Hello dear readers,
The world seems to be spiraling into chaos. Recent events have ranged from an assassination attempt on Donald Trump, who fortunately only sustained minor injuries, to President Biden’s repeated confusion between the names of the Ukrainian President and the Russian President. Meanwhile, Germany is offloading its Bitcoin reserves at rock-bottom prices, and the EU has reportedly offered Elon Musk a secret deal to avoid a potential fine concerning X, in exchange for controlled audits. Government interventions in free speech and the demonization of other democratic forces have reached unprecedented levels of absurdity. The mainstream media has never appeared as manipulated as it is today. It’s time for a global shift, one that empowers individuals to form their own opinions without fear of being demonized. The war-mongering must end, as it ultimately serves only to secure the next level of capitalism at the expense of the common people. The wave of bankruptcies sweeping through the middle class is reflected in record numbers.
Once it was clear that Donald Trump was in good health, Bitcoin bounced back to over $60,000. Institutional investors had already stocked up with an additional 100,000 BTC the previous week. Projections indicate that the number of crypto investors could triple by 2026. It remains to be seen if Donald Trump will speak as planned at Bitcoin 2024 from July 25 to 27. He appears to be emerging as a supporter of cryptocurrency. Fidelity has even made a bold statement, suggesting that Bitcoin could potentially reach one billion USD by 2038. Fidelity!!!
The US stock markets and Jerome Powell are on top of the hill! During his semi-annual testimony at the Capitol, which raised hopes for a potential interest rate cut in September, US stocks continued their record rally, climbing to new heights. However, Warren Buffett’s crash indicator is at an all-time high, and Morgan Stanley’s Mike Wilson warns of a double-digit market correction. Yet, we’ve been hearing this for months.
Short sellers, through the bond king Bill Gross, attempted to talk Tesla down to meme stock status. This only worked for a day before Tesla’s stock surged again. Tesla is one of the most quintessentially American stocks on the market, and some experts believe that Tesla’s stock swings could potentially wipe out a large number of short sellers. Never bet against Tesla, they say. Unfortunately, Bill Gross’s substantive comments are highly unqualified. Investors should take a closer look at Tesla’s “Optimus” project. Morgan Stanley projects about 8 million humanoid robots by 2040. Given Tesla’s and xAI’s advanced work in AI and robotics, we can expect much more from Tesla than just cars. Morgan Stanley reaffirmed their overweight rating on Tesla shares in a report, with a price objective of $310.00. Tesla is currently trading at $248. ARK Invest’s updated open-source Tesla model yields an expected value of $2,600 per share by 2029.
Then there’s Nvidia, with some analysts expecting the company to reach a valuation of up to $10 trillion by 2030. It remains unclear how much AI, humanoid robots, and other autonomous systems will catapult stocks like Nvidia and Tesla to extreme heights. Many people are whispering behind closed doors that we are still far from the foreseeable highs. UBS raised its price target for Nvidia to $150, while a hedge fund manager expects the stock of the AI giant to almost double to $250 this year, arguing that Nvidia is significantly undervalued.
MicroStrategy, a company active in both the AI/BI and crypto sectors, which has massively invested in Bitcoin Treasury, announced a 10-to-1 stock split to make the stock more attractive to other investors and employees. MicroStrategy recently closed at $1,396.
We might see another Bitcoin discount soon, as the long-awaited repayment process for the creditors of the defunct crypto exchange Mt. Gox has commenced, with repayments in Bitcoin (BTC) and Bitcoin Cash (BCH) scheduled. This follows the approval of the November 2021 rehabilitation plan, supported by most of Mt. Gox’s creditors. The trustee, Nobuaki Kobayashi, announced that eligible claimants would begin receiving compensation after enduring multiple delays since the exchange’s collapse in 2014. The balance to be repaid stands at a significant $9 billion, which includes the BTC and BCH, as well as additional funds held by the trustee. It wouldn’t hurt to have some cash on hand, as we have seen that crypto prices can dip when large amounts of Bitcoin are brought to market, as recently by the German government. Nearly all of Mt. Gox’s former creditors might be looking to sell their Bitcoin, which has increased by over 8,500% in value in the 10 years since the exchange’s collapse.
SONY is also entering the crypto scene. Sony has launched the S.BLOX Exchange, having acquired Amber Japan and relaunching it as the S.BLOX Bitcoin and crypto exchange. This marks a massive shift as Sony, a well-known tech brand, expands into the Bitcoin space.
Finally, WikiLeaks co-founder Julian Assange is finally free after a 14-year struggle against extradition to the United States, with an anonymous Bitcoiner donating over 8 Bitcoin, worth around $500,000, to assist Assange’s family in settling debts from his travel and legal expenses. Kudos!
Let us hope that geopolitics, politics, and worldwide events will lead to world peace again. More and more reasons to swap FIAT into Bitcoin, right? Happy Sunday.
Best regards,
Denise
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This article is for informational purposes only and should not be considered financial advice. Investing in stocks involves risk, and readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
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