While equity markets were closed Friday afternoon through Monday AM, crypto got absolutely hammered with selloffs across the board (...thx, China). Great to know we can lose money 7 days a week in 2021. If you're looking to buy the dip, check out today's sponsor, Grayscale.
Special shoutout to Phil Mickelson for winning the PGA Championship at age 50. This is a great way to assure Tiger Woods comes back and wins another major.
We've contacted the winner of our Perfect Practice putting mat giveaway! Thx all for participating. More giveaways to come in the near future.
Let's dive in.
Before The Bell
As of 5/21/21 close.
Click here to download the Iris Social Stock app and see the LitCap Yolo Fund's portfolio holdings.
Stocks globally have lost some steam as riskier investments like Bitcoin and growth/tech stocks have declined after rallying all last year/earlier this year
Gold is near its 4 month high as investors weigh inflation risks and spikes in covid cases in some countries (cc: @Bitcoin, take notes)
Cryptocurrencies got pimp smacked after Beijing cracked down on bitcoin mining and trading
This is big because mining is huge in China and is said to account for up to 70% of the world’s crypto supply
Fed to publish paper on digital currency this summer (WSJ)
Virgin Galactic completed its first spaceflight in two years; CEO said ‘it was flawless’ (CNBC)
Home prices continue to rise, up 19% in April from a year earlier, highlighting limited supply (WSJ)
Senators reach bipartisan agreement on $300B for highways, roads, and bridges (CNBC)
Report published that three Wuhan virology lab workers sought hospital care from unknown illness shortly before Covid outbreak (WSJ)
Bitcoin resumes selloff over weekend, falls below $32,000 (CNBC)
Ethereum closes in on long-sought fix to cut energy use over 99% (BBG)
Phil Mickelson won the PGA Championship at 50 years old, becoming the oldest major champion in history (WSJ)
A Message From Grayscale
Starting to get Bitcoin FOMO? That’s okay. Grayscale Bitcoin Trust (symbol: GBTC) can be found right in your brokerage account.
As the world’s largest Bitcoin fund and the first and only SEC-reporting Bitcoin investment vehicle, GBTC offers a simpler way for you to invest in Bitcoin. You can start your Bitcoin investing origin story with GBTC (and maybe even give your friends a bit of FOMO along the way).