Investment briefing
Katana & Wakizashi
Once again, the price of bitcoin is on the tear, encouraged by the launch of SEC-registered exchange traded funds, led by BlackRock’s iShares Bitcoin Trust. That, a cap on interest rate rises (making risk assets more attractive versus plain old cash) , the ubiquitous ‘halving’ event (which cuts the reward for mining Bitcoin transactions in half, artificially reducing new supply at roughly four-year intervals) and rumours of potential Russian sanctions dodging, have propelled the cryptocurrency to new highs.
Investment briefing
The approval of vaccines to counter the misery of COVID-19 has driven equity markets higher into the New Year as a hint of, whisper it, ‘normality’ can be glimpsed on the horizon.
Investment briefing
The stock market, frequently an enigma, has played a blinder. As countries around the world queue up to report their worst ever falls in economic growth, equities have been rising.