Bitcoin began last Thursday down more than 7% as investors pulled their money out of the cryptocurrency following Russia’s invasion of Ukraine. The massive invasion also prompted investors to divest from stocks. However, both the crypto market and the stock market bounced back to end the week as bargain-seekers swooped in to take advantage of irresistibly low prices.
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Timestamps:
0:00 Intro
1:50 What’s your take on this past week, given the events in Russia? A banter on recent events.
Crypto/NFT
4:38 Russian banks were restricted on the worldwide SWIFT payment system. What kind of impact does this have on Bitcoin and the crypto space?
7:00 Even though Russia has been making crypto-friendly overtures and creating a favorable environment for crypto mining, there are still some question on whether it is truly bullish on the crypto industry. Anthony gives an assessment.
Cannabis
8:40 Curaleaf Holdings came out in its defense by itself by refuting Russian ties allegations that had been circulating on social media. The stock noticeably underperformed in the morning session on Friday, but stemmed the bleeding in the afternoon to finish in range with its peer group. Benjamin A. Smith and Anthony Varrell give an assessment.
12:35 The whole Curaleaf Holdings situation shows the need for MSOS component companies to migrate to major U.S. exchanges as soon as possible.
13:55 The sector still looks quite vulnerable right now, given MSOS non-participation in Friday’s broad market follow-on rally. Earnings season coming up and there’s a potential for soft fourth quarter financial results.
15:09 Both Benjamin A. Smith and Anthony Varrell are taking a defensive posture in the market right now.
Psychedelics
17:40 Cathy Wood keeps buying atai Life Sciences and the current geo political events don’t appear to be dissuading her adding to her position.
19:56 Utah lawmakers sent a bill to the governor that would create a task force to study and make recommendations on the therapeutic potential of psychedelic drugs and possible regulations for their lawful use. This is noteworthy because the state House and Senate are both solidly Republican. Medicinal psychedelics appears to be a bi-partisan issue.
23:55 Will legal psychedelic compounds be legalized on a medicinal level?
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27:15 Elon Musk says the company’s Starlink satellite broadband service is available in Ukraine and SpaceX is sending more terminals to the country, whose internet has been disrupted due to the Russian invasion. We discuss.
29:35 Where is Elon Musk 10 years from now and what is his legacy?
33:20 Michigan men’s basketball coach Juwan Howard was suspended five games and fined $40,000 for hitting Wisconsin assistant coach Joe Krabbenhoft in the face after Sunday’s game.
35:00 Finalizing
To view our previous Trade To Black Podcast 24, click here: https://youtu.be/HgcTmpfZiQw
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