Is Bitcoin a “Trump Trade”?

Is Bitcoin a “Trump Trade”?

The cryptocurrency surged above $71,000 for the first time since June, supported by strong inflows into dedicated ETFs and speculation about the upcoming election. Ether and Dogecoin also rose with the bitcoin tide. Some market participants view bitcoin as a “Trump trade” due to former President Donald Trump’s pro-digital asset stance during his campaign. With Trump ahead in prediction markets amid a tight race against Democratic candidate Kamala Harris, investor interest in Bitcoin is intensifying.

Alphabet Astroturf Accusations

Microsoft [MSFT] has accused Alphabet’s [GOOGL] Google of conducting “shadow campaigns” aimed at undermining its standing with regulators and politicians, the Financial Times reported. Microsoft’s Deputy General Counsel Rima Alaily stated in a blog post that Google has been secretly backing a lobbying group, the Open Cloud Coalition, allegedly intended to “discredit Microsoft” and “mislead the public”. Alaily called the group “AstroTurf”: a corporate-sponsored, pseudo-grassroots organization. 

TDK Expands Formula E Push

Apple [AAPL] supplier TDK [TTDKY] has partnered with McLaren Racing in the Formula E electric motor racing series. Once known for its cassette tapes, TDK is now the world’s largest smartphone battery supplier, and is seeking growth in the electric vehicle sector by expanding into passive components and sensors. TDK technology powers the Nissan [NSANY] e-4ORCE 05 cars used by McLaren, and TDK is exploring supplying other components such as inverters and sensors, Reuters reported.

Is NVO on Track to Overtake LLY?

Novo Nordisk [NVO] has lagged behind Eli Lilly [LLY] this year in the competition for stock market gains from obesity drugs, but analysts are forecasting a potential turnaround. Eli Lilly’s obesity drug Zepbound, introduced less than a year ago, has reached over half the sales of Novo Nordisk’s Wegovy, propelling Eli Lilly’s stock up 54% this year. In contrast, Novo Nordisk has seen its shares fall 25%. Head over to OPTO’s ForesightSubstack channel for a deep dive into the differences between the two stocks.

Data Centers: Not So Bad After All?

Speaking to the Financial Times, Kim Fausing, CEO of Danfoss — a Danish company that provides data center cooling — said data centers could become key contributors to urban heating solutions, provided they are strategically located. Fausing noted that Frankfurt, for instance, could fulfill its heating requirements by utilizing excess heat from data centers by the end of this decade. Fausing shared these insights ahead of a Nordic energy summit attended by companies like Google, EDF and Siemens [SIEGY].

Fink Speaks in Riyadh

At Saudi Arabia’s Future Investment Initiative on Tuesday, Larry Fink, CEO of BlackRock [BLK] — which has a new Riyadh-based investment arm — highlighted the capital needed for digitization and decarbonization. Fink noted that there is “$9trn sitting in money markets” that could fuel equity markets despite high price-to-earnings ratios. He questioned the assumption that higher interest rates slow the US economy, suggesting demographic shifts and long-term fixed-rate mortgages have altered economic responses to rate hikes.

QCOM Stock: Why is Qualcomm in a Battle with Arm?

Semiconductors manufacturer Qualcomm [QCOM] ramped up its artificial intelligence smartphone push last week with a new processor that boasts better speed and performance. However, a legal battle with long-time design partner Arm [ARM] could put QCOM stock under pressure over the next few months. OPTO explores how the case could impact both QCOM’s performance and the supply of the devices the firm produces.