Location: Remotely Date: Monday 25th January Company: lynalden.com Role: Macroeconomist
Since early January Bitcoin has been consolidating between $30k and $40k and the fundamentals and technicals remain strong. Grayscale has ceased their hiatus, MicroStrategy has added to their position during this time and, in early February, will be holding a conference for other corporations to go through their Bitcoin playbook.Since early January Bitcoin has been consolidating between $30k and $40k and the fundamentals, remain strong. Grayscale has ceased their hiatus, MicroStrategy has added to their position during this time and, in early February, will be holding a conference for other companies to explain their Bitcoin playbook.
However, the big story over the last couple of weeks has been Wall Street Bets, the Reddit community taking on Wall Street. These retail investors have picked highly shorted stocks such as GameStop and AMC and bought in huge numbers. Traders activated a massive short squeeze on GameStop, and at least two hedge funds have had to cover their positions at a considerable loss. During this period the GameStop price went from ~$19 to ~$460.
With retail traders desperate to take it to Wall Street, what is the eventual outcome, and what role has the COVID lockdowns and subsequent stimulus played in this?
In this interview, I talk to Lyn Alden, a macroeconomist and investment strategist. We discuss the Bitcoin price action, retail investors/WSBs and Lyn’s economic analysis of Ethereum.Â
