Point Roberts, WA and Delta, BC – June 14, 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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Crypto Corner Podcast 610: Stocks discussed: (NasdaqGS: $TSLA) (NasdaqGS: $MSTR) (CSE: $BTC.C)
Stocks discussed: (NasdaqGS:$TSLA) (NasdaqGS: $MSTR) (CSE:BTC)
Bitcoin (BTC) is off to a green start this week with growth around 14 percent in the last 24 hours, about the same amount it is up since last Monday, according to data from CoinMarketCap. Bitcoin is trading for roughly $40,850 at press time, which is the first time it has been above $40K since May 27th. This current rally was almost certainly, at least in part, a reaction to an Elon Musk tweet yesterday, clarifying Tesla’s (NasdaqGS:TSLA) future with regard to Bitcoin payments. In particular, Musk was responding to a tweet from Cointelegraph, which quoted Sygnia CEO Magda Wierzycka, referring to Musk, saying:
“What we have seen with Bitcoin is price manipulation by one very powerful and influential individual.”
Musk replied with:
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
The New York Post reports that San Francisco-based crypto exchange giant Coinbase (NasdaqGS:COIN) is setting up its first office in New York City. The company has “quietly subleased 30,000 square feet from Steven A. Cohen’s Point72 Asset Management at Related Co.’s 55 Hudson Yards,” – and area that “has been mostly known for corporate, media and law tenants,” according to sources.
MicroStrategy Incorporated (NasdaqGS:MSTR) has announced the closing of its previously announced offering of senior secured notes due 2028 for $500 million USD at an annual rate of 6.125 percent. The company estimates that net proceeds from the sale of the notes and the related guarantees will be around $488 million, an amount it intends to use to acquire additional bitcoin.
Bluesky Digital Assets Corp. (CSE:BTC) recently released a summary of its Unaudited Q1, 2021 Interim Financial Statements for the three months ended March 31, 2021. Key highlights include a Total Gross Revenues increase to $743,267 CDN in Q1, 2021 from Digital Assets Mining operations, up from $101,611 CDN in Q1, 2020, and making for a growth of 631 percent. However the company reports that losses increased to -$1,263,233 in Q1, 2021, from -$371,735 in Q1, 2020, an increase of 240 percent.
Sam Mowers, Investorideas
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