10 Things Before the Opening Bell: April 11
Welcome back. This weekend saw the finale of Bitcoin 2022, one of the largest crypto events in history. From splashy predictions to downright tomfoolery, we have a rundown of everything you might’ve missed.
Plus, Shark Tank investor Kevin O’Leary told Insider what’s in his crypto portfolio.
1. Bitcoin 2022 had plenty of wild moments. For starters, billionaire Peter Thiel called Warren Buffett a “sociopathic grandpa from Omaha” as he presented a slideshow that included criticisms of top figures who he said are trying to prevent the adoption of crypto.
Then, star stock-picker Cathie Wood sat down with bitcoin bull Michael Saylor, with both voicing their support for the token. Wood reiterated a $1 million price prediction for the world’s most popular crypto.
And to cap it all off, there was a 3,000-pound, robotic “Miami Bull” statue with laser eyes that stood guard as the mascot of the conference.
Here’s what else happened:
In other news:
2. Global shares are in the red this morning. Concern about surging inflation and bond yields, coupled with the threat of COVID to the Chinese economy has put stocks under pressure. Here’s what’s happening today.
3. Earnings on deck: Allied Esports Entertainment, Bloom Energy, and Lifeway Foods, all reporting.
4. A long-time bull shared why he just downgraded small, economically sensitive stocks but is still betting against a recession. Higher inflation and slower growth have made a
5. Shark Tank investor Kevin O’Leary sat down with Insider to talk about how he invests in digital assets. He revealed how he arranges his crypto portfolio, what he looks for when investing in a company, and whether he owns any metaverse property. Plus, he explained how economic value determines where he places his bets.
6. Europe is banning imports of Russian coal, but has stopped short of banning oil and gas. An outright ban on Russian fossil fuel imports would be difficult because of the sheer volume of foreign energy Europe relies on. These three charts explain the situation.
7. Russia is poised for a bond default that could unleash years of courtroom chaos. Bondholders could be facing a brutal battle with the government as part of the fallout. A debt expert broke down what could happen next.
8. The co-founder of a $10 billion crypto finance firm breaks down why she remains bullish on the “long-term price appreciation” of major tokens. Recent price
9. Two agriculture investors shared which stocks could rise along with global food prices as the Russia-Ukraine conflict threatens wheat and crop supplies. The two warring nations produce 30% of the world’s wheat exports, and investors say the mounting conflict could spur a food crisis. See the list of 8 stocks these investors are watching.
10. Kroger stock is a buy because food prices will keep rising. Bank of America upgraded the grocery chain company to “buy” based on how the bank expects inflation to impact the broader food sector. Analysts expect food price inflation to surge through 2023 and to be passed on to consumers.
Event invite: Join us on April 12 at 12 p.m. ET for ‘Accelerate the Net-Zero Transition,’ in partnership with Bank of America. Sustainable finance experts will discuss how the net-zero transition is being financed. Register here.