Aurora Cannabis Inc. led gains among Canadian cannabis stocks on Wednesday after an industry executive was named president of the Cannabis Council of Canada trade group.
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On Friday, Ethena Labs, the creators of the stablecoin USDE, secured $14 million in funding from key investors. Following this recent influx of funds and a previous $6.5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to $300 million. USDE Issuer Ethena Labs Raises $14M Ethena Labs, […]
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Quick Take
Bitcoin (BTC), once viewed as a fringe digital asset, has ascended to claim the rank of the 16th largest currency worldwide when compared to various fiat currencies on a market capitalization basis. Measured by multiplying the total circulating supply of 19.5 million BTC by its unit price, Bitcoin’s market capitalization underscores its evolving role in the global financial sphere.
FiatMarketCap’s innovative methodology of expressing fiat currency market caps in Bitcoin terms offers an insightful viewpoint. It reveals the growing significance of digital asset like Bitcoin within a traditionally fiat-dominated space. China’s Yuan, the US Dollar, and the Euro occupy the top three ranks, with market caps calculated in Bitcoin exceeding Bitcoin’s finite supply limit of 21 million BTC.
The acknowledgment of Bitcoin as the 16th largest currency highlights the digital asset’s swift ascent and its burgeoning recognition as a potential store of value. It’s a testament to Bitcoin’s resilient market presence, challenging the conventionality of established national currencies.
| # | Currency | Market Cap | Price | Circulating Supply |
|---|---|---|---|---|
| 1 | CNY | 964,464,514 BTC | 331 sats | 291,200,000,000,000 CNY |
| 2 | USD | 885,730,966 BTC | 2,354 sats | 37,618,765,569,000 USD |
| 3 | EUR | 385,664,938 BTC | 2,614 sats | 14,751,875,000,000 EUR |
| 4 | JPY | 267,109,023 BTC | 16 sats | 1,597,004,000,000,000 JPY |
| 5 | GBP | 104,478,044 BTC | 3,007 sats | 3,473,701,000,000 GBP |
| 6 | KRW | 95,227,269 BTC | 1 sats | 5,207,204,000,000,000 KRW |
| 7 | INR | 68,028,626 BTC | 28 sats | 240,337,000,000,000 INR |
| 8 | CAD | 63,344,794 BTC | 1,784 sats | 3,549,553,000,000 CAD |
| 9 | BRL | 51,340,427 BTC | 486 sats | 10,552,680,000,000 BRL |
| 10 | HKD | 50,722,042 BTC | 301 sats | 16,833,762,000,000 HKD |
| 11 | AUD | 47,420,988 BTC | 1,611 sats | 2,942,000,000,000 AUD |
| 12 | TWD | 46,213,992 BTC | 76 sats | 60,296,879,000,000 TWD |
| 13 | CHF | 31,922,437 BTC | 2,818 sats | 1,132,535,000,000 CHF |
| 14 | RUB | 24,087,950 BTC | 26 sats | 91,135,000,000,000 RUB |
| 15 | MXN | 21,811,869 BTC | 139 sats | 15,666,762,864,000 MXN |
| 16 | BTC | 19,582,968 BTC | 100,000,000 sats | 19,582,968 BTC |
Source: fiatmarketcap.com
The post Bitcoin climbs the currency ranks, now 16th largest by market cap globally appeared first on CryptoSlate.
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Since March 2020, Treasury bonds with maturities of 10 years or more have plummeted 46%, Bloomberg says.
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That’s just under losses seen in the stock market when the dot-com bubble burst.
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The bond rout is worse than the one seen in 1981 when the 10-year yield neared 16%.
The bond-market sell-off that’s sending yields soaring is starting to eclipse some of the most extreme market meltdowns of past eras.
Bloomberg reported losses on Treasury bond with maturities of 10 years or more had notched 46% since March 2020, while the 30-year bond had plunged 53%.
Those losses are nearly in line with stock-market losses seen during the worst crashes of recent history — when equities slumped 49% after the dot-com bubble burst and 57% in the aftermath of 2008.
Compared with previous bond-market meltdowns, long-term Treasurys are seeing one of the most extreme undoings in history. The losses are over twice as big as those seen in 1981 when 10-year yields neared 16%.
That crash came as the former Federal Reserve chair Paul Volcker grappled with historic inflation and pushed the federal funds rate to just under 20%.
While interest rates remain well below that level today, the central bank’s aggressive turn toward monetary tightening in the post-pandemic era has caused a similar bond-market rout. And traders have continued selling amid concerns of rebounding inflation, while a deluge of Treasury issuance this year has also pressured bond prices.
Long-duration yields have climbed to their highest since 2007 as a result, with the 30-year note passing the 5% barrier for the first time in decades. Investors expect a similar path for the 10-year, which is hovering at just more than 4.7%. Well-known investors, including Bill Ackman, Ray Dalio, and Bill Gross see the 10-year hitting 5% in the near term.
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Finding the right financial advisor to help with your financial needs and goals can be a very complicated process.
There are so many things to consider.
For example, every financial advisor has their own area of expertise. The services provided by financial advisors will vary based on the type of advisor but, overall, a financial advisor will assess your current financial situation — including your assets, debts and expenses — and identify areas for improvement.
Advisors use their knowledge and expertise to construct personalized financial plans that aim to achieve the financial goals of clients. A good financial advisor will ask you about your life goals and create a plan to help you reach them. That may mean discussing your budget, retirement planning, estate planning, insurance needs, long-term care or tax strategies.
A financial advisor can play a major role in helping clients grow and protect their wealth. The key is to find an advisor you trust, and it’s important to make sure they are someone who is a good match for you.
To be sure, financial advisors aren’t just for rich people — working with an advisor is a great choice for anyone who wants to get their personal finances on track and set long-term objectives. The CNBC ranking is meant to be a starting point for individual investors who are looking for a financial advisor. We hope this list will help to narrow your search.
For the fifth year in a row, CNBC unveils its ranking of top financial advisors. The CNBC FA 100 recognizes those advisory firms that best help clients navigate their financial lives.
Review the methodology which CNBC employed to determine the FA 100 ranking for 2023 in collaboration with AccuPoint Solutions. (Editor’s note: CNBC receives no compensation from placing financial advisory firms on our list. Additionally, an advisor’s appearance on our ranking does not constitute an individual endorsement by CNBC of any firm.)