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Argo Blockchain share price jumps on rumours of second listing on Nasdaq

Argo Blockchain Share Price

The Argo Blockchain share price (LON:ARB) is surging on Friday following a prolonged slump that began in the middle of February. As rumours circulated on Twitter that Argo Blockchain will go ahead with a secondary listing on the Nasdaq, the bitcoin miner’s share price climbed, and is now up by 18.32% at the time of writing.

Secondary Listing

Bitcoin mining firm Argo Blockhain, listed on the London Stock Exchange (LSE) at present, is weighing up a secondary listing on Nasdaq.

The London-based miner revealed the plan Tuesday, adding that no decision has been made whether to go ahead. The company said that “there is no guarantee that the listing will be finalized,” while, “any proposed listing is subject to market and other conditions, and there can be no assurance as to whether or when the proposed listing may be completed.”

Argo also confirmed it mined 167 bitcoin last month, up by one from May.

Bitcoin

It is no secret that bitcoin has been struggling to regain momentum following a crash that happened in May. Investors in the Argo Blockchain share price will be hoping for better news for the cryptocurrency following the Chinese government crack down which helped its price to tumble. Bitcoin dropped below £23,000 on Friday morning before climbing back above the mark into the afternoon.

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One piece of news that could act as a catalyst for a surge in the price of bitcoin is Apple announcing that it is buying the cryptocurrency. Similar to talks of a second listing on the Nasdaq, rumours have been aplenty on social media regarding a potential announcement by Apple that it is holding bitcoin. However, at this stage, while there have been no official statements, it is mere speculation.

Having said that, Apple has previously posted a vacancy requiring a business development manager who can handle ‘alternative payments’. Apple co-founder Steve Wozniak referred to bitcoin as digital gold and said it was a ‘mathematical miracle’. He also said that while he does not invest in it, he considers it to be the future.

Investors will keeping a close eye on how Apple, and other major corporations approach bitcoin in the coming months. Any major moves could further impact the Argo Blockchain share price.

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