In today’s Trade To Black Podcast on the Benzinga network, Shadd Dales, Anthony Varrell and Benjamin A. Smith have an exciting, information packed show for you guys.
Bitcoin (BTC) is making waves once again. Its value has skyrocketed from 17k to 43k this year. Speculation on ETFs, anticipated rate cuts in 2024, OGs holding onto their coins, and new investors entering the market are driving this surge. Recent developments involving Binance, such as a $4B fine and CZ facing charges, have addressed concerns around the platform.
Six U.S. state governors (Colorado, Illinois, New York, New Jersey, Maryland, and Louisiana) wrote to President Biden, urging him to reschedule a certain green leaf to Schedule III by year-end. This would bring economic benefits, tax relief, and align government policy with public opinion. Rescheduling to Schedule III would save the industries companies an estimated $1.8B yearly, shifting their tax rate to 21%.
Canna analyst Pablo Zuanic initiated coverage on two financial firms (Chicago Atlantic Real Estate Finance Inc. and NewLake Capital Partners) with overweight ratings. Zuanic predicts bright prospects for the industry, with estimated sales reaching $40B by 2027. Federal reform may include rescheduling to Schedule III in 2024, providing tax relief and improving capital access. Zuanic also believes that Federal Reserve rate cuts would benefit these companies.
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The information provided in this video is for educational purposes only and should not be considered as financial or investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions.
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