The global economy and coronavirus connection |
 
 
BEYOND BITCOIN
Crypto & More

Happy Monday! Over the last seven days, these headlines caught our eye:
Trump & Bloomberg Playing In The Regulatory Sandbox

Virgin Galactic Stock Is Mooning

Alex Jones On The ‘Power Of Fire’ From The Gods

50, Snoop And Talib All Bought The Dip

China Quarantines Banknotes

Gold Pumps & Dow Dumps
Regulatory Developments in the U.S
Politicians are busy signaling once again that they have the means to create coherent regulation for cryptocurrencies, with Donald Trump proposing a $127 million dollar budget for Financial Crimes Enforcement Network. Meanwhile, Democratic nomination hopeful Michael Bloomberg providing his own regulatory framework for cryptocurrencies as part of his financial reform plan.
Virgin Galactic Stock up 300% in 3 months
Virgin Galactic, the space arm of Richard Branson’s empire, has been on a crazy rally recently. The company’s stock (NYSE: SPCE) jumped over 23% on Wednesday, closing at a new record high of $37.35 after its best day of trading ever.

It has since retraced slightly, closing trading Friday at $33.87, but it’s recent rise had investors drawing comparisons not only to SpaceX but another Elon Musk creation – Tesla.
"I don’t like infighting" - Alex Jones
Alex Jones compared Bitcoin to a "power of fire" gifted from the gods to humankind. The bold commentary took place in the context of a Max Keiser interview, in which the Keiser Report host declared a new $400,000 target for bitcoin. The two discussed the freedom-forged properties of the permissionless money, the global economy, and the coronavirus connection.
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Get Rich or Die Trying
50 Cent, Snoop Dogg and Talib Kweli all sold albums for BTC, but when cryptocurrency prices skyrocketed, 50 Cent told the public he sold his coins as soon as he got them. Many other celebrities from Hollywood and the music industry have used digital assets to help bolster their marketing efforts. Are these celebs sitting on stacks of digital cash?
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UV Light & High Temperatures to Disinfect Yuan
China is currently combating the coronavirus which has killed more than 1,500 people and infected more than 66,000 people in the country. The government is now scrubbing and quarantining banknotes to stop the spread of the deadly virus by touching the bills. The central bank, the People’s Bank of China (PBOC), explained that banks use ultraviolet light or high temperatures to disinfect yuan bills. They are then sealed and stored for seven to 14 days, depending on the severity of the outbreak in a particular area, before being recirculated.

As for the impending launch of a central bank digital currency, the PBOC has reportedly filed 84 patents relating to its digital yuan.
7 Year Gold Highs & the Dow Falls off a Cliff
It was quite a week for the markets as Gold continued to trend upwards, seeing seven-year highs, approaching the $1648 mark this week. But it wasn’t all good news for the financial markets as the Dow Jones Industrial Average (DJIA) suddenly Dow Jones Industrial Average (DJIA) suddenly and somewhat inexplicably crashed 400 points, leaving investors looking for answers.
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