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Crypto Corner Podcast 616: Stocks discussed: (NasdaqGS: MSTR) (NasdaqGS: BITF) (CSE: LYNX)

Point Roberts, WA and Delta, BC – June 22, 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/2021/062221-CryptoMarket.mp3

Crypto Corner Podcast 616: Stocks discussed: (NasdaqGS: MSTR) (NasdaqGS: BITF) (CSE: LYNX)

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Stocks discussed: (NasdaqGS:MSTR) (NasdaqGS:BITF) (CSE:LYNX)

Since yesterday’s Crypto Corner, Bitcoin (BTC) has fallen further still, reaching a low this morning of $28,893 – its lowest since December 2020 – according to data from CoinMarketCap. It has, however, since recovered somewhat, and is trading for about $31,300 at press time.

An article from Cointelegraph by Mumbai-based financial analyst Yashu Gola today posits that the current sell-off in the crypto market may be based on “miner capitulation in China.” Previously discussed in Crypto Corner, Chinese authorities have recently cracked down on the exchange of cryptocurrencies – coincident with the implementation of China’s own digital yuan – and in particular curbed Bitcoin mining in the country. Gola’s article cites data from blockchain analytics source Glassnode, that indicates a “seismic mining shift” taking place in China, wherein “many miners are in the process of either shutting down or migrating their hash power outside China to comply with the mining ban.”

Michael Saylor, CEO of MicroStrategy Incorporated (NasdaqGS:MSTR), which yesterday purchased about 13,005 bitcoins for roughly $489 million in cash, tweeted in response to news of crypto mining firm Bitfarms’ listing on the Nasdaq (NasdaqGS:BITF):

In the last twelve months, #Bitcoin has arrived on Wall Street. That is the news. The rest is noise.

MicroStrategy’s current aggregate holdings of 105,085 bitcoins were acquired at an aggregate purchase price of approximately $26,080 per bitcoin. This means, of course, that with today’s low being only a few thousand USD higher than that average, the company is getting closer to breaking even.

Lynx Global Digital Finance Corporation (CSE:LYNX) has announced that its flagship acquisition, Direct Agent 5 Inc., a facilitator of cash in/cash out transactions inclusive of remittance, forex, and cryptocurrency, has processed a total transaction volume of $200 million since the beginning of 2021. Michael Penner, CEO of Lynx Global, said:

“If one wishes to transact whether by card, cash or cryptocurrency, and whether mobile, online or in person, we have a simple and effective solution. We look forward to continuing to expand our network as we move it towards fulfillment of the realization of our overall goal to continually improve business and cost efficacy through the introduction and facilitation of cutting-edge financial technology solutions.”

Sam Mowers, Investorideas

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