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Crypto Corner Podcast Episode 607: Stocks discussed: (NasdaqGS: MSTR) (CSE: BIGG) (CSE: BCFN)

El Salvador Adopts Bitcoin as Legal Tender, Microstrategy Ups Pricing of Senior Note Offering to $500M, and BIGG’s Blockchain Intelligence Group Partners with Blockchain Foundry

 

Point Roberts, WA and Delta, BC - June 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.

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https://www.investorideas.com/Audio/Podcasts/2021/060921-CryptoMarket.mp3

Crypto Corner Podcast Episode 607: Stocks discussed: (NasdaqGS: MSTR) (CSE: BIGG) (CSE: BCFN)

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Stocks discussed: (NasdaqGS:MSTR) (CSE:BIGG) (CSE:BCFN)

El Salvador has become the world's first country to approve Bitcoin (BTC) as a legal tender. According to Reuters, the country's Congress voted in favour of President Nayib Bukele's proposal to adopt the cryptocurrency. The new legislation, which received 62 out of 84 possible votes, ensures that Bitcoin's use as legal tender will go into law in 90 days, whereupon it "must be accepted by firms when offered as payment for goods and services." Richard Galvin of crypto fund Digital Asset Capital Management, said:

"The market will now be focused on adoption through El Salvador and whether other nations follow. This could be a key catalyst for bitcoin over the next two to three years."

In the past 24 hours, following news of its adoption in El Salvador, Bitcoin's trading price has grown about nine percent, according to data from CoinMarketCap. At press time it is trading for roughly $34,715 USD.

MicroStrategy Incorporated (NasdaqGS:MSTR) announced yesterday that it was increasing the pricing of its offering of senior secured notes - originally reported on Monday's Crypto Corner - from $400 million to $500 million. The business intelligence firm estimates net proceeds from the sale of the notes and the related guarantees to be about $488 million, which it intends to use to acquire more bitcoin.

Blockchain Intelligence Group (BIG), a subsidiary of BIGG Digital Assets Inc. (CSE:BIGG) has announced a partnership with Blockchain Foundry Inc. (CSE:BCFN) to launch a combined product offering to create scale, transparency, and security for stablecoins. This will involve the integration of BIGG's BitRank Verified® and QLUE™ into Blockchain Foundry's on-chain compliance solution and wallet to wallet transaction monitoring capabilities. Blockchain Foundry's CTO, Jag Sidhu, explained:

"We are creating the tools needed for adoption and enablement of stablecoins, commodity based digital assets and digital security tokens operating on public permission-less settlement ledgers through the oncoming and pending regulatory frameworks. Through the use of QLUE and BitRank® offerings we can not only allow for issuers to react to situations requiring regulatory actions but for the first time on a public ledger become preventative to enable compliance in the same ways that traditional financial transfers take place all while the users hold their tokens in their own digital wallets."

Sam Mowers, Investorideas

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