Point Roberts, WA and Delta, BC – June 11, 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:
Crypto Corner Podcast 609: Stocks discussed: (NasdaqCM: RIOT) (CSE: GBLC)
Stocks discussed: (NasdaqCM:RIOT) (CSE:GBLC)
Readers will recall the news from Wednesday’s Crypto Corner that El Salvador had voted to adopt Bitcoin (BTC) as a legal tender. On that subject, Investorideas.com received commentary from Joe DiPasquale, CEO of BitBull Capital:
“Will it start a new trend where world governments will want to consider Bitcoin more seriously? Paraguay, another country considering BTC adoption may agree, but it is too soon to make such an assessment. What it will do, however, is give Bitcoin a testing ground to perform as a legally acceptable monetary medium for settling debts.
Up until now, BTC has been used more as a store of value and an alternative investment instead of a medium of exchange. In a year or so, perhaps usage data from El Salvador could shed more light onto Bitcoin’s public acceptability and ease of use.
Meanwhile, what this move does tell us is that smaller economies are actively seeking ways to generate wealth, be it in the form of taxes, remittances or investments. Bitcoin and digital currencies as a whole fit into this narrative for most, and present untapped opportunities to boost economic growth and provide both governments and citizens ways to benefit from this upcoming paradigm shift.
Countries where access to financial services is low, such as El Salvador, stand to benefit the most from crypto adoption and increasing inclusion for the masses. Once these countries adopt crypto and are able to show the benefits of said adoption, we can expect bigger economies to start experimenting with crypto assets as well.
For now, even if El Salvador’s adoption announcement ends up being a drop in the ocean, it stands as a big first for Bitcoin.”
Riot Blockchain (NasdaqCM:RIOT) has reported its May production and operational updates. Highlights include the production of 227 BTC for the month, up about 220% over its May 2020 production of 71 BTC. The report also notes the shipping of 1,000 S19 Pro Antminers (110 TH) in late May, the installation of which is expected to be completed in Q2 2021. The company also plans to “immediately commence further development of additional capacity” at the Whinstone mining facility in Rockdale, TX, which it completed acquiring on May 26, “in order to rapidly bring the property to its current capacity of 750 MW.”
Graph Blockchain Inc. (CSE:GBLC) has closed its acquisition of all of the shares of Crypto Launchpads service provider Beyond the Moon Inc. Crypto Launchpads, as described in the press release, are “crypto projects designed to help upcoming projects reach their full potential and mainstream adoption.” Graph Blockchain CEO Paul Haber said:
“Graph’s acquisition of Beyond the Moon gives our shareholders exposure to quality Initial DEX Offerings and early adoption of new crypto tokens. By adding Beyond the Moon to our group of companies, we gain access to even earlier rounds of any upcoming token presales to add value to Graph’s portfolio of altcoins.”
Sam Mowers, Investorideas
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