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Ripple CEO Brad Garlinghouse announced that 75% of the company's job openings are now US-based, attributing this shift to the pro-crypto stance of the incoming Trump administration. Following the November 2024 election, optimism in the crypto industry has surged, with companies like Hive Digital relocating to the US and Morgan Stanley considering adding crypto trading to its platform. Industry leaders predict a favorable regulatory environment and significant growth in the sector over the next four years.
Nvidia is forming a shallow double-bottom base with a buy point at 146.54, while Tesla's stock has dropped 6.1% following fourth-quarter deliveries that fell short of estimates. The Nasdaq index is struggling, having recently undercut its 50-day moving average, raising concerns about the market rally's sustainability. Despite some stocks showing resilience, investors are advised to reduce exposure amid the current volatility.
The cryptocurrency market experienced a significant downturn, with Bitcoin (BTC) plummeting from over $108,000 to around $95,000, marking its first weekly decline since Trump's election. Ethereum (ETH) and Solana (SOL) also faced substantial losses, with ETH dropping below $3,500. The Federal Reserve's hawkish stance on interest rates contributed to the selloff, resulting in $1.2 billion in liquidations across the market.
President-elect Donald Trump has nominated Paul Atkins as the new SEC Chair, sparking optimism among crypto and finance leaders for a balanced regulatory approach. Atkins, a former SEC commissioner known for advocating fair regulation, is expected to foster innovation in blockchain technology, particularly in casino gaming and other industries. His appointment signals a potential shift towards a more supportive environment for digital assets, contrasting sharply with the previous administration's stringent regulations.
Cathie Wood, CEO of ARK Invest, predicts Bitcoin could exceed $1 million by 2030, driven by political and regulatory changes that may enhance market dynamics and liquidity events. She emphasizes Bitcoin's scarcity, noting it is becoming "even more scarce than gold," with a fixed supply of 21 million coins. Wood also highlights Elon Musk's potential to streamline government operations, which could further foster innovation.
Cathie Wood, founder of ARK Investment Management, predicts a surge in startup mergers and acquisitions if Donald Trump wins another presidential term, citing potential regulatory changes. She maintains that Bitcoin could exceed $1 million by 2030 due to its fixed supply, contrasting it with gold's expandable production. Wood also highlights the positive impact of Trump's pro-crypto policies, including the nomination of Paul Atkins as SEC Chair, which could foster growth in both the tech startup and cryptocurrency markets.
Ark Invest CEO Cathie Wood predicts Bitcoin will exceed $1 million by the decade's end, driven by its finite supply and increasing institutional interest. She highlights Bitcoin's resistance to inflation compared to gold and anticipates a surge in mergers and acquisitions under the incoming Trump administration, facilitated by regulatory changes. Wood also welcomes the nomination of Paul Atkins as SEC chair, expecting a more favorable environment for crypto innovation and investment.
Cathie Wood, founder of ARK Investment Management, predicts a surge in mergers and acquisitions following Donald Trump's election, driven by anticipated regulatory rollbacks. She also forecasts Bitcoin could exceed $1 million by 2030, citing its fixed supply and growing institutional interest. Wood emphasizes that the crypto market is still in its early stages, with significant growth potential compared to gold.
Ark Invest sold 13,780 shares of Coinbase for approximately $3.9 million amid market volatility following Jerome Powell's hawkish speech, which caused a 10% drop in Coinbase's stock price to $279.86. Despite this, Coinbase is up 61% year-to-date, and Ark retains $110 million in shares, representing 9.9% of its ARKF portfolio, reflecting a strategic risk management approach. This move aligns with Ark's history of adjusting its Coinbase holdings in response to market conditions.
Cathie Wood, founder of ARK Invest, predicts Bitcoin could reach $1.5 million by 2030, highlighting its potential to rival gold's $15 trillion market cap. With a current valuation of $2 trillion, she emphasizes Bitcoin's resilience, decentralized nature, and growing institutional adoption as key factors driving this forecast. As institutional momentum strengthens, Wood's vision reflects a broader belief in Bitcoin's transformative role in global finance.
Cathie Wood
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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