CryptoCann™ Report: Square CEO Jack Dorsey sees Bitcoin as the internet’s single currency; Wall Street gets high on Tillray

The Crypto Report

With cryptocurrencies in free-fall Tuesday, those looking for bargains can now buy Bitcoin anywhere, anytime, in all 50 states.

Square Inc (NYSE:SQ) has added functionality to buy Bitcoin on its Cash App effective immediately. 

CEO Jack Dorsey has long been bullish on Bitcoin’s future, having added Bitcoin purchase and sale options last year.

“The internet will have a single currency. I personally believe that it will be bitcoin,” Dorsey said.

The stock shares added about 3% to US$74.62 in afternoon trading.

On the technological side, a global financial giant is the latest see the possibilities of blockchain, the engine that Bitcoin and other cryptocurrencies run on. The World Bank is rolling out the first-ever digital finance bond, called Bond-I, which will be issued entirely using blockchain technology, according to a report by Analytic Insight.

The two-year “Blockchain Bond” will be managed by the Commonwealth Bank of Australia. Bond-I is an acronym for Blockchain Offered New Debt Instrument and it will be issued and distributed on a blockchain platform that runs on an on a private Ethereum network managed and operated by the CBA and the World Bank.

The ‘Cann Report

Wall Street is getting high on the Nasdaq’s first publicly traded cannabis company, Tilray Inc (NASDAQ:TLRY).

Analysts at Cowan & Co and Roth Capital both initiated coverage of the shares today with Buy ratings or the equivalent.

Cowen’s Viven Azer rates the stock an Outperform and has a US$34 price target, citing the company’s partnership with private-equity firm Privateer and its association with Leafly, a cannabis review website.

READ: Tilray shares still climbing in wake of its public Nasdaq debut

“We think Tilray has a defensible position to capture initial adult use market share,” Azer wrote in a note obtained by Green Market Report.

Meanwhile, Roth’s Charles Finnie started coverage with Buy rating and a US$35 target, according to a note obtained by TheFLy.com. He focused in on the company’s product quality and cultivation expertise to competitors. He also expects revenue to grow at a 40% clip over the next three to five years.

Shares jumped 3.7% to US$25.69 in afternoon trading in New York.

Story by ProactiveInvestors