The Globe and Mail reports in its Wednesday edition that H.C. Wainwright analyst Kevin Dede is positive on crypto currencies. The Globe's David Leeder writes that Mr. Dede believes many North American crypto miners are "poised to pounce." He notes that "massive" investment are being made in the sector. In a report released Tuesday, he began coverage on Hive Blockchain Technologies ($3) with a "buy" recommendation. Mr. Dede set a share target of $4. Mr. Dede believes as much as $2-billion "in capital has been raised by publicly-traded North American based crypto mining operators, or to support N.A. mining operations, over the past 18 months." He calls the figure staggering." He says it is now a "widespread belief that crypto, and bitcoin in particular, functions at the very least as a store of value." He adds, "With the surge in bitcoin's importance, comes a surge in sourcing it, and crypto mining has moved to mainstream industrialization." The Globe's guest columnist Michael Pe said in the Number Cruncher column on Jan. 19 that Hive Blockchain, among others, was showing "strong price momentum." The shares could then be had for $2.94. The shares climbed to an all-time high of $7.25 the following month.
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