Kicking off a new week of trading, here is a recap of the top five stories presented by Benzinga over the weekend that investors wouldn’t want to miss.
1. Vitalik Buterin on El Salvador and Bitcoin: Ethereum (CRYPTO: ETH) co-creator Vitalik Buterin spoke out against manufacturing Bitcoin (CRYPTO: BTC) mandatory use for traders and businesses in El Salvador.
The cryptocurrency creator has also strongly criticized BTC maximalists’ support for the country’s president Here is a preview. He said Bukele’s decision on BTC was partly driven by politics.
“Bitcoin maximalists are a very easy community to get to congratulate you: you just need to be in a position of power and do or say nice things about them and their coin. “
2. Michael Burry is not impressed with SHIBA INU: Hedge fund manager and physician Michael Burry said there were too many SHIBA INU tokens in circulation.
According to a now deleted tweet, he said, “I’m just saying that a quadrillion seconds equals about 32 million years. One quadrillion days is 2.7 trillion years, or ALL THE TIME, since the universe began, multiplied by 71,000. In other words, unnecessary. “
See also: ‘The Big Short’ Fame’s Michael Burry Takes A Bearish Position On Bitcoin After Earlier Warning On ‘Mother Of All Crashs’
Burry has in the past warned of the hype surrounding BTC, stocks of memes and other assets that have skyrocketed in recent times.
3. Alibaba flies to Hong Kong: Chinese names of technology and e-commerce, including Alibaba Group Holding Limited (NYSE: BABA) soared in Hong Kong on Monday as investors felt the worst of the regulatory crackdown by Chinese authorities on this foreground was now behind them.
4. Goldman cuts the US forecast: Sunday, the economists of Goldman Sachs reduce the US growth rate to 5.6% from an earlier estimate of 5.7% for the current year on an annual basis.
“After updating our estimates of the main growth impulses that drive our consumption forecasts – reopening, fiscal stimulus, accumulated savings and wealth effects – and incorporating a more lasting virus on spending on virus-sensitive consumer services, we now expect a later recovery in consumer spending, ”the economists wrote in a report.
Goldman forecasts a 4% growth rate for next year, which is unchanged from the previous estimate.
5. No to Tesla electric vehicles made in China in India: Indian Transport Minister Nitin Gadkari said Tesla Inc (NASDAQ: TSLA) should not be looking to sell Chinese-made electric vehicles in the South Asian country.
The minister’s remarks come against a backdrop of tensions between the two Asian giants who have been simmering for months on border disputes.
Tesla’s foray into India is delayed as the company continues to negotiate disputes, but the Indian government has expressed willingness to discuss tax breaks. India has one of the highest import duties in the world on fully built vehicles.