A positive day for stocks is building after the Federal Reserve pledged to maintain accommodative policy until the economy is in place. And investors are still waiting for U.S. lawmakers to reach a stimulus deal.
Certainly, the actions have had a fairly decent 2020, given the misery caused by the COVID-19 pandemic. But the SPX of the S&P 500,
the 14% year-on-year gain has nothing to do with how an alternative asset group has fared.
More than 200% this year, the bitcoin superstar cryptocurrency BTCUSD,
reached a new record of $ 22,000, touching above $ 23,000 at a point early Thursday, a day after topping $ 20,000. And we have a couple of new calls to the cryptocurrency indicating that there may be much, much more to go through.
Try $ 400,000, says Scott Minerd, investment director at Guggenheim Partners Investment Bank, who made that prediction Bloomberg News late wednesday.
Minerd said his bank started assigning itself to bitcoins when it reached $ 10,000, and while this becomes a challenge, as the price is now approaching $ 20,000, “our core work shows that the bitcoin should be worth about $ 400,000. ”
The jump to $ 400,000 is based on “scarcity and relative valuation, such as gold as a percentage of GDP [gross domestic product]. Bitcoin actually has a lot of gold attributes and at the same time has an unusual value in terms of transactions, ”Minerd said.
Wall Street wasn’t exactly interesting for bitcoins in the early days, but the interest of institutional investors has been growing in finding ways to protect themselves from the threat of future inflation. Larry Fink, the founder and CEO of the world’s largest asset manager, BlackRock, said earlier this month that Bitcoin could become a global market asset.
Read: Paul Tudor Jones says Bitcoin “reminds you … of 1999 Internet stocks”
Another big bitcoin bull, Raoul Pal, a Goldman Sachs alumnus, tweeted on Thursday that he saw bitcoin 10 times higher than a year from now. His goal in December 2021 is $ 250,000, Pal said in an email comment.
In the words of Pal, CEO of Global Macro Investor and co-founder of Real Vision Financial and Crypto TV, “Bitcoin is eating the world” when it comes to asset returns.
The markets
YM00 futures,
ES00,
NQ00,
increase, while European shares SXXP,
they are also in the green and Asian markets had a mostly positive day. CL00 oil prices,
are higher and the GBPUSD pound,
it increases with the hopes of the post-Brexit deal and anticipates the outcome of a Bank of England political meeting.
The buzz
Weekly and ongoing unemployment claims and housing initiatives (the number of homes where construction has begun), along with the Philadelphia federal index, are ahead.
Additional doses in vials of the COVID-19 vaccine from the pharmaceutical company Pfizer PFE,
and its partner BioNTech BNTX,
could increase US supply by 40%. The Food and Drug Administration approved the use of leftover vaccines, which were reported by pharmacists. The first case of an allergic reaction to the vaccine has been reported by an Alaska health worker.
French President Emmanuel Macron has tested positive for COVID-19, and Spanish Prime Minister Pedro Sanchez is one of those now in his forties after coming into contact with him. A Hong Kong police dog is also in quarantine after contracting coronavirus.
Social media micro messaging Twitter TWTR,
will remove any publications it deems misleading about COVID-19 vaccines.
“We keep talking and I think we’ll get there.” That was Senate Majority Leader Mitch McConnell on Wednesday afternoon, after top lawmakers failed to reach an agreement. Talks will continue through Thursday.
The graph
Random readings
Some parts of the Northeastern United States are preparing two meters of snow on Thursday.
A beloved “Lord of the Rings” actor has been vaccinated against COVID-19.
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