Cryptocurrency
The Bitcoin Surge Post-Election: A Cryptocurrency Phenomenon
2024-12-06
Bitcoin, the digital currency that has been making waves, has seen a remarkable surge in value. It surged more than 40% since Election Day and reached an unprecedented $100,000 on Wednesday. This has led to a significant increase in total returns, with people witnessing over 100% growth. The reason behind this surge is attributed to President-elect Donald Trump's interest and support for crypto. However, it has left many Americans wondering if it's too late to get a piece of the bitcoin.

Perspectives on Bitcoin Investment

Is It Too Late?

Mike Douglas, the President of LifePlan Financial Design, believes that while it's too late to get the full run-up, there are still opportunities. He emphasizes that making a risk investment like bitcoin is highly speculative, with days of both extreme gains and losses. "Is it too late? To get the full run up, yeah it is too late but there are still opportunities. To make a risk investment like that is very speculative and so there is going to be days when it’s really bad and days when it’s really good," said Douglas.

The Impact of the Federal Reserve

Tom Shohfi, a Professor of Finance at Wayne State University, highlights the role of the Federal Reserve. "We’re talking about a run up from the 70,000s now to over 100,000. I think it’s just been riding momentum, there have been a lot of things that have happened since the election, today for example, the chairman of the Federal Reserve came out and said bitcoin is digital gold which is a very positive comment by the Federal Reserve chair," said Shohfi. This positive comment from the Federal Reserve has further fueled the growth of bitcoin.

Mid-Michigan's Perspective

People in Mid-Michigan remain wary of cryptocurrency due to its online nature. "When people have FOMO, the fear of missing out on the biggest thing, or the old phrase pigs get fed and hogs go to slaughter, we don’t want to overly weigh towards a highly risky investment even though it’s doing well. You have to be appropriate about how you invest it," said Douglas. This shows the cautious approach of the local community towards bitcoin.

Risks and Recommendations

Experts stress the importance of not investing money that one can't afford to lose. "The downside is that it’s not like putting your money in the bank, it’s extremely volatile, the prices go up a lot, the prices go down a lot. I would say a small percentage of your portfolio would be a good thing but don’t get too aggressive otherwise you could really get hurt if we see a lot of pullback," said Shohfi. They also recommend getting informed before investing in crypto.Subscribe to our News 10 newsletter and YouTube page to receive the latest local news and weather. Looking to hire people, or grow your business through advertising? Gray Digital Media is your one-stop marketing solution. Learn more.Copyright 2024 WILX. All rights reserved.
Trump Appoints David Sacks as White House AI & Crypto Czar
2024-12-06
President-elect Donald Trump made a significant announcement on Thursday via Truth Social. He revealed that venture investor and podcaster David Sacks will be joining the Trump administration in this crucial role. This appointment holds great importance as Sacks is set to guide the administration's policies for both artificial intelligence and cryptocurrency.

Significance of the Appointment

Some of the key tasks assigned to Sacks include creating a legal framework for crypto. He will also lead a presidential council of advisors on science and technology. Trump emphasized that Sacks will focus on making America the clear global leader in both these areas. Additionally, he will safeguard free speech online and steer the country away from Big Tech bias and censorship.

Reasons for the Appointment

This appointment signals that the second Trump administration is rewarding Silicon Valley figures who supported his campaign. It also indicates that the administration will push for policies that cryptocurrency entrepreneurs generally support. Sacks himself became a major Trump booster earlier this year by hosting a fundraiser at his San Francisco mansion. Tickets for the fundraiser sold for a hefty $50,000 per head, with a $300,000 tier that included perks like a photo with Trump. This was a stark change of tone for Sacks, who was previously sharply critical of Trump after the Capitol riot on Jan. 6, 2021. Soon after, he said on an episode of his All-In podcast that Trump was "clearly" responsible for the events and had "disqualified himself from being a candidate at a national level."

David Sacks' Background

David Sacks is a highly accomplished venture capitalist and entrepreneur. He sold Yammer to Microsoft for $1.2 billion in 2012. He is affiliated with the "PayPal mafia," an unofficial club of prominent technology figures and investors including Elon Musk and Peter Thiel, who worked at PayPal in the 1990s. In recent years, he has been best known for hosting the All-In podcast alongside fellow investors Chamath Palihapitiya, Jason Calacanis, and David Friedberg. Trump referred to it as the "top podcast in Tech," where he and his friends discuss economic, political, and social issues.
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Underoath's "Generation No Surrender" from 20th Anniversary Tour
2024-12-06
Floridian metalcore band Underoath is in the midst of their 20th anniversary celebration for their gold-certified fourth album, "They’re Only Chasing Safety". They continue to release brand new singles, and today's offering is "Generation No Surrender". Vocalist Spencer Chamberlain had the following to share:

"The Inspiration Behind 'Generation No Surrender'"

"We aimed to create a song that would be a crowd-pleaser during live performances - something with the power to move an entire room and make us all connect. This song is written from the perspective that if we were told the world was ending and the apocalypse was upon us, we wouldn't be shocked or run away. Instead, we'd face that battle head-on. I think we've reached a stage in our lives where nothing surprises us anymore. We've all witnessed and endured a great deal, and I worry that we're often not told the truth. That really gets to me. I'm sure it gets to all of us, which is why I believe we are all part of Generation No Surrender. It's not just about age; it's about all of us coming together."

"Details of the 20th Anniversary Tour"

The remaining dates of this month's 20th anniversary tour with Static Dress are as follows:On 12/06 in Stroudsburg, PA - The Sherman Theater.On 12/08 in Richmond, VA - The National (feat. Francis Doom).On 12/09 in Asheville, NC - The Orange Peel (feat. To Speak Of Wolves).On 12/10 in Charlotte, NC - The Fillmore (feat. Codeseven).On 12/12 in Atlanta, GA - The Tabernacle (feat. He Is Legend performing "I Am Hollywood").On 12/13 and 12/14 in Tampa, FL - Jannus Landing.On 12/15 and 12/16 in St. Petersburg, FL - Jannus Live (feat. The Handlers).The 20th anniversary celebration will also extend into the new year with shows in Australia alongside Alexisonfire:On 03/06 in Perth, AUS - HBF Stadium.On 03/08 in Brisbane, AUS - Riverstage.On 03/11 in Sydney, AUS - Hordern Pavilion.On 03/14 in Melbourne, AUS - Festival Hall.After that, Underoath will embark on a tour with Papa Roach (celebrating 25 years of "Infest") and Rise Against:On 03/20 in Houston, TX - Toyota Center.On 03/22 in San Antonio, TX - Frost Bank Center.On 03/23 in Dallas, TX - American Airlines Center.On 03/25 in Phoenix, AZ - Talking Stick Resort Amphitheatre.On 03/26 in San Diego, CA - Gallagher Square at Petco Park.On 03/28 in Los Angeles, CA - The Kia Forum.On 03/29 in Sacramento, CA - Golden 1 Center.On 03/31 in Portland, OR - Veterans Memorial Coliseum.On 04/01 in Seattle, WA - Climate Pledge Arena.On 04/03 in Salt Lake City, UT - Maverik Center.On 04/05 in Las Vegas, NV - MGM Grand Garden Arena.On 04/07 in Denver, CO - Ball Arena.On 04/09 in Kansas City, MO - 2 T-Mobile Center.On 04/10 in Omaha, NE - CHI Health Center.On 04/12 in Green Bay, WI - Resch Center.On 04/13 in Saint Paul, MN - Xcel Energy Center.On 09/10 in Bridgeport, CT - Hartford HealthCare Amphitheater.On 09/11 in Syracuse, NY - Empower FCU Amphitheater.On 09/13 in Wantagh, NY - Northwell at Jones Beach Theater.On 09/14 in Mansfield, MA - Xfinity Center.On 09/16 in Washington DC - The Anthem.On 09/17 in Virginia Beach, VA - The Dome.On 09/19 in Allentown, PA - PPL Center.On 09/20 in Bangor, ME @ Maine Savings Amphitheater.On 09/23 in Cincinnati, OH @ PNC Pavilion.On 09/24 in Maryland Heights, MO - Saint Louis Music Park.On 09/26 in Indianapolis, IN - Everwise Amphitheater at White River State Park.On 09/27 in Tinley Park, IL - Credit Union 1 Amphitheater*.On 09/28 in Clarkston, MI - Pine Knob Music Theatre.On 09/30 in Rogers, AR - Walmart AMP.On 10/01 in Franklin, TN - FirstBank Amphitheater.On 10/03 in Charlotte, NC - Skyla Credit Union Amphitheatre.On 10/04 in Tampa, FL - MIDFLORIDA Credit Union Amphitheatre.On 10/05 in West Palm Beach, FL - iTHINK Financial Amphitheatre.
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