Aurelia Butler

More stories

  • 125 Shares189 Views

    in Cryptocurrency

    Bitcoin ETF weekly inflows the largest since launch – JPMorgan

    The investment bank estimates preliminary net sales of U.S. spot Bitcoin ETFs of ~$ $132 million on Thursday, March 14, the group’s 44th day of trading.”Daily gross flows (excl. GBTC) were $389mn, a significant step down from the record >$1.1bn daily gross flows seen just a few days ago,” said analysts. “Nonetheless, the group still reported the largest week of inflows since launch totaling ~$2.6bn of net sales (incl. GBTC) and $4.0bn of gross sales (excl. GBTC) for the 5 trading days ended March 14.”The bank noted that Grayscale’s GBTC redemptions were -$257mn yesterday, while they also said BlackRock (NYSE:BLK)’s IBIT accounted for nearly 90% of the gross flows recorded yesterday as “many other issuers saw significantly more muted flow.” More

  • 125 Shares179 Views

    in Cryptocurrency

    LM Funding boosts mining capacity with early delivery of Antminers

    The Bitmain S21 Antminers are high-efficiency mining rigs with a hash rate of 200 terahash per second and a power consumption rate of 3,500 watts. They are designed to mine the SHA-256 algorithm, which is used by Bitcoin and several other cryptocurrencies.Bruce M. Rodgers, Chairman and CEO of LM Funding, stated that the early delivery of the S21s, originally expected by the end of March, is a positive development for the company. Rodgers expressed confidence that these machines will be significant contributors to the company’s revenue growth, especially during the upcoming Bitcoin halving event this year and the subsequent one projected for 2028.LM Funding America began its Bitcoin mining operations in September 2022 and also operates a technology-based specialty finance company. This segment of the business provides funding to nonprofit community associations in Florida, Washington, Colorado, and Illinois, by purchasing a portion of the associations’ rights to delinquent accounts.The information in this article is based on a press release statement from LM Funding America, Inc.As LM Funding America, Inc. (NASDAQ:LMFA) gears up to expand its cryptocurrency mining operations with the introduction of new Bitmain S21 Antminer machines, the company’s financial health and market performance provide a broader context for investors. With a focus on growth, analysts are anticipating an increase in sales for the current year, aligning with the company’s expansion efforts in the mining sector. This optimism is reflected in the company’s impressive revenue growth over the last twelve months, which stands at 993.94%, showcasing a substantial increase in the company’s financial activity.Investors seeking value might find LMFA’s low Price / Book multiple of 0.2 particularly interesting, suggesting that the company’s stock could be undervalued in relation to its assets. This metric often attracts investors who are looking for potential bargains in the market.Despite these positive indicators, potential investors should be aware that LMFA is trading with high price volatility, which could indicate a higher risk profile. The company is also quickly burning through cash, with an operating income margin of -173.77% over the last twelve months, underscoring the need for careful financial management in the future.For those looking to delve deeper into LM Funding America’s financials and future prospects, there are additional InvestingPro Tips available. With the use of the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights, which include analyses on stock performance, profitability forecasts, and more.InvestingPro Data metrics reveal a market capitalization of 7.11 million USD, highlighting the company’s size in the financial markets. The revenue figures and the recent significant return of 17.1% over the last week could be indicative of a positive investor sentiment following the announcement of the early delivery of mining hardware.For investors who wish to explore further, there are over ten additional InvestingPro Tips available, offering a comprehensive analysis of LMFA’s financial health and market trends.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 150 Shares159 Views

    in Cryptocurrency

    Two potential outcomes for Bitcoin if Satoshi Nakamoto’s true identity is revealed

    Satoshi Nakamoto is the pseudonymous person or group that created the cryptocurrency Bitcoin. The true identity of Satoshi Nakamoto remains unknown, and there has been much speculation and investigation into who or what group is behind the pseudonym. The name first appeared in a paper published in 2008 that detailed the design of Bitcoin. Satoshi is said to have stayed active in Bitcoin’s creation and the blockchain until around 2010 but hasn’t been heard from since. Despite various claims and theories, the true identity of Satoshi Nakamoto continues to be shrouded in mystery.Most believe Satoshi Nakamoto holds around 1.1 million BTC. However, this is only an estimate, with some speculating it is between 600,000 and 1.1 million, worth between approximately $43 billion to $80 billion at current rates. This amount is said to be spread across various addresses, and it is believed that these bitcoins were acquired as a reward for mining during the early days of Bitcoin. Despite the widespread belief that these addresses belong to Satoshi Nakamoto, it is impossible to confirm with 100% certainty.As mentioned, there have been various attempts at unmasking Satoshi Nakamoto, while some people have also come forward claiming to be the Bitcoin creator. For example, recent reports about a UK court case involving Craig Wright have brought significant attention to the elusive identity of Satoshi Nakamoto.A UK High Court ruled on Thursday that Wright, an Australian computer scientist, is not Satoshi Nakamoto, despite his claims to the contrary. Wright was taken to court by the Crypto Open Patent Alliance (COPA) to stop him from suing Bitcoin developers. COPA asked for a ruling that Wright was not Satoshi.Judge James Mellor, presiding over the case, said there was “overwhelming” evidence that Wright was not Satoshi. “Dr Wright is not the author of the Bitcoin white paper,” said the judge. “Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011.”COPA’s members include Twitter founder Jack Dorsey’s payments firm Block. Dorsey tweeted the judge’s comments on Thursday. So, what would be the impact on Bitcoin if Satoshi Nakamoto was to be unmasked? Gady Kohanov, the founder of BitcyClub, an educational app designed to help novice investors learn how to predict asset price movements of cryptocurrencies and commodities, told Investing.com that Satoshi’s “anonymity adds to the allure and uniqueness of Bitcoin, contributing to its mystique and widespread adoption.”Kohanov believes the decision to conceal the identity of Bitcoin’s creator was intentional and “reflects a deep understanding of human behavior,” as people tend to judge products based on their creators rather than evaluating the solutions they offer. “Poking the bear often leads to undesirable consequences,” said Kohanov. “I predict that if the world continues to obsess over uncovering the identity of Satoshi Nakamoto, we may be inviting trouble.” “If the veil of secrecy surrounding Bitcoin’s creator is lifted, it could shatter the idealized image that many hold of the cryptocurrency,” he added, explaining he sees two potential outcomes if Satoshi Nakamoto’s true identity is revealed. “Firstly, Bitcoin may lose its mystique and appeal as a secure and unassailable digital asset,” argues the BitcyClub founder. “The introduction of a human element, complete with past mistakes and history, could tarnish Bitcoin’s reputation and erode investor confidence.” Secondly, he believes existing investors could face significant losses based on the market reaction to the potential revelation. According to Kohanov, this could potentially result in a drastic decline in Bitcoin’s value.“Its enigmatic creator and the anonymity surrounding its origins have contributed to its allure,” he stated. “However, attaching a human face with a history, especially one potentially fraught with controversy, could irreversibly alter Bitcoin’s perception and value in the eyes of future investors.”Overall, Kohanov believes that even if Bitcoin’s fundamentals were to remain unchanged, the revelation of Satoshi Nakamoto’s identity “could trigger a seismic shift in the cryptocurrency landscape, leaving existing investors reeling from substantial losses.” More

  • 138 Shares199 Views

    in Economy

    Some McDonald’s outlets back online after tech outage in several countries

    The fast food giant ruled out the possibility of a cybersecurity incident and said the tech issue was being resolved, after its restaurants in countries including Japan, UK, Canada and Australia faced outages earlier in the day.McDonald’s declined to comment on the number of stores impacted. Many of its stores in Japan had stopped taking in-person and mobile customer orders because of the system disruption. A spokesperson at McDonald’s Holdings Company Japan said recovery work was in progress and operations were resuming at some stores. The company’s outlets in the UK and Ireland were fully back online after the outage, it said, while McDonald’s Australia said most of its restaurants had reopened.The restaurant chain has about 40,000 outlets worldwide, with more than 14,000 stores in the United States.The outage seemed to be have affected customers in Hong Kong and New Zealand as well, with people taking to social media to complain about disruptions at stores.Earlier this month, Meta-owned Facebook (NASDAQ:META) and Instagram also faced technical issues that disrupted global services for hundreds of thousands of users for more than two hours. More

  • 150 Shares199 Views

    in Economy

    Global equity funds draw big inflows as investors eye central bank signals

    According to data from LSEG, global equity funds saw a net $22.63 billion worth of inflows during the week, the largest amount in a week since the first week of February 2022.Wall Street was set to end marginally higher this week in spite of hotter-than-expected consumer prices and producer prices data pointing to sticky inflation.”Equities continue to disregard moves in rates, as despite paring back of Fed rate cut pricing in recent months, the S&P500 is up 25% since its October trough,” said Chris Whelan, senior strategist at TD Securities.”Furthermore, this comes alongside a broad-based cross-asset bull-run, with gold and bitcoin garnering much attention as they recently reached new highs.”Regionally, European equity funds led with $15.07 billion in inflows, the most since Feb. 2, 2022. U.S. and Asian equity funds also saw substantial inflows of $4.93 billion and $2.11 billion, respectively. Sector-wise, technology funds continued their growth trend, receiving $1.01 billion, marking the ninth consecutive week of inflows. Industrial and metals & mining sectors garnered $301 million and $222 million in inflows, respectively, while consumer discretionary sectors faced net outflows of $962 million.Meanwhile, global money market funds remained in high demand for the third week in a row, with $35.51 billion in net purchases. Global bond funds also continued their positive streak, attracting $7.27 billion in the 12th consecutive week of inflows. Within this segment, medium-term U.S. dollar bonds, global corporate, and government bond funds drew $2 billion, $1.78 billion and $475 million respectively.In commodities, precious metal funds saw outflows diminish to an 11-week low of $122 million. Conversely, energy funds experienced their first weekly inflow in three weeks, at $25 million. Emerging market funds, encompassing 29,721 funds, reported that bond funds received $473 million, breaking a four-week trend of outflows. Equity funds in these markets continued to see outflows, though reduced to $282 million from $1.72 billion the previous week. More

  • 125 Shares199 Views

    in Economy

    Swedish central bank council picks Anna Seim as new rate-setter

    Seim is currently professor of economics and acting director at the department of economics at Stockholm University.”She will be a good complement to the other members of the executive board, and we are also very pleased that our decision was unanimous,” the general council said in a statement.Seim’s research focuses among other things on the effects of the inflation target on wage formation and other macroeconomic outcomes, it added.Floden joined the Riksbank as a rate-setter in 2013 and got a second mandate period in 2018. Under a new law that came into force last year, the central bank’s five rate-setters can only serve two terms.Seim is appointed to a six-year term, starting on May 22, and the first monetary policy meeting she will take part in is scheduled for June 26, the Riksbank said. More

  • 100 Shares169 Views

    in Economy

    Wall St futures mixed as inflation woes weigh

    (Reuters) -U.S. stock index futures struggled for direction on Friday after hotter-than-expected inflation data roiled rate-sensitive stocks in the previous session, leaving investors on edge ahead of the Federal Reserve’s meeting next week.Indexes closed lower on Thursday after producer prices data was stronger than expected, adding to concerns around inflation and sending the yield on the 10-year note to a two-week high. Traders reined in bets of a June rate cut by the Fed to 60% from 73% last week, according to the CME FedWatch Tool, on worries that higher inflation would put the central bank under increased pressure to keep interest rates elevated.All eyes are now on next week’s Federal Reserve meeting for possible hints on the timing of the central bank’s rate-easing cycle.”(People are looking for) more of the conversation that comes out of the Fed meeting indicating the probability of rate cuts this year, and then the subsequent release of the dot plots around where the Fed is expecting the future path of interest rates to go,” said Russell Hackmann, president at Hackmann Wealth Partners.Friday also marked the simultaneous expiry of quarterly derivatives contracts tied to stocks, index options and futures, also known as “triple witching”. At 8:30 a.m. ET, Dow e-minis were up 60 points, or 0.15%, S&P 500 e-minis were up 4 points, or 0.08%, and Nasdaq 100 e-minis were down 12.75 points, or 0.07%.Semiconductor stocks fell in the previous session and were on track to snap their three-week winning streak as investors took profits. The global GTC developer conference from March 18 to 21 will be watched closely for AI-related announcements.Micron Technology (NASDAQ:MU) rose 2.6% in premarket trading after brokerage Citi raised its price target on the company to $150, the highest on Wall Street for the chipmaker, according to LSEG data. Most other chipmakers edged lower in trading before the bell. Madrigal Pharmaceuticals (NASDAQ:MDGL) jumped 24.4% after the U.S. Food and Drug Administration approved its drug for a fatty liver disease known as non-alcoholic steatohepatitis.Adobe (NASDAQ:ADBE) shed 11.4% after it forecast second-quarter revenue below analysts’ estimates, following stiff competition and weak demand for its AI-integrated photography, illustration and video.Ulta Beauty (NASDAQ:ULTA) slid 7.5% after forecasting full-year profit below Wall Street estimates, as elevated supply-chain costs and increased promotions hurt its margins.Crypto stocks such as MicroStrategy, Marathon Digital (NASDAQ:MARA) and Coinbase (NASDAQ:COIN) Global eased between 2.8% and 4.5%, as bitcoin fell. More