The World Economic Forum is in its third day, Donald Trump is signing 100 executive orders each day, and McDonald's McRib is selling like hotcakes.
“May you live in interesting times.” People forget that it is not a Chinese proverb, but a Chinese curse.
It's working. This year's Davos is all about Bitcoin and AI. Below are some of the highlights so far.
Jamie Dimon talks about Elon Musk: He's 'our Einstein'
JPMorgan CEO Jamie Dimon says Elon Musk is our Einstein.
“SpaceX, Tesla, Neuralink. So this guy is our Einstein.” pic.twitter.com/GRkzZtBk4c
— Watcher.Guru (@WatcherGuru) January 22, 2025
Jamie Dimon wants the world to know that he and Elon Musk buried the machete. “Elon and I hugged as best we could,” Dimon said during a casual stop on CNBC in Davos, Switzerland's playground for the world's elite. The two exchanged thoughts after chatting at a JPMorgan event.
Mr. Dimon was full of praise for Mr. Musk's businesses (Tesla, SpaceX, Neuralink), calling them monuments of innovation. “This man is our Einstein,” Dimon declared, rolling out the red carpet for future collaborations. “I want to help him and his company in any way I can.”
The public settlement comes after JPMorgan abandoned a $162 million lawsuit against Tesla over a contractual dispute over stock options. Wall Street appears to be moving on, or at least Dimon seems to be moving on.
World Economic Forum: Questions about Bitcoin as a reserve asset
South African Central Bank Governor Lesetja Kganyago calmly dismantled the concept of Bitcoin as a strategic reserve. Referring to President Trump's pledge regarding U.S. Bitcoin reserves, he dismissed the idea as unrealistic, likening it to hoarding reserves for an obscure commodity.
“Gold has a history. There was once a gold standard,” Kganyago said. “If we say Bitcoin now, what's next? Platinum? Apples? Strategic Beef Reserve?”
South Africa's Central Bank Governor scoffed at the idea of a strategic Bitcoin reserve, asking, “Why not have a strategic beef reserve?” Why not Apple Reserve? Why Bitcoin? ! ”
Brian Armstrong answers: pic.twitter.com/36LXDuxP5g
— Sam Callahan (@samcallah) January 21, 2025
His sharp comparison underscored his belief that Bitcoin lacks the historical and intrinsic value of gold, and cast doubt on governments adopting Bitcoin as a reserve asset. Kganyago also expressed concern about the influence of the crypto industry lobbying efforts in shaping financial regulation.
“If regulation is established through the power of money, then there is a problem,” Kganyago said, pointing to the large sums of money the crypto industry funnels into political campaigns.
Coinbase CEO Brian Armstrong painted a completely different picture, praising President Trump's stance on cryptocurrencies and the potential they bring to the industry. Armstrong noted the surge in Bitcoin's value after President Trump's re-election, noting that Bitcoin reserves could be unleashed on the U.S. economy.
“You can't deny the Trump effect here,” Armstrong said. “It is unprecedented for the leader of the world’s largest GDP country to openly support cryptocurrencies.”
Oh no! ! WEF is no good, no!!!
Some in Davos may be short-sighted when it comes to vision, but WEF millionaires and billionaires also want their taxes raised and loopholes reduced.
base? Hey, we're not complaining. But the thing is, there's literally nothing stopping them from paying more than they have to. If they wanted it, they would already be doing it.
As always, WEF mixed bag.
However, we will continue to update you if apple and tallow reserves are created.
Explore: The history books will remember cryptocurrencies in 2025: But what are the best new cryptocurrencies to buy?
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The post Time to put Bitcoin aside and prepare for some strategic beef?The post World Economic Forum Day 2 Highlights appeared first on 99Bitcoins.
