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Assets

COIN

HOOD

TOST

Ark Invest, led by Cathie Wood, sold over $1.4 million worth of Coinbase (COIN) shares and purchased additional shares of Robinhood (HOOD). The transactions occurred as Bitcoin (BTC) trades above $40,000, indicating a bullish crypto market. Ark's trades through its ETFs ARKK and ARKF suggest a strategic portfolio adjustment in the fintech and cryptocurrency sectors. The firm also invested in Toast Inc (TOST) and PagerDuty Inc (PD), reflecting confidence in digital payment, restaurant technology, and cloud computing.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 3:30 am

SHIBUSD

Shiba Inu's (CRYPTO: SHIB) burn rate has soared by 40,000% as over 8 billion SHIB tokens were removed from circulation in 9 hours. This surge in token burning aligns with Shibarium's Layer-2 blockchain surpassing 30 million transactions. Despite initial delays, the development of Shibarium continues, aiming for a bug-free ecosystem. SHIB's price has risen by 1% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

December 05, 2023 | 3:09 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced significant surges amid a weak dollar and anticipation of lower interest rates. Bitcoin's rise is attributed to panic buying and FOMO, with Matrixport noting an increase in bitcoin perpetual futures premium. The global crypto market cap increased by 3.58% to $1.54 trillion. Stocks declined, with the S&P 500 and Nasdaq Composite falling by 0.54% and 0.84%, respectively. Big Tech shares were sold off, while Bitcoin and gold rallied. Investors speculate on a potential Fed interest rate cut despite Chairman Powell's cautioning. Analyst Michael Van de Poppe suggests Bitcoin could reach $47K-$50K pre-spot ETF approval, with altcoins expected to run in Q1 2024.

Portfolio Pulse from Mehab Qureshi

December 05, 2023 | 2:29 am

MSTR

Dogecoin (DOGE) has seen a 16.3% increase over the past week, coinciding with broader cryptocurrency market strength. Bitcoin's surge past $40,000, following MicroStrategy's purchase of 16,130 Bitcoins, has positively influenced altcoins, including Dogecoin. The SEC's consideration of a rule change for a Fidelity Ethereum ETF also suggests growing institutional interest in cryptocurrencies, which could further boost altcoin prices like Dogecoin.

Portfolio Pulse from Henry Khederian

December 05, 2023 | 12:10 am

BTCUSD

Bitcoin (BTC) has seen a significant increase in 2023, with a 150% year-to-date rise and recent 52-week highs. Despite this, it remains below its all-time high of $68,789.63. A $100 investment in Bitcoin at the current price could yield a 64.4% return if it returns to its all-time high. Factors such as macroeconomic events, potential Bitcoin ETFs, and endorsements from figures like Cathie Wood of Ark Funds, who predicts Bitcoin could exceed $1 million, influence its valuation.

Portfolio Pulse from Chris Katje

December 04, 2023 | 11:21 pm

BTC-USD

ETC-USD

MSTR

Ethereum Classic (ETC) has seen a 7.8% increase over the past week, amidst a broader cryptocurrency market strength. Bitcoin (BTC) soared above $40,000 after MicroStrategy purchased 16,130 Bitcoins, reinforcing investor trust in cryptocurrencies. The SEC is considering a rule change for a Fidelity spot Ethereum ETF, indicating growing institutional interest in crypto. While not directly impacting Ethereum Classic, these developments could boost sentiment for ETC as well.

Portfolio Pulse from Henry Khederian

December 04, 2023 | 10:23 pm

BTCUSD

COIN

MSFT

TSLA

Crypto analysts and industry leaders predicted a significant rebound in Bitcoin and other cryptocurrencies, despite the recent market downturn. Standard Chartered predicted Bitcoin reaching six figures by 2024, Matrixport foresaw a rise to $56,000 by year-end, and Tim Draper maintained a $250,000 target by 2025. Samson Mow suggested Bitcoin could hit $1 million in five years, while Mike Novogratz eyed a $500,000 target. ARK Invest's Cathie Wood envisioned Bitcoin reaching up to $1.5 million, and Coinbase CEO Brian Armstrong hinted at a potential rally due to institutional FOMO.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 10:23 pm

ETCUSD

ETHUSD

The article discusses Ethereum's (ETH) potential to make investors millionaires if it returns to its all-time high. Ethereum, launched in 2015, has seen significant events like the Ethereum 2.0 fork, interest in NFTs, and a transition from proof-of-work to proof-of-stake. Despite the 2022 crypto company bankruptcies, Ethereum's price is up 12% over the last week and 80% YTD in 2023. To become a millionaire at Ethereum's all-time high, an investor would need 204.43 ETH, costing $456,338.87 today. However, there's no guarantee of Ethereum's price increase.

Portfolio Pulse from Chris Katje

December 04, 2023 | 10:12 pm

MCO

Over the past 15 years, Moody's (NYSE:MCO) has produced an average annual return of 20.71%, outperforming the market by 9.23% on an annualized basis. A $1000 investment in MCO 15 years ago would be worth $16,138.97 today. Moody's currently has a market capitalization of $68.43 billion.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 9:30 pm

CTSH

Over the past 20 years, Cognizant Tech Solns (NASDAQ:CTSH) has produced an average annual return of 13.39%, outperforming the market by 5.91% annually. A $100 investment in CTSH 20 years ago would be worth $1,265.91 today. The company currently has a market cap of $35.68 billion.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 9:30 pm