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Jim Cramer sets the record straight on his crypto views
  + stars: | 2024-11-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer sets the record straight on his crypto views'Mad Money' host Jim Cramer looks at the recent moves in bitcoin and shares his thoughts on the space.
Persons: Jim Cramer Locations: bitcoin
Trade Tracker: Steve Weiss buys more Bitcoin
  + stars: | 2024-11-25 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Steve Weiss buys more BitcoinSteve Weiss, Founder and Managing Partner of Short Hills Capital Partners joins CNBC’s “Halftime Report” to explain why he's buying more Bitcoin. The Investment Committee discuss crypto.
Persons: Steve Weiss Organizations: Short Hills Capital Partners
A second Trump term could mean more gains ahead for Robinhood , according to Morgan Stanley. Analyst Michael Cyprys upgraded shares to overweight from equal weight and more than doubled his price target to $55 from $24, implying 50.1% upside from Friday's close. Shares have also gained more than 35% in the past month and more than 73% in the past three. HOOD YTD mountain HOOD, year-to-date Cyprys noted that Robinhood is one of the biggest beneficiaries from President-elect Donald Trump's White House win in his coverage univers. The analyst also cited Robinhood's planned acquisition of TradePMR as providing significant optionality for the platform in the long term.
Persons: Morgan Stanley, Michael Cyprys, Cyprys, Donald Trump's Organizations: Trump, Robinhood Locations: HOOD
Here are Monday's biggest calls on Wall Street: Bernstein reiterates MicroStrategy as outperform The firm raised its price target on the stock to $600 per share from $290. " Morgan Stanley upgrades Banco Santander to overweight from equal weight The firm said the bank has a "resilient regional footprint." Morgan Stanley upgrades Robinhood to overweight from equal weight The firm said Robinhood is a Trump election beneficiary. Morgan Stanley upgrades KinderCare to overweight from equal weight Morgan Stanley said shares are compelling at current levels for the daycare company. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's survey checks "reinforce [the] multi-year iPhone upgrade thesis."
Persons: Bernstein, MicroStrategy, Morgan Stanley, Oppenheimer, Robinhood, Trump, HOOD, it's, Telsey, Apple, Goldman Sachs, Berkley, it's bullish, Tesla, TD Cowen, D.A, Davidson, Rosenblatt, Wedbush, Palantir, PLTR, Wolfe, Jones Lang Lasalle Organizations: Banco Santander, Caixabank, ING, Citi, U.S, Bancorp, UBS, Arm Holdings, BMO, Apple Intelligence, CVS, Bank of America, Shoals Technologies, Procter, Gamble, China, China EV, Nvidia, FedEx Locations: Santander, China
CNN —The father of a Hawaii woman who went missing two weeks ago was found dead on Sunday, the Los Angeles Police Department said. Ryan Kobayashi had traveled to Los Angeles to help find his daughter, Hannah Kobayashi. After tirelessly searching throughout Los Angeles for 13 days, Hannah’s father, Ryan Kobayashi, tragically took his own life. She had the same itinerary as her ex-boyfriend, who, unlike Hannah, boarded a connecting flight to New York City from Los Angeles. CNN obtained a photo that appears to show Kobayashi getting off her flight at the Los Angeles airport.
Persons: Ryan Kobayashi, Hannah Kobayashi, Ryan Kobayashi’s, Kobayashi, Hannah’s, “ Hannah, ” Ryan Kobayashi, “ I’m, , Hannah, Family, Kobayashi Kobayashi, Sydni Kobayashi, LeBron, , texted, , Veronica Miracle, Caroll Alvarado, Michelle Watson, Maria Aguilar Prieto, Chris Boyette Organizations: International Association for Suicide Prevention, Befrienders, CNN, Los Angeles Police Department, Los Angeles International Airport, LAPD, CNN –, Police, Taschen, YouTube, Nike, Facebook, Metro Locations: Hawaii, Los Angeles, New York City, Los Angeles County, New York, Los, The, Crypto.com
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicroStrategy acquires 55,500 more bitcoin amid stock volatility: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bruno Caratori, Hashdex co-founder and chief operating officer, discusses post-election crypto investment trends and his outlook for the industry under the incoming Congress.
Persons: explainers, Bruno Caratori, Hashdex Organizations: CNBC Crypto, CNBC
Conventional wisdom holds that Musk — the world’s richest man and key Donald Trump ally — and his friends are just joking. But Musk’s posts are adding to the anxiety that MSNBC staffers are feeling about the reelection of Donald Trump and the recently announced spinoff of Comcast’s cable channels. I learned that more than one benevolent billionaire with liberal bonafides has already reached out to acquaintances at MSNBC to express interest in buying the cable channel. Instead, he is moving MSNBC and a half dozen other cable channels into “SpinCo,” a pure-play cable programming company. I have sensed quite a bit of enthusiasm at MSNBC about “SpinCo,” actually, because the new structure should allow for more investment into MSNBC, CNBC and the other brands.
Persons: CNN — Elon Musk, Donald Trump, , bonafides, Brian Roberts, Benjamin Swinburne, Morgan Stanley, SpinCo, , , Donald Trump , Jr, Joe Rogan, Rachel Maddow’s, Musk, Maddow, Mark Cuban, Trump, Matt Gaetz, Viktor Orbán’s “, Ian Bassin, ” Bassin, Gábor, Kamala Harris, Cuban Organizations: CNN, MSNBC, Twitter, Comcast, , CNBC, Trump Jr, Former Florida, ” CNN, , Democracy, Politico Magazine, Fox Locations: Hungary
Wall Street launches new ways to bet on bitcoin
  + stars: | 2024-11-25 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +2 min
As solana reported hack, after hack, bitcoin didn't really change. Wall Street is also decking the coin with all its familiar trappings like exchange-traded fund wrappers and allowing traders to hedge positions and make leveraged bets. In January, spot bitcoin ETFs began trading, which opened the door to more mainstream investors. Last week, options on those spot crypto products finally started to go live on the Nasdaq and New York Stock Exchange. CBOE Global Markets is also set to list its first cash-settled bitcoin ETF options on Dec. 2.
Persons: bitcoin, solana Organizations: Traders, Nasdaq, New York Stock Exchange, CBOE
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020. Tron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty Financial, he announced Monday. "We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor," Sun wrote in a post on X. In exchange, Trump's LLC received billions of tokens and the right to 75% of revenues above a $30 million threshold. Sales now appear to have crossed the $30 million threshold to trigger revenue distribution to Trump's LLC.
Persons: Justin Sun, Tron blockchain, Donald Trump's, Sun, Trump, Bitcoin, TRON, WLFI, Zachary Folkman, Folkman Organizations: Liberty Financial, Liberty, Trump, Trump's, America, Etherscan Locations: Hong Kong, China
Bitcoin hit a new record high last week, with prices climbing above $99,000 for the first time. CNBC asked analysts for their take on why bitcoin has so far failed to breach the widely-watched $100,000 mark. "There's a ton of leverage in the system right now," Novogratz, a longtime crypto investor, told CNBC's "Squawk Box" on Friday. Novogratz added that he's advocating investors buy "straight bitcoin" rather than bitcoin-exposed plays, such as MicroStrategy which owns a huge, multi-billion-dollar pile of bitcoin in its corporate treasury reserves. Deutsche Bank's Laboure said she thinks the idea of a U.S. national bitcoin is still far off, practically speaking.
Persons: Fernando Gutierrez, Donald Trump, Trump's, hasn't, bitcoin, Andre Dragosch, Bitwise, Bitcoin, Dragosch, Novogratz, CNBC's, David Morrison, Morrison, Marion Laboure, Trump, Gary Gensler —, Deutsche Bank's Laboure, Laboure Organizations: Getty, CNBC, Galaxy Digital, Trade, Deutsche Bank, bitcoin, Trump, Securities, Exchange, Deutsche Locations: Juarez, Europe, U.S
AdvertisementMarc Andreessen argues against sharing too many personal details at work, urging professionalism. Advertisement"When managers and leaders say, 'Bring your whole self to work,' they're leaving out the terms and conditions," Reitz said. On an episode of their podcast, "The Ben and Marc Show," Andreessen and A16z cofounder Ben Horowitz celebrated Donald Trump's reelection. "When it comes to business, it shouldn't be just based on our personal politics. I can bring my whole self to work, but I can't talk about politics,'" she said.
Persons: Marc Andreessen, Marc Andreessen doesn't, Andreessen Horowitz, Andreessen, Megan Reitz, Reitz, Sundar Pichai, Ben, Marc Show, Ben Horowitz, Donald Trump's, Trump's, Joe Biden's, Ella Washington, Washington, Jake Telkamp, Telkamp Organizations: Google, Georgetown University, Hull College of Business, Augusta University Locations: California, New York, Georgia
Rumble , a video platform aimed at conservatives, said Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency. "We believe that the world is still in the early stages of the adoption of bitcoin," Rumble chairman and CEO Chris Pavlovski said in a statement Monday. The move puts Rumble in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020. Rumble is viewed as a play linked to Donald Trump's return to the White House given its popularity among conservatives. MicroStrategy chairman and bitcoin evangelist Michael Saylor said last week on an X Spaces event that he plans to pitch the board of Microsoft in December on his bitcoin treasury strategy.
Persons: Chris Pavlovski, MicroStrategy's, Donald Trump's, Cantor Fitzgerald, Howard Lutnick, Trump, Lutnick, Bitcoin, Michael Saylor, Sen, Cynthia Lummis Organizations: Semler, Acurx Pharmaceuticals, YouTube, . Commerce, Microsoft Locations: Wyoming
In today's big story, Trump's trade plans could spell trouble for prices, and preparing for it isn't so easy . AdvertisementThe prevailing theory among many economists is Trump's plan will increase prices and inflation as companies pass the cost of the taxes down to their customers. He told BI he views them more as a negotiation tactic with China and American companies with operations there. Still, some experts told BI they foresee obstacles to making it a reality . Sector experts told BI the massive chipmaker will continue to make its most advanced tech in Taiwan .
Persons: Drew Angerer, Tyler Le, Donald Trump's, Emily Stewart, We're, Philip Daniele didn't sugarcoat, John David Rainey, There's, Dominick Reuter, Emily, Trump, Nobel, Simon Johnson, Brian Cornell, Natalie Ammari Baby boomers, Scott Bessent, George Soros, Bluesky, Rose Wang, It's, Chelsea Jia Feng, Taylor Swift, they'll, crosshairs, Elon Musk, Vivek Ramaswamy's, Biden, Alex Jones, Menendez, Dan DeFrancesco, Grace Lett, Lisa Ryan, Ella Hopkins, Amanda Yen, Jack Sommers, Milan Sehmbi Organizations: Business, Getty, Walmart, Electronics, Target, Social Security, Treasury, Trump, Nvidia, White, Los Locations: China, Phoenix, Taiwan, Florida, Washington, Los Angeles, New York, Chicago, London
Bath & Body Works — Shares popped 16% after third-quarter earnings edged out Wall Street forecasts. Robinhood — Shares of the brokerage firm rose more than 7% after Morgan Stanley upgraded the stock to overweight from equal weight. Macy's — Shares of the retailer fell 3% after Macy's said it was delaying its official third-quarter results due to discovering that an employee had intentionally made incorrect accounting entries to hide delivery expenses. Abercrombie & Fitch — Shares rose 3% ahead of its third-quarter earnings expected Tuesday before the bell. Arm Holdings — Shares rose more than 1% after UBS initiated coverage of the chipmaker with a buy rating, citing upside from artificial intelligence demand.
Persons: LSEG, Morgan Stanley, Macy's, Oppenheimer, Bernstein, Sally Beauty, Cowen, Oliver Chen, , Jesse Pound, Alex Harring, Michelle Fox, Samantha Subin, Pia Singh Organizations: Abercrombie, Fitch, FactSet, , Sally Beauty Holdings, Santander —, UBS Locations: Hollister
CNN —A ransomware attack has disrupted a third-party software system that Starbucks uses to track and manage its baristas’ schedules, forcing the coffee chain to shift to manual mode to ensure its employees get paid properly, a Starbucks spokesperson said Monday. Starbucks’ store leadership have advised their employees on how to work around the outage manually, and the company will make sure everyone gets paid for all hours worked, according to Starbucks spokesperson Jaci Anderson. Starbucks joins a growing list of companies disrupted by the hack of Blue Yonder, an Arizona-based cloud services provider that serves grocery stores and Fortune 500 firms. The Wall Street Journal first reported that Starbucks was impacted by the Blue Yonder hack. A range of major multinational corporations use Blue Yonder cloud services to manage their supply chains.
Persons: Jaci Anderson, Ford, “ Ford, , Ian Thibodeau, CrowdStrike, Cybercriminals, Semperis, Brian Niccol Organizations: CNN, Starbucks, Street Journal, US Locations: Arizona, United Kingdom, United States, France, Germany
For most art-world buyers, a work unsubtly called “Comedian” lacked a certain a-peel. But on Wednesday, Cattelan got the last laugh as “Comedian” sold for $6.24 million, including $1 million in fees. The buyer was soon revealed to be Justin Sun, a 34-year old cryptocurrency platform founder from China and based in Switzerland. And while some who have capitalized on those assets will inevitably purchase art, artworks themselves have their own rates of return that depend more on evolutions in taste that don’t correlate with wider macroeconomic trends. Sun, the “Comedian” buyer, used his own cryptocurrency, TRX, to make the purchase, Sotheby’s said.
Persons: , Maurizio Cattelan, Cattelan, Justin Sun, Sun, ” Sun, ” David Galperin, Sun’s, Alex Glauber, , ” Glauber, Leonardo da Vinci’s “ Salvatore Mundi ”, Glauber, Duchamp, Marcel Duchamp, Jianping Mei, Michael Moses, JP Mei, ” Moses, “ It’s, Moses, Sotheby’s, CoinMarketCap, Robb, Robert Allen Organizations: Basel, Association of Professional Art Advisors, The New York Times, Moses Art Market Consultancy, NBC News, Sun Locations: Italian, Miami, China, Switzerland, Americas, South Florida, millennials, Europe, South America
This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.
Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin
Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. "Welcome to America's most pro-crypto Congress ever," Armstrong wrote on X on Nov. 5.
Persons: Bernie Moreno, Moreno, Sen, Sherrod Brown, Tom Williams, Donald Trump, Coinbase, Crypto, Marc Andreessen, Ben Horowitz, David Sacks, " Moreno, Brian Armstrong, Fred Ehrsam, Faryar Shirzad, Armstrong, Ehrsam, Coinbase's Armstrong, Gary Gensler, Brown, Elizabeth Warren, FTX, Fairshake, gunning, Republican Jim Justice, Democratic Sen, Joe Manchin, Katie Porter, Porter, he'd, Horowitz, Sacks, Coinbase's Shirzad, Moreno wasn't, Shirzad, David McIntosh, McIntosh, hasn't, JD Vance's, Sam Bankman, Gensler, Andreessen Horowitz, Cameron, Tyler Winklevoss, Ripple, Chris Larsen, JD Vance, Paul Grewal, Jesse Powell, Trump, Phil Potter, Multicoin Capital's Kyle Samani, Fred Wilson, Charles Cascarilla, Mike Belshe, Solana, Anatoly Yakovenko, Wences Casares Organizations: Republican U.S, Cq, Inc, Getty, Democratic, Banking Committee, Public Citizen, Crypto, House, Securities and Exchange Commission, SEC, Senate, Committee, Republicans, Protect, Fairshake, Defend, Jobs, Republican, New, CNBC, Andreessen, Craft Ventures, Club for Growth, Growth, Politico, PAC, Labs, Senate Inc, Trump, Union Square Ventures, Xapo Bank Locations: Republican, Ohio, Holland , Ohio, Cleveland, Coinbase, U.S, Arizona, Michigan, West Virginia, California, Washington, FTX, Nashville , Tennessee
The bitcoin rally is generating a false sense of security among investors, according to the strategist behind the so-called granddaddy of gold exchange-traded funds. State Street Global Advisors' George Milling-Stanley warns cryptocurrency plays don't offer the stability of gold. Milling-Stanley's comments came as his firm's SPDR Gold Shares ETF (GLD) celebrated its 20-year anniversary this week. It is the world's largest physically backed gold ETF, and it's up more than 30% in 2024. "But they called it mining because they wanted to seem like gold — maybe take some of the aura away from the gold."
Persons: George Milling, Stanley, cryptocurrency, It's Organizations: Street Global Advisors
AdvertisementA Florida man scammed a woman out of $250,000 by posing as Elon Musk, police say. The scam involved a fake Facebook account promising high returns on investments. A Florida man pretending to be billionaire Elon Musk on Facebook scammed an older woman out of over $250,000, police say. The 74-year-old victim befriended someone named "Elon Musk" on Facebook in 2023, police said. AdvertisementThe fake Musk account promised the woman a $55 million investment return.
Persons: Elon Musk, Jeffrey Moynihan, Jr, Dave Chappelle's, Moynihan, Elon, Musk Organizations: Facebook, Bradenton Police Department, Bradenton, SpaceX Locations: Florida, Texas, Hong Kong, Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto Boom Drives Investment Opportunities, With Coinbase and Robinhood Leading the ChargeDevin Ryan of Citizens JMP and Sarah Kunst of Cleo Capital discuss the surge in crypto interest, with Ryan noting growth in volumes and opportunities in payments and stablecoins, while Kunst highlights increasing institutional interest and potential acquisitions in the crypto space. Both see strong growth ahead for companies like Coinbase and Robinhood.
Persons: Devin Ryan, JMP, Sarah Kunst, Cleo Capital, Ryan Organizations: Cleo, Kunst
There are thousands of altcoins on the crypto market that are smaller, cheaper, younger and less sophisticated than the blue-chip bitcoin. "It has not been alone … crypto coins across the board have exploded higher in recent weeks. The riskiest business At the furthest end of the risk spectrum are meme coins like dogecoin , whose trading ballooned after the election . "I'd urge long-term investors to not place too much emphasis on meme coin activity — easy come, easy go," said Ryan Rasmussen, an analyst at Bitwise Asset Management. "While meme stocks such as Gamestop and AMC are a small part of the equity market, meme coins are a larger part of the crypto market and represent an outsized share of volume."
Persons: Gary Gensler, They've, bitcoin, Wolfe, Rob Ginsberg, it's, Mike Novogratz, Wolfe's Ginsberg, Donald, they've, Ryan Rasmussen, Zach Pandl, John Todaro, Robinhood, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, Trump, Galaxy Digital, Solana, Bitwise Asset Management, lotto, Grasycale Investments, Gamestop, AMC, Robinhood Locations: overbought, bitcoin
The Trump trade showed its resilience this week
  + stars: | 2024-11-22 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
Small-cap stocks were one of the biggest winners on Wall Street this week, serving as a prime example that the Trump trade is alive and well after a brief pause . Small caps were not the only components of the Trump trade that had strong gains this week. According to Tom Fitzpatrick, managing director at R.J. O'Brien & Associates, all signs point toward the Trump trade staying strong. Tesla, other stock components of the Trump trade Electric vehicle stock Tesla advanced nearly 10% this week. "I believe energy still has a lot to prove and the Trump trade didn't work out as well as investors thought it supposed to over his first term."
Persons: Trump, Russell, Donald Trump, Tom Fitzpatrick, Fitzpatrick, Bitcoin, Gary Gensler, Tesla, Elon Musk, Vivek Ramaswamy, Halliburton, Jay Woods, Woods Organizations: Nasdaq, Dow Jones, Investors, Trump, Tesla, Trump Media & Technology Group, Halliburton, U.S . Steel, O'Brien & Associates, CNBC, U.S, Securities and Exchange Commission, Freedom Capital Markets . Energy
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. "If someone bought or if the Bluesky company went down, everything is open source." [PRO] Focus on Nvidia's BlackwellDespite Nvidia's revenue growth rising at a slower pace each subsequent quarter, analysts are still optimistic on the stock.
Persons: Donald Trump, Michael Novogratz, Trump's, Trump, Bluesky, Jay Graber, Nvidia's Blackwell, Blackwell, Colette Kress Organizations: CNBC, U.S . Department of Justice, Google, Chrome, JD Sports, Galaxy Digital, U.S . Federal Reserve, Elon, Nvidia Locations: British
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hitting $1 million could be on the horizon, says x2B co-founder Michael Bresslerx2B Co-Founders Michael Bressler and Benoit Bosc joins 'Closing Bell Overtime' to talk bitcoin's record rally, the x2B platform, managing risk in the crypto space and more.
Persons: x2B, Michael Bressler x2B, Michael Bressler, Benoit Bosc
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