Marathon Patent (NASDAQ:MARA) stock is on the rise Wednesday following news from the crypto mining company.
In a news release, Marathon Patent reveals details from its new investor presentation. This has it mentioning its balance sheet, which includes $24.6 million in cash and no debt. The company also notes it’s moving forward with its growth strategy.
According to the Marathon Patent news release, the crypto company is set to reach full capacity in the second quarter of 2021. This will allow it to produce between 15 and 20 bitcoins per day at a cost of $3,863 per bitcoin.
Marathon Patent notes that this will allow it to generate $8.8 million in revenue per month. That should set it up for $6.7 million in gross profit per month. These numbers are based on a bitcoin price of $16,000.
Merrick Okamoto, CEO of Marathon Patent, said this about the crypto news.
“Due to the substantial progress we’ve made in the past few months scaling the business and improving our financial position, we thought it was appropriate to disclose more pertinent operational and financial metrics subsequent to publishing our third quarter 2020 results.”
Marathon Patent’s investor update comes as the price of bitcoin has continued to rise. Analysts believe there’s a chance bitcoin could race as high as $318,000. That’s been a boon for other mining companies as well. Also, it’s pushing other cryptocurrencies up at the same time.
MARA stock was up 5.2% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
William White, InvestorPlace Writer
Firms in Japan Consider Launching Common Private Digital Currency
The testing phase will see private banks in Japan fully in charge of issuing private digital currency.
Following the recent announcement that Japan would launch its Digital Yen in around April 2021, 30 firms based in the country have sought to follow the approval of the regulatory body on digital currency to launch a separate private digital currency. The private digital currency expected to be tested in 2021 is meant to lead the evolution of digitization in the country.
Financial Technology has been in the advanced stage globally with several economic superpower countries considering the introduction of such to accelerate the much anticipated cashless world.
According to the report, the firms that engineered this idea are utility and retailers, telecommunication, brokerage, and three of Japan’s biggest banks. The group is chaired by the former Bank of Japan Executive Hiro Yamaoka. According to him, Japan has over the years seen the introduction of several digital platforms that are not big enough to overtake cash payment. In this case, they intend to come out with a platform that will be mutually compatible with the already existing ones.
The testing phase will see private banks fully in charge of issuing private digital currency.
The group clarified that there may be possibilities of other firms or entities being mandated to issue the private digital currency.
The rising adoption rate of private digital currency or payment platforms has been very impressive in Japan with three megabanks boasting of their initiatives.
Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui Financial Group Inc have already launched their payment platforms. Japan has been said to have a favorable atmosphere for the emergence of digital platforms since they remain incompatible as they compete. This is unlike other countries where only a few emerge as the dominant force of the financial market. Japan currently has a cashless payment of 20% out of the total Payment settlement. Though this is far below the 70% of China and 45% of the US, Japan has shown a positive response to the cashless system that is taking the country by storm in the beginning stage.
The private digital currency yet to be introduced by the Japanese firms may have companies and households as the potential users just like the Digital Yen. However, the Digital Yen is meant to complement the digital economy. The BoJ explained that the Central Bank Digital Currency would be issued into the system when there is a future drop in circulation.
The CBDC is currently being observed by several countries with the likes of South Korea, France, and Sweden testing it for possible use. China has currently surpassed the development phase and in the mass testing phase.
The private digital currency to be launched by the Japanese firms is expected to influence others to take the financial technology ecosystem in the country more seriously.
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Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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How First Time Investors Should Choose The Best Crypto Android App
Most people think of investing when they plan for financial independence. If you are new to investment, you should first know about the different options available. It has become efficient and convenient to invest due to the development of mobile apps. Moreover, mobile application tools and features allow you to research and analyze the market data effectively.
If you go to the play store, you will find several investing applications. Some applications allow you to invest in various investment assets such as stocks, currencies, commodities, even in cryptocurrencies. If you want to start investing in digital currencies, here is how to choose the best crypto android app.
When you search for “Crypto Android App,” you will find various apps in the play store. Some apps provide you with the latest updates of the crypto market, and others allow you to store, transfer, and spend cryptocurrencies.
There are also crypto trading and mining apps, but the crypto mining apps are very few, which you need to download from third-party sites. In case you want to become a crypto-miner, visit bitcoin code about crypto mining apps. Now follow the five steps to choose the best crypto android app.
As you want to invest in cryptocurrencies, you will need two or three apps, such as a news app, a wallet app, and a trading app. You can also choose an app that offers all the features in one app. So let us discuss a little bit about different types of apps in brief.
- Crypto News App: This type of app will give you the latest updates, and even some news apps offer price tracking of popular cryptocurrencies.
- Wallet App: These apps are useful for the transfer of cryptocurrencies, shopping, and some wallets that also allows you to exchange with other crypto coins.
- Trading App: The trading application offers you information about the trade market and shows you a graphical representation of the price fluctuation. This helps the traders and investors to make their investing decisions.
In my opinion, you should choose a basic information app that will help you to learn about different cryptocurrencies. The best option will be to choose an app that has all the above-mentioned features.
The second step for choosing the best crypto android app is to check the legitimacy. You can read reviews of these apps from different sources. You can also do a background check by researching the people supporting the app. There are many genuine crypto communities where you can find the right information and discuss it with them. It will stop you from falling into the trap of cybercriminals who develop fake apps.
A study claimed that most of the crypto android apps have security vulnerabilities. That means the majority of the apps are using outdated security features. Thus, hackers can easily get through security layers to your essential information, such as your account details and private key.
Hence, you need to analyze the safety and security concerns of the app. Choose an app that offers 2-factor authentication or more advanced security features.
Next, you need to consider the features it offers to analyze the market price or perform any transactions. Check whether the interface is user-friendly and easy to navigate or not.
Last but not least, you should compare the pricing of different crypto apps. As you are a beginner, it’s better to start with an app that offers free services. Once you require more features, you can upgrade to premium apps.
Everybody knows that investing is risky, but remember cryptocurrencies involve high-risk with high returns. You should invest the amount that you can afford to lose because the chances are higher that you may lose all your capital.
Was this article helpful? What do you have learned from this? Don’t forget to comment down below.
Bloomberg Chart Crypto ETP Comparison
Bitcoin growing over the Exchange
Demonstrates growing institutional preference for cryptocurrency ETPs
19 November 2020 – Zurich – Bitcoin’s meteoric price rise in 2020 (YTD +153.3%), a performance not seen since November 2017, demonstrates growing acceptance and investment preference by professional and institutional investors in Europe. Q3 inflows from buy-side institutional managers across 21Shares’ suite of crypto ETPs in Q3 particularly from its Bitcoin ETP (ABTC:SW – 21XB:GR) have more than doubled since August 2020.
21Shares, the Swiss crypto ETP issuer accredited with listing the first crypto basket HODL has now achieved US$150m in AuM(Asset under Management) outperforming the vast majority of managed crypto funds.
With the iconic listing of the world’s first crypto HODL basket ETP in November 2018 on the SIX Swiss stock exchange, 21Shares AG opened a new world of digital assets to conventional investors, while utilizing a conventional product wrapper already well-accepted by institutional investors. Over the last 15 months, the Swiss issuer has added a total of eleven crypto ETPs on seven new stock exchanges in Switzerland and the EU, key highlights in 2020 including listing Bitcoin (21XB) and Ethereum (AETH) on the regulated segment of Deutsche Boerse XETRA and the Vienna Stock Exchange.
In 2020, growing institutions’ interest came primarily from the United States. Tudor Investment Corporation, Square and MicroStrategy are amongst the first large US institutions to publicly allocate capital to Bitcoin followed by the announcement from PayPal in Q3 2020, the largest bank in terms of accounts (not assets) in the world, to offer Bitcoin to their client base. These investments have already delivered noteworthy returns (even if not yet realised).
“We have seen a growing appetite amongst Swiss and European based asset managers, Family Offices, hedge funds and private banks for an institutional-grade ETP providing access to bitcoin and other cryptocurrencies this year.” says Hany Rashwan CEO of 21Shares. “Our fully collateralized, regulated crypto ETPs have been well received and the inflows to date show the trust placed in us by these institutions. We reached USD 100 million in AuM in mid-August growing from quality institutional demand that has pushed us past the USD 150 million mark. It’s worth noting that we are still at the beginning with institutional investors across Europe accessing cryptocurrencies via ETPs and we expect this shift to continue growing and speeding up in 2021 and beyond. We are well placed to provide institutional-grade products for this institutional demand.”
The pioneering Swiss issuer has been at the forefront of innovation in the digital asset space, narrowing the gap between the traditional and new financial world by providing institutional investors globally with a secure, transparent, and regulated way to gain exposure to the otherwise unregulated crypto market. In addition to the overwhelming popularity amongst institutional investors, demand for the eleven 21Shares crypto ETPs amongst retail clients is also rising fast especially as they can now purchase these products from their preferred and well-known European and Swiss online brokers including Swissquote, Saxobank, Scalable, Comdirect and many others.
21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security, cost effectively thanks to the 21Shares suite of ETPs launched by 21Shares and now composed of 11 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL:SW), 21Shares Bitcoin (ABTC:SW 21XB:GR), 21Shares Ethereum (AETH:SW), 21Shares XRP (AXRP:SW), 21Shares Bitcoin Cash ETP (ABCH:SW), 21Shares Binance ETP (ABNB:SW), 21Shares Tezos ETP (AXTZ:SW), 21shares Bitcoin Suisse ETP (ABBA:SW), 21Shares Bitwise 10 ETP (KEYS:SW), Sygnum Platform Winners Index ETP (MOON:SW) and 21Shares Short Bitcoin ETP (SBTC:SW 21XS:GR). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich, Berlin and New York, the company has launched several world firsts, including the first listed crypto index (HODL) in November 2018. 21Shares has 11 crypto ETPs listed today and has over $150 million in AuM in total listed products.
Press Contact Laurent Kssis +41 44 260 86 60 press@21Shares.com
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States.This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. 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The approval of the 2019 Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2019 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand. This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.This document constitutes advertisement within the meaning of the Swiss Financial Services Act (the “FinSA”) and not a prospectus. In accordance with article 109 of the Swiss Financial Services Ordinance, the Base Prospectus dated 13 November 2019, as supplemented from time to time (the “Base Prospectus”) and the final terms for SBTC dated 22 January 2020 (the “Final Terms”, and together with the Base Prospectus, the “Prospectus”) have been prepared in compliance with articles 652a and 1156 of the Swiss Code of Obligations, as such articles were in effect immediately prior to the entry into effect of the FinSA, and the Listing Rules of the SIX Swiss Exchange in their version in force as of January 1, 2020. Consequently, the Prospectus has not been and will not be reviewed or approved by a Swiss review body pursuant to article 51 of the FinSA, and does not comply with the disclosure requirements applicable to a prospectus approved by such a review body under the FinSA. Copies of the Prospectus are available free of charge from the website of the Issuer. Subject to applicable securities laws, the Base Prospectus and the final terms of any product mentioned herein can be obtained from 21Shares AG on the website. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
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i2c Selected by Leading Crypto Innovators to Power Payments Globally