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November 30th, 2020 | 12:12 CET

BIGG Digital Assets, Alibaba, Square: Crypto & Technology - the new empire makers!

  • Blockchain
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Many probably did not expect such a sharp correction. After weeks of rushing upwards, the Bitcoin and the entire crypto market has let off steam. To 25.11.2020 BTC/USD reached its 52-week high of USD 19,480.50, other prominent cryptos like Ethereum, Ripple or Litecoin also stood on new high marks. However, this was probably too big a sip from the bottle, a sell-off shortly before the magic USD 20,000.00 in Bitcoin captured the entire market and led to short-term discounts of up to 50% in the side stages. Bitcoin itself corrected a temporary loss of a good USD 3,000.00 or 15% up to USD 16,300.00. Yesterday, Sunday, however, the weak phase seemed to be over again, and the most popular Internet currency climbed again by 10 percent to USD 18,100.00. If that was the correction, then there are likely still some hot weeks left in the year ahead!

time to read: 4 minutes | Author: André Will-Laudien
ISIN: CA0898041086 , US01609W1027 , US8522341036

Table of contents:

    BIGG Digital Assets - In the eye of the hurricane

    The higher the demand for cryptos, the more the systems of the Canadian security and IT Company BIGG Digital Assets glow. For some time now, the service provider has had its own platform for the crypto trade, Netcoins, with 20,000 active customers. Netcoins will soon be one of the first certified providers in Canada, following official approval by the Canadian authorities. In the area of "fancy currencies", as many Alternative Coins are also called, a reliable platform and a secure "hot wallet", i.e., an online safe for the purchased currencies, is very important.

    Netcoins currently trades only fixed currency pairs that can be converted to Bitcoin and use Balance from Paradiso Ventures Inc. for the safekeeping of all digital assets. However, Netcoins is in the process of migrating this service from Balance to BitGo and expects to complete the full transition before December 15, 2020. Netcoins is migrating this service to BitGo because they have been acting as qualified custodians under the South Dakota Division of Banking since 2018 and have had their own certification since April 2019. Both Balance and its successor BitGo offer an insured wallet, known in crypto jargon as a "wallet". It is one of the most common management and storage solutions for a wide range of digital assets.

    With the recently completed capital increase of almost CAD 7 million, the Company will continue to expand its platforms, while the traditional software business, with security and tracking programs, will continue at a high level. The considerable growth in volume calls for extensive development in control and transparency.

    After a brief consolidation phase up to CAD 0.23, the share price once again picked up speed on Friday, rising a full 15 percent. If the crypto rally continues, BIGG will continue to be swept along by the hurricane. As a speculative investor, one should still be involved here at low prices.

    Alibaba - Going astray with intelligent cars

    Alibaba is often referred to as the "Chinese Amazon", however, this is not entirely correct, because the main business of Alibaba is between store operators and Alibaba itself, so it is a sophisticated B2B approach. At Amazon, of course, there is business with store operators, but here, 92% of the online business is done with private customers.

    The Alibaba Group, like Amazon, is involved in several technological research areas and wants to invest the margins earned from online shopping one step further into the future. Alibaba and its founder, Jack Ma, have become the most active tech investor in China.

    SAIC Motor, China's largest state-owned car manufacturer and General Motors' partner, has set up a private equity fund with the Alibaba Group to finance its advances in the development of smart cars. According to a letter of intent, SAIC Motor would invest 5.4 billion yuan to set up the fund with a total volume of 7.2 billion yuan (around USD 1 billion). SAIC's investment plan and its cooperation with Alibaba are further proof of China's ambition to take the lead in the development of intelligent vehicles worldwide. Active collaboration between car manufacturers and investment-friendly technology giants has already proven effective in Google and Tesla.

    Intelligent vehicles that use a high-speed Internet connection for in-car navigation, information and entertainment are a technological goal that both the US and China want to bring to the road as quickly as possible. As with BIGG, the link between the world of consumption & data is a pillar of future development at Alibaba. The Alibaba share has so far gained 19% in 2020 and has a market capitalization of EUR 625 billion.

    The Square - Cryptos inspire mobile payments

    Rising rates with cryptocurrencies such as Bitcoin and Ether & Co. let the cash registers with the American mobile Payment offerer Square Inc. ring properly. In the last quarter, sales grew by a whopping 140% to more than USD 3 billion, with the cash app accounting for two-thirds of this. It is precisely this app that is primarily driven by the dynamic development of the cryptocurrency Bitcoin.

    Square's Cash App is a peer-to-peer payment app that can be used to trade shares or tokens such as Bitcoin. Square plans to invest aggressively in the Cash App as consumer numbers grow. Like many technology developers, Square is still in its infancy in handling different cryptocurrencies. With over 7,800 electronic coins, Square wants to focus on the most relevant, as all alternative coins together are not likely to reach the same turnover of the 3 largest representatives.

    With the highly flexible Cash App, Square is now able to expand into regions where PayPal Holdings Inc. has been the top dog so far. But PayPal already offers its own digital payment app with Venmo to get the competition off their backs. While the Cash App is more prevalent in southeastern states, Venmo is mainly preferred by users in coastal states such as New York and California. It will be interesting to see which of the technology giants will win the race for the digital dollars. As far as the market is concerned, Square has taken the cake for the year winning 186%, but PayPal is doing well with 81%. Both figures should be able to continue to rise in the next NASDAQ rallye.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.

    Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.

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    Der Autor

    André Will-Laudien

    Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.

    About the author

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