Need to Know: JPMorgan strategist is wary of hydrogen and cryptocurrencies alike
Stocks are pointing south as investors mull that hefty jobs rise and any implications for Fed hikes, as consumer price data looms for later this week.
“Some hydrogen use cases make sense, but energy investors are pricing in a lot more than that, and that’s how I feel about crypto valuations too. Some crypto use cases will endure, but valuations assume broader and faster adoption,” said Cembalest. Cembalest tackled bitcoin’s use as a store of value, arguable given a world awash in debt. He wants to see more proof of wider adoption and for volatility around the crypto settle down into a “range consistent with store-of-value investing.” Bitcoin needs to either go up or remain stable when systemic risks or inflation are rising to compete with gold.
counting on from the beginning. I would take another look if crypto valuations and the companies linked to them plummeted to deeply distressed values. But until then, the most widely discussed use cases and the valuations at which they’re trading are still the ‘stuff that dreams are made of.'”The buzz Spirit Airlines SAVE, +0.18% and Frontier Group ULCC, -1.43% are merging in a $6.6 billion cash-and-stock deal.
Ottawa’s mayor has declared a state of emergency over the “freedom truck convoy” protesting COVID-19 restrictions that has paralyzed the city’s downtown.
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