Markets

Why investors should invest in asset bubbles rather than avoid them, according to JPMorgan

14 days ago   |   By Business Insider

JOHANNES EISELE/AFP via Getty Images
An analysis of asset bubbles over the past 40 years suggests investors should buy into them rather than avoid them, JPMorgan said in a note on Friday. The bank found that 80% of expensive markets that crash spectacularly eventually make new all-time highs. "When I see a bubble forming, I rush in to buy it," George Soros famously said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Whether it's bitcoin or the stock market, countless market observers have warned investors in recent months that a bubble is forming. But rather...
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NYSE owner ICE sold its Coinbase stake for $1.2 billion, securing a $900 million profit

14 days ago   |   By Business Insider

Coinbase employees gather outside the Nasdaq MarketSite during the company's IPO, in New York's Times Square, Wednesday, April 14, 2021.
AP Photo/Richard Drew
Intercontinental Exchange has sold 1.4% of its Coinbase investment worth $1.2 billion.
ICE is the owner of the New York Stock Exchange.
Proceeds of the divestment helped ICE pay down its debt.
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Intercontinental Exchange, the owner of the New York Stock Exchange, sold 1.4% of its Coinbase investment worth $1.2 billion, the company said. The divestment resulted...
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The NFT art market has grown more than 800% in 2021 so far to $490 million - but the boom could now be heading towards bust

14 days ago   |   By Business Insider

Beeple's artwork was sold as an NFT for $69 million in March.
Reuters
The market for non-fungible token art grew more than 800% in the first 4 months of 2021.
It is now worth around $490 million, but is only a sliver of the total NFT market, a report said.
Yet the NFT market as a whole is slowing sharply, with some warning that a bubble is bursting.
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The market for non-fungible token art has boomed in 2021, swelling by more than 800% from $52 million at the start of the year to $490 million at the end of the April...
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Coinbase investor Fred Wilson said bitcoin could be a 'fantasy' when he first invested in 2013. His firm's stake is now worth a whopping $4.6 billion, or 1,840 times its initial investment

14 days ago   |   By Business Insider

Union Square Ventures co-founder Fred Wilson.
Noam Galai/Getty Images for TechCrunch
Fred Wilson once described bitcoin as science fiction - then invested $2.5 million in Coinbase.
Eight years after, Wilson became the company's most profitable exit, selling the equivalent of $1.8 billion, Bloomberg reported.
Wilson, a legendary venture capitalist, was one of the early investors in Twitter, Tumblr, Zynga, and Etsy.
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Union Square Ventures co-founder Fred Wilson once described bitcoin as science fiction - then invested...
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