JPMorgan sees the commercialization of cryptocurrency with the rise of Bitcoin

Comments of the day

October 28, 2020

Video commentary for October 27, 2020

Eoin Treacy’s point of view

A link to today’s video commentary is posted in the Members Area.

Some of the topics discussed include: bitcoin outbreak, gold stability, oil stability, European equity markets rollover, capital-intensive speculative ventures continue to receive large capital, fintech moving towards outperformance.

Email of the day – about solar / wind energy to generate hydrogen

The Australian government has just approved the rapid tracking of the Asian Renewable Energy Hub (asianrehub.com) proposed to be built in the Pilbara. It will generate green hydrogen from water using solar and wind energy capable of producing clean ammonia to power ships, generate energy and be used as a power reserve for industrial processes. They say it will be the largest power plant in the world at 26,000 MW, covering 6500 square kilometers of land. Export will begin in 2028.

Eoin Treacy’s point of view

Thank you for this informative email. Among the challenges faced by renewable energy is the distance of primary wind and solar locations available from primary consumer markets. The only way to bridge this gap is to transport the energy produced where it is needed. The production of green hydrogen and ammonia is a solution to this challenge and both are value added products with a rapidly changing market.

JPMorgan sees the commercialization of cryptocurrency with the rise of Bitcoin

This article by Bill Peters for Investors Business Daily may be of interest to subscribers. Here is a section:

JPMorgan Chase’s digital currency is in commercial use for the first time, and the bank has built a new business around the technology behind the coin. This follows a rise in Bitcoin prices over the course of this month.

JPM Coin – a cryptocurrency launched by JPMorgan last year – “is being used commercially for the first time this week” by a large tech client, which the bank has not identified, CNBC reported Tuesday. The customer uses cryptocurrency for cross-border payments.

The bank has also created a new segment dedicated to cryptocurrencies and blockchain, the data recording technology that allows cryptocurrency transactions. That segment is called Onyx.

JPMorgan hopes blockchain can reduce errors and rejections in cross-border payments if banks are able to verify that account information is accurate and regulatory compliance, CNBC said. Such payments can slow down as they pass through the global banking system.

Takis Georgakopoulos, JPMorgan’s global head of wholesale payments, told CNBC that he believes the world is “transitioning to a commercialization period” of blockchain and cryptocurrency.

Eoin Treacy’s point of view

Banks issuing their own currency were relatively common until recent decades and the UK still has some vestiges of this practice. The ability of anyone with sufficient skills to create their own cryptocurrency is a testament to how far we are at the beginning of the digital money cycle. As it matures and governments show significant interest, the range of what’s possible is likely to hinge around government-sponsored digital currencies.

Rolls-Royce gets investor nod for sale of $ 2.6 billion stock

This article by Charlotte Ryan for Bloomberg may be of interest to subscribers. Here is a section:

The package aims to see Rolls-Royce through 2022, when the company plans to resume generating sufficient cash along with a gradual pick-up in air travel demand. Chief Executive Warren East also said the company may sell assets as it will reposition for the future.

“We didn’t want to jeopardize our shareholders’ business and interests by betting on next year’s situation, which is why we have chosen to use this package now,” the CEO said at an investor meeting.

Even with the financing secured, Rolls-Royce still faces an uphill road to recovery. The double-aisle planes supplied by the company are expected to take at least until 2025 to return to pre-pandemic levels, and the group has announced plans to cut 9,000 jobs.

Eoin Treacy’s point of view

The 10-for-3 rights issue will close on 11 November and will ensure Rolls Royce has enough capital to face the next two years, whatever happens. It’s a worst-case scenario funding increase and will take place in an environment of low interest rates and high liquidity.

Coronavirus: government throws ‘a lit match in a haystack’ by dumping Covid patients in nursing homes

This article from the Independent may be of interest to subscribers. Here is a section:

The government has been warned it is throwing a “match in a haystack” by dumping Covid-positive patients in nursing homes, with politicians demanding that the safety of residents and staff be ensured by the new policy.

During the first wave of the pandemic, some 25,000 hospital patients were sent to nursing homes – many of which have not been tested – which helped spread the virus among residents. Since the start of the crisis, around 16,000 nursing home deaths have been linked to Covid-19.

The strategy was one of the “biggest and most devastating mistakes” of the government crisis, says Amnesty International, and questions have been raised about the decision to introduce a similar policy as the UK’s second wave intensifies.

As part of the 2020 winter social care plan for adults, the government has called on local authorities and health professionals to set up “autonomous units” – so-called ‘hot houses’ – capable of receiving and treating patients of Covid hospital as they recover from the disease.

There is also the expectation that, due to housing pressures and a lack of adequate facilities, some patients may be discharged into “zoned housing” within a home before they can return to normal living conditions once time they test negative for the virus.

Municipalities were told to start identifying and notify the Quality of Care Commission for adequate accommodation and to ensure that high standards of infection prevention are met.

Eoin Treacy’s point of view

Fighting the pandemic is as much about public relations as it is medicine. Everyone knows that the elderly are by far the most at risk group. Filling senior nursing homes with people who may still be contagious is a recipe for another public relations disaster.

Eoin Personal Wallet – new trading position opened on 21 October

Eoin Treacy’s point of view

One of the most frequently asked questions from subscribers is how to find the details of my open traders. In an effort to make it easier, I will simply repost the latest summary every day until there is a change.

The information provided on this website (www.fullertreacymoney.com) is for informational purposes only. This website and its content are not and should not be considered or considered an offer or invitation to engage in investment activities. Nothing Fuller Treacy Money does and nothing on this website is intended to operate or be construed as giving advice or making a recommendation from Fuller Treacy Money to any investor or potential investor. Fuller Treacy Money and any other group or company associated with it are not authorized or regulated by the Financial Conduct Authority in the UK or by any other regulatory body in any other jurisdiction. By accessing our service, it is therefore deemed that you accept our current conditions of sale, including this notice, with the exception of the authorization to download a single copy for personal use, the research published by Fuller Treacy Money cannot be reproduced , distributed or published in whole or in part by any recipient for any purpose, without Fuller Treacy Money’s prior express consent. The information on the website is based on information and data provided by Fuller Treacy Money and remains the intellectual property of Fuller Treacy Money. Some of the information may also be provided by third parties and while Fuller Treacy Money will try to ensure that the information on the website is updated regularly, Fuller Treacy Money assumes no responsibility and disclaims any liability for, such information (including the accuracy of such information) or opinions or opinions expressed on the website. Anyone considering an investment opportunity as a result of the data presented on the website should pay full attention to all website content, perform their own due diligence and seek advice from suitably qualified professional advisors before investing. Potential investors are also encouraged and recommended to seek their own independent legal and tax advice along with any other advice they deem necessary to consider the benefits and risks associated with any investment opportunity. No representations or warranties, express or implied, are or will be provided or provided by Fuller Treacy Money (including its directors, employees, agents, contractors and consultants) with respect to the accuracy or completeness of the website content, except as such. liability is not excluded in case of fraudulent misrepresentation.