Categories: General Market Commentary- DPC
Topics: General Market Commentary- DPC

Crypto Wins and Record Temps

Since last week: 

It’s been a hot summer marked by climate disasters. The issue is becoming more prevalent and will likely be a massive influence on policy both in the near- and long-term. 

1. A Crypto Victory 

Grayscale Investments recently scored a legal victory in its quest to launch a Bitcoin ETF. The decision is a blow to the SEC’s recent work to rein in cryptocurrencies while giving the sector some momentum in its recent push to appeal to more investors. The SEC is likely to appeal the decision, but for now things look to be in cryptocurrency’s favor. You can learn more about what lies ahead from crypto expert Chris Curl during an upcoming wealth summit where he will offer his insights. 

2. Hottest Summer (So Far)

The months of June, July, and August 2023 were the warmest on record. Heat waves and other extreme weather events dominated the news cycle, highlighting the need for something to be done about getting away from fossil fuels. Adopting renewables like solar power is one solution, which is why you’ll likely hear more about it. This is good news for companies that produce copper and the investors who back those companies. 

3. The EV Tipping Point

Global electric vehicle adoption has passed 5% in 19 countries recently, signaling the possible start of mass adoption. The early adopter phase for the technology seems to have passed, and it’s ready to go mainstream. This is going to cause a boom in the lithium market and you’ll want to get in on the right investment. 

4. An Air Force Base Goes Nuclear

Officials have chosen a contractor to install and operate a small nuclear reactor at Eielson Air Force Base in Alaska. Oklo Incorporated will need to complete the licensing process before the microreactor can go online, and the entire process will take about five years. But this is a big step in the military helping to address climate change, which is something it sees as a priority. As this becomes more common, uranium demand is going to surge. 

What to Look For:

Economic conflict between the US and China is heating up. Now, China has supposedly gotten a hold of banned chip technology for a new flagship phone sold by state-run Huawei. The Biden administration will have to respond, and that could have a big effect on markets. 

Ryan Stancil
Editor, Daily Profit Cycle