Don Curren 🇨🇦🇺🇦
1 BMO: #Equitymarkets point to a higher open this morning alongside a move back into #riskassets, including #crypto. The massive unwinding of the #AI trade and #crypto positions in recent weeks had pulled #Bitcoin down by more than 50% from its recent high at one point …🧵 #markets
Feb 6 at 12:54pmWeb
Show threadDon Curren 🇨🇦🇺🇦Feb 6
2 BMO: … and the #Nasdaq by almost 6% (with much deeper selloffs in names tied into the #AI trade, or those impacted by it, like #software) #markets
Show threadI Heart NoiseFeb 6
Crypto and then AI crash?
Show threadI Heart NoiseFeb 6
Foundations of Trump's economy
Show threadDon Curren 🇨🇦🇺🇦Feb 6
1 Quite possibly. There’s definitely some interpenetration of those two worlds, so some likelihood of knock-on effects. Assuming that crypto is on the brink of a crash, it’s hard to say how quickly, and to what extent, that will spillover onto AI. AI assets at least some putative economic value … 🧵
Show threadDon Curren 🇨🇦🇺🇦Feb 6
2 … so could continue to draw investor support for a while longer than crypto, which has no compelling rationale - in fact no rationale at all - as an asset class.