The global economy and coronavirus connection |
| | | | BEYOND BITCOIN Crypto & More |
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Happy Monday! Over the last seven days, these headlines caught our eye:
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| Trump & Bloomberg Playing In The Regulatory Sandbox
Virgin Galactic Stock Is Mooning
Alex Jones On The ‘Power Of Fire’ From The Gods
50, Snoop And Talib All Bought The Dip
China Quarantines Banknotes
Gold Pumps & Dow Dumps
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| | Regulatory Developments in the U.S
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| | | Virgin Galactic Stock up 300% in 3 months
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| Virgin Galactic, the space arm of Richard Branson’s empire, has been on a crazy rally recently. The company’s stock (NYSE: SPCE) jumped over 23% on Wednesday, closing at a new record high of $37.35 after its best day of trading ever.
It has since retraced slightly, closing trading Friday at $33.87, but it’s recent rise had investors drawing comparisons not only to SpaceX but another Elon Musk creation – Tesla. Read more
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| | "I don’t like infighting" - Alex Jones
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| Alex Jones compared Bitcoin to a "power of fire" gifted from the gods to humankind. The bold commentary took place in the context of a Max Keiser interview, in which the Keiser Report host declared a new $400,000 target for bitcoin. The two discussed the freedom-forged properties of the permissionless money, the global economy, and the coronavirus connection.
Read more
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| | | 50 Cent, Snoop Dogg and Talib Kweli all sold albums for BTC, but when cryptocurrency prices skyrocketed, 50 Cent told the public he sold his coins as soon as he got them. Many other celebrities from Hollywood and the music industry have used digital assets to help bolster their marketing efforts. Are these celebs sitting on stacks of digital cash?
Read more
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| | UV Light & High Temperatures to Disinfect Yuan
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| China is currently combating the coronavirus which has killed more than 1,500 people and infected more than 66,000 people in the country. The government is now scrubbing and quarantining banknotes to stop the spread of the deadly virus by touching the bills. The central bank, the People’s Bank of China (PBOC), explained that banks use ultraviolet light or high temperatures to disinfect yuan bills. They are then sealed and stored for seven to 14 days, depending on the severity of the outbreak in a particular area, before being recirculated.
As for the impending launch of a central bank digital currency, the PBOC has reportedly filed 84 patents relating to its digital yuan.
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| | 7 Year Gold Highs & the Dow Falls off a Cliff
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| It was quite a week for the markets as Gold continued to trend upwards, seeing seven-year highs, approaching the $1648 mark this week. But it wasn’t all good news for the financial markets as the Dow Jones Industrial Average (DJIA) suddenly Dow Jones Industrial Average (DJIA) suddenly and somewhat inexplicably crashed 400 points, leaving investors looking for answers.
Buying precious metals with crypto
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