“You have a new technology that people are still trying to grasp and don’t fully understand,” Jacob told MarketWatch in an interview Monday, also president of Jacob Funds. Still, there is a big difference between the two.
“Currently, the cryptocurrency is not driving the stock market. The Internet was pushing the stock market in the late 1990s. It is possible that we have reached this point, but we are not there yet “, he said.
Jacob, whose funds are looking for companies with innovative technology and wide investment pits, says his approach to the cryptographic space has the same balance as his perspective of Chinese internet stocks in the early 2000s. , considered risky at the time. “We know we want the exposure, but we also want to be very careful about the risk we put into the portfolios,” he said.
One work he likes is Voyager Digital VYGR,
VYGVF,
a leading stake in Internet Fund and Jacob Discovery Fund JMCGX,
It is a small Canadian cryptocurrency broker with solid technology and an impressive management team. Its co-founder and CEO, Steve Ehrlich, is a former e-commerce executive, while its co-founder Oscar Salazar was the founding architect and technology director of the Uber technology group UBER,
More than 2,000% in 2021, Voyager shares have gained 382% so far this year.
Another stake in these Jacob funds is Silvergate Capital SI,
a specialized bank focused on the digital currency business.
It is a “traditional bank that decided that the crypto market needed an exchange network that could manage an asset 24/7,” Jacob said. The bank is known for its Silvergate Exchange Network, an instant liquidation network. Because the existing financial system has been slow on this front, it leaves smaller, more agile players more able to meet what is needed right now. Shares have risen 68% this year so far, having gained 367% in 2020.
Crypts are a “dangerous playground to play with for sure … but it is also an area where there are exciting companies that will benefit greatly and should be present for a long time or, finally, acquire “Les,” Jacob said.
See earnings and cryptocurrencies
ES00 stock futures,
YM00,
NQ00,
are under pressure after Monday’s Nasdaq COMP,
sell off. Shares in Tokyo NIK,
fell 2% amid rising COVID-19 cases. Elsewhere, bitcoin BTCUSD,
continues drifting south, but dogecoin DOGEUSD,
increases “Doge Day” – an unorganized effort to push the $ 1 cryptocurrency that started as a joke.
Pharmaceutical giant Johnson & Johnson JNJ,
and cigarette maker Philip Morris PM,
will report earnings before opening, with streaming giant Netflix NFLX,
the big poster head after closing.
Read: The different effects on the profits of the pandemic will be shown with technological reports from the airlines
Stocks of IBM International Business Machines,
they are advancing ahead of the opening, after the tech giant exceeded Wall Street estimates and predicted a return to pre-COVID-19 growth levels.
Shares of United Airlines UAL,
they fall after losing more than $ 1.3 billion at the start of the year, missing Wall Street forecasts, but the airline promised new international routes to countries open to travelers. That is, if they can find them, as the State Department warns Americans not to visit 80% of the world because of the risks of COVID-19. India has just put its capital under closure for a week amid growing cases.
Canadian National CNI,
has confirmed a $ 33.7 billion cash and stock offer to buy rival Kansas City Southern Railroad KSU,
A tweet from Tesla TSLA,
Chief executive Elon Musk appeared to push the actions of the electric car maker at the end of the trade. “Data records recovered so far show that autopilot was not enabled and this car did not buy FSD [Full Self-Driving]” He said on Twitter TWTR,
Elsewhere, an article by Chinese state agency Xinhua News Agency said Tesla needs to do more to gain consumer confidence, following a protest from a customer at a car show on Monday.
In what appears to be a victory for cannabis companies, the House of Representatives has passed a measure that facilitates access to financial services for cannabis-related companies.
Apple AAPL,
will host a virtual event on Tuesday: “Spring Loaded.” Analysts expect the tech giant to launch newer, faster iPads. See also MarketWatch’s new quarterly review of Apple’s key metrics.
Random readings
After casting doubt on COVID-19, rocker Ted Nugent says he has it.
According to new research, tyrannosaurs may have hunted in packs like wolves.
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