cryptocurrency

Crypto Corner Episode 468: JPMorgan (NYSE: $JPM) Weighs in On Crypto, Bitfarms Signs MOU for South American Electricity, and NetCents (CSE: $NC.C) Provides Update for Crypto Credit Card – InvestorIdeas.com


Point Roberts, WA and Delta, BC – October 26, 2020 (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/2020/102620-CryptoMarket.mp3

Crypto Corner Episode 468, JPMorgan (NYSE: $JPM) Weighs in On Crypto, Bitfarms Signs MOU for South American Electricity, and NetCents (CSE: $NC.C) Provides Update for Crypto Credit Card

SHARE PODCAST:


Get the Crypto Corner Podcast on iTunes

Get the Crypto corner on Spotify

Stocks discussed: (NasdaqGS:PYPL) (NYSE:JPM) (TSXV:BITF) (CSE:NC)

Bitcoin (BTC) has weathered the weekend, more or less maintaining support at or slightly above $13,000 following last week’s bull run. This was, of course, influenced by an announcement from PayPal (NasdaqGS:PYPL) on October 21 that it was debuting a crypto trading service. At press time, the flagship cryptocurrency is trading for about $13,200, according to data from CoinMarketCap.

This recent rise of Bitcoin was addressed in a note dated October 23 from JPMorgan (NYSE:JPM), according to an article from Business Insider. An excerpt from the note reads:

“Cryptocurrencies derive value not only because they serve as stores of wealth but also due to their utility as means of payment. The more economic agents accept cryptocurrencies as a means of payment in the future, the higher their utility and value.”

A further excerpt reads:

“The potential long-term upside for bitcoin is considerable as it competes more intensely with gold as an ‘alternative’ currency we believe, given that Millenials would become over time a more important component of investors’ universe.”

Bitfarms Ltd. (TSXV:BITF) has signed a non-binding memorandum of understanding (MOU) with a private energy producer for the use of up to 200 MW of electricity in South America at an average price of US 2 cents per kilowatt hour. Bitfarms Interim CEO, Emiliano Grodzki, explained:

“As previously announced, during the second fiscal quarter of 2020, Bitfarm’s average cost of electricity to mine a Bitcoin (in USD) was US$5,075. Under the terms of the MOU and under the same prevailing conditions, our cost would have been about half which would be about US$2,538 per Bitcoin before amortization of infrastructure costs. This simple example demonstrates the significant competitive advantage that results from having access to a large amount of low-cost power. At this level, this would make Bitfarms one of the most low-cost Bitcoin miners in the world.”

NetCents Technology Inc. (CSE:NC) has provided an update on the development of its NetCents Cryptocurrency Credit Card, a project for which it had joined the Visa Fintech Fast Track Program earlier this year, and with i2c Inc. as the backend provider. According to the press release, the company has “completed all the technical development needed for the Visa Program launch and is proceeding with the final certification phase during the week of October 26, 2020.” Clayton Moore, Founder and CEO of NetCents, commented:

“i2c is providing technology to the biggest companies in the payments industry. They have developed thousands of software building blocks that can be configured to the many use cases we expect to have for our payment’s ecosystem. They are effectively – “fast-tracking” our fast track with Visa. Our relationship with i2c will facilitate the rollout of our Visa Card from the North American market to the global market in a seamless manner.”

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood, Acorn, Stash and others.

About Investorideas.com – News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns: Crypto Corner, Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change, Exploring Mining the AI Eye.

The Crypto Corner is part of the Investor Ideas Membership content

The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Download our Mobile App for iPhone and Android

Contact Investorideas.com

800-665-0411





READ SOURCE

Leave a Reply