Bitcoin

GameStop, Bitcoin, Saudi Aramco and Hipgnosis

Published

11 months ago

3 June, 2024

GameStop, Bitcoin, Saudi Aramco and Hipgnosis

Paul Dano in the 2023 film Dumb Money, which chronicles the January 2021 GameStop short squeeze. GameStop shares soared on Monday after Keith Gill, the man who inspired the 2021 short squeeze, appeared to show a position of $181.4 million in GameStop shares and options. (Reference media, Reference media)

GameStop (GME)

Meme GameStop shares rebounded and were the number one trending ticker in pre-market trading on Monday on speculation that Keith Gill, the man who inspired the 2021 short squeeze, could currently have a significant position at the video game retailer.

Gill, who goes by Roaring Kitty on X and YouTube and DeepF — Value on Reddit, appeared to post a screenshot showing a $181.4 million (£142.6 million) position in GameStop shares and options.

The options would allow him to buy the shares at $20 per share.

See more information: FTSE 100 LIVE: Europe in the green as London shares make biggest jump in a month

“The recent renewed interest in meme stocks, coming as major U.S. indexes struggle to reach new highs, is a sign of excessive exuberance and is more likely a negative omen given the growing headwinds in the markets,” Robert Lea, a Bloomberg Intelligence analyst, he said.

GameStop largely relies on brick-and-mortar stores and has struggled with customers turning to the Internet to buy video games and collectibles.

The price of Bitcoin rose slightly on Monday, adding 1.74% on the day, reaching $68,858 at the time of writing. However, overall it has remained heavily range-bound since failing to break above $70,000 again in late May.

Bitcoin saw little price movement even as El Salvador President Nayib Bukele – who adopted the cryptocurrency as legal tender in 2021 – was re-elected to a second term over the weekend.

See more information: Live Crypto Prices

The price was also supported by Donald Trump fans after the former US president added the option to accept bitcoin as campaign donations.

Despite the drop in earnings, bitcoin investor Peter Brandt is predicting that the cryptocurrency could reach $150,000 by September 2025.

Saudi Aramco (2222.SR)

Saudi Aramco executives are expected to hold a series of events in the UK and US as they look to drum up interest for a $12 billion share sale.

Saudi Arabia’s state-owned oil giant abandoned an international roadshow for its $29.4 billion initial public offering five years ago after foreign investors raised doubts about its valuation expectations, leaving the government dependent on local buyers. .

The story continues

See more information: Stocks that are trending today

However, its secondary listing plans were exceeded within hours of the opening of trading on Sunday.

As a result, Aramco is planning investor-attracting events in London this week, at least one of which will be attended by Chief Executive Amin Nasser, according to Bloomberg News.

The Saudi government owns about 82% of Aramco, while the kingdom’s wealth fund holds an additional 16% stake.

Black stone (BX) announced plans to improve its bid for Hipgnosis as part of a restructured offer for the music rights owner designed to facilitate the completion of the deal.

On Monday, the US private equity firm said it had revised the offer price following discussions with Hipgnosis’ board.

It rose by a cent per share, valuing Hipgnosis at around $1.58 billion (£1.27 billion), a premium of almost 50% over the closing price of Hipgnosis shares before an offer was made .

See more information: Stocks to watch this week: WH Smith, B&M, BAT and Inditex

The two companies had previously agreed to a deal that will see Hipgnosis removed from the public markets.

However, the process was complicated by tensions between the London-listed fund and its founder, Merck Mercuriadis, who runs consultancy firm Hipgnosis Songs Management (HSM).

Watch: What Happened in Meme Star GameStop’s $933 Million Stock Sale

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Bitcoin

What to watch for in the markets

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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