MicroStrategy CEO Michael Saylor has never been one to shy away from making bold predictions about the price of Bitcoin. In a recent interview with CNBC, Saylor stated that he believes Bitcoin is ultimately destined for a valuation of at least $13 million. This prediction, while not the first of its kind from Saylor, still
UBS, a leading financial firm, has recently recommended investors to sell any potential short-term gains in the US dollar. This advice comes amidst a more bearish stance on the currency for the medium term. UBS foresees a potential corrective rebound in September, especially if the Federal Reserve’s cautious approach to implementing rate cuts aligns with
The recent price movement of Dogecoin has shown signs of recovery, with the price slowly approaching $0.10. This steady increase is seen as a positive development for the meme-based cryptocurrency, as it breaks through the resistance levels around $0.09. The market dynamics have also shifted slightly in Dogecoin’s favor, with increased social media activity and
Bitcoin saw a rise in its price on Tuesday, signaling a rebound after experiencing steep losses the previous week. Bargain buyers entered the cryptocurrency markets, taking advantage of the lower prices. Despite this, the rebound was limited due to the anticipation of key U.S. inflation data expected later in the week. Additionally, sustained capital outflows
The recent movements of Asian currencies have been relatively stagnant, with minimal fluctuations observed. This stability comes amidst increasing anticipation of crucial inflation data that could significantly influence the future of U.S. interest rates. The global economic conditions have been a cause for concern, resulting in a decline in risk appetite and subsequent losses in
The emergence of Credit Coop, a new private credit platform, is a significant development in the Web3 ecosystem, as it aims to support the growth of cryptonative businesses by offering innovative financing solutions. Traditional financing models have long been inadequate for the unique needs of companies operating in the Web3 space, with over-collateralization requirements and
The month of September started off on a rocky note for the stock market, especially in the semiconductor space. Nvidia experienced a significant drop in its market capitalization, marking it as the biggest one-day loss for any U.S. stock in history. The VanEck Semiconductor ETF (SMH) also suffered a nearly 12% decline last week, the
Renowned economist Joseph Stiglitz, Nobel Prize winner of 2001, has voiced his concerns over the Federal Reserve’s monetary policy decisions. Stiglitz has been critical of the Fed’s approach, claiming that they have been too aggressive in tightening monetary policy, leading to potential worsening of inflation issues. He is advocating for a half-point interest rate cut
Recently, California announced its plan to sell $2.5 billion of tax-exempt general obligation bonds, marking the state’s second largest offering this year. The purpose of this sale is to finance voter-approved projects, pay down outstanding commercial paper, and refund outstanding general obligation bonds. This move has garnered attention from various ratings agencies, including Fitch Ratings,
The recent budget forecast released by the city of Chicago is projecting a significant increase in the corporate fund deficit in the coming years. The deficit is expected to balloon to $982.4 million by 2025, a stark contrast from the $222.9 million shortfall projected at the end of 2024. Mayor Brandon Johnson’s administration presented both