CNBC.com’s Pippa Stevens brings you the top business news headlines of the day. In today’s show, Kate Rooney breaks down the cryptocurrency-inspired dogecoin into memes about what supporters claim to be “Doge’s Day.” In addition, the team of “After Hours” delves into the current launch of the Apple product.
Novogratz: Dogecoin, Bitcoin are on the rise, but these cryptocurrencies are quite different
Longtime cryptocurrency bull Mike Novogratz stressed on Tuesday that Bitcoin and Dogecoin, while both have held strong rallies this year, are very different in terms of design and risk profiles.
Bitcoin was launched in 2009 and became adjustments and is starting to become the world’s largest digital currency. On the other hand, dogecoin started out as a joke in 2013, but this year it shot up as the so-called meme traffic on social media, including favorable comments from billionaire CEO Tesla Elon Musk and other celebrities .
Novogratz, founder and CEO of Galaxy Digital, a cryptocurrency-focused financial services company, told CNBC’s “Squawk Box” that Bitcoin is “a well-thought-out, well-distributed value store that lasts 12 years and grows in adoption. , where dogecoin has literally two guys who own 30% of the total supply “. There are also “tens of billions of dollars” of capital and operating expenses that are introduced into the bitcoin ecosystem each year and that are not there for dogecoin, he added.
Here’s everything Apple has just announced: new iPads Pro, colorful iMacs, AirTag and more
Apple said Tuesday it will launch new high-end iPads using the company’s M1 chip, which is also used on its Macs. Previously, iPads used A-Series chips, which are the ones that power the company’s iPhones. Apple says it is the most powerful tablet on the market.
It also includes an enhanced USB-C connector that will allow the iPad to connect to higher-resolution monitors and download images from a camera faster.
The 12.9-inch iPad Pro has an improved display that uses a series of brighter LEDs and a better color resolution than previous screens using a technology called Mini-LED.
Netflix reports a dramatic slowdown in subscribers
Netflix shares fell as much as 11% in out-of-hours trading operations after reporting a large subscriber shortfall in its first-quarter earnings report. The company also said it only expects to add about a million subscribers in the current quarter.
“We believe that paid membership growth slowed due to Covid-19’s big push forward in 2020 and a lighter slate of content in the first half of this year, due to delays in Covid production -19 “, Netflix said in its letter to shareholders.
Netflix has continued to face a number of competitors such as Disney + Disney + Hulu, AT & T’s HBO Max, Apple TV +, Amazon Prime and Comcast NBCUniversal’s Peacock. The company said in its report that it does not believe competition played a role in the low number of subscribers.