BitDigest December 17 · Issue #806
Dec 17, 2020
Author
- Bitcoin breaks $23,000 to lead crypto market cap above $650 billion before pulling back in early morning hours
- Germany eliminates need for ‘paper’ securities
- Massachusetts regulators claim Robinhood does not provide enough investor protection
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- The Bitwise 10 Large Cap Crypto Index (OTCQX: BITW) was the best performing stock this week returning 364%.
- Riot Blockchain (NASDAQ: RIOT) announced a 8MW pilot cool project in Texas
- Marathon Patent Group (NASDAQ: MARA) filed a prospectus to issue up to $200 million in new stock.
- 3iQ’s new Ether Fund (TSX: QETH.U) has been added to the week tracking list.
- Galaxy Digital Holdings (TSX: GLXY) publicly traded bitcoin fund, CI Galaxy Bitcoin Fund (TSX: BTCG.U), closed up 1% in its first day of trading.
- Miner BitDIgital (NASDAQ: BTBT) was this week’s sole laggard returning negative 11%.
- Bitcoin’s 14.9% 7-day return underperformed the market compared to the equity mean return of 48.8% and median of 25.1%.
Dear Exchanges,Please Improve Your Platforms. Bitcoin is Expected to Continue its Upward Trend.
🅱️A Reuters’ headline yesterday read “Crypto exchange Coinbase hit by tech trouble as bitcoin breaks $20,000 for first time.” Binance also reported difficulties as the digital exchange experienced scaling problems.
I continue to be surprised by these reoccurring headlines. Each time bitcoin makes a major move, the large exchanges seem to have technical issues. As an industry, we need to build the necessary infrastructure to eliminate these errors or crypto will continue to be overlooked as a significant marketplace.