hosting contracts, profit-share arrangements, and miners owned by Link."

Sam Mowers, Investorideas

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