I'm fairly certain Coinbase is a leading target for Bill Ackman's SPAC ($PSTH), so this is interesting timing for all here. Coinbase is likely particularly sensitive to negative stories and possible regulatory action right now.
The total market cap of all crypto assets is less than the market cap of Tesla right now.
If they are remotely right that bitcoin is a liquid inflation protected asset then the demand for such an asset should increase in a world of more and more QE from central banks.
It's the anticipation of more monetary action...the Fed Balance Sheet peaked in June but yes has been rising slowly lately.
Assets have been rallying across the board after Biden looked like he was going to win. The theory is that because it appears the Republicans will still hold on to the Senate, the government will effectively be gridlocked and the Fed will have no choice but to increase asset buying in absence of big fiscal stimulus.
You can see that in rates crashing Tuesday/Wednesday after rising in anticipation of a "Blue Wave" that never happened and risk assets increasing across the board.
I'm probably in the minority here but I often think about preventative care like exercise and eating healthy now as insurance against a future where I'd be stuck in a nursing home in my final years.
FWIW, Google was the only big tech co to see a revenue decline YoY in Q2.
They have a valuation of around 1T, which is now less than half Apple, and a third less Amazon.
Search has naturally become less essential to accessing the internet when people are spending more and more time on closed platform native apps, streaming services, gaming, etc. They seem to have put all their eggs in the search basket, which looks risky in a world where the most popular platforms keep people off the open internet.