A week with many events...
Why is Bitcoin falling? What is the ECB doing? Lots of numbers and Paypal completely shocked me! ⤵️
The week was very eventful. Bitcoin fell sharply last week, Paypal wanted to shock the world with news on 25 January, the ECB decided on interest rates again and there were a number of quarterly figures this week. Let's take a closer look.
Why has Bitcoin fallen so much?
3 words explain it: Grayscale, FTX , Miner!
Miners are said to have sold around 10,000 $BTC
BTC were sold. We are currently on the verge of a halving again. This means that the miners will soon only have half the income left. So they have used the increase to build up capital. They are investing in new hardware in order to be able to mine more. Electricity costs rise as a result and so on. They have to take profits from time to time to stay liquid.
Grayscale has converted the trust fund (GBTC) into an ETF and sold over 600,000 BTC. Grayscale's fee policy is not the best and led to further selling. Grayscale sold USD 640 million worth of bitcoins every day. This was felt by the market.
FTX sold 900 million US dollars to GBTC, generating a profit of around 300 million US dollars. However, another positive aspect is that all the new ETFs have already collected around 103,000 BTC and will continue to do so. The market will therefore continue to grow and profits will be taken from time to time!
Is the ECB now lowering interest rates?
No, they are not yet, but they are not currently rising any further. So now the ECB has also found the stop button. However, there are already rumors of interest rate cuts this year. But they don't want to commit to a calendar day, they want to reassess each time. It will be interesting to see what the market prices in for the next round. The FED will be back next week. However, it is not expected to cut interest rates for the time being, but also not to raise them!
Did Paypal shock you with the news?
On 17.01 the CEO of $PYPL Paypal said that they wanted to shock the world on 25.01. That was yesterday and here's what came out of it. Apart from the fact that the exchange rate has fallen by more than 5% in an instant, they said that they are building in a new AI function that will allow you to get a kind of cashback with the Paypal app. So they are trying to jump on the AI bandwagon. But somehow, cashback via app is no longer a big innovation and the world perhaps expected something different. Of course, there was also very little information about what this will look like.
Some important quarterly figures from this week:
$V
Visa first quarter earnings per share of $2.41 beat analyst estimates of $2.34. Revenue of $8.6 billion beat expectations of $8.55 billion.
$TSLA
Tesla fourth quarter EPS of $0.71 misses analyst estimates of $0.73. Revenue of $25.17 billion below expectations of $25.61 billion. Tesla expects volume growth rate in 2024 to be significantly lower than last year.
$INTC
Intel fourth-quarter earnings per share of $0.54, beating analysts' estimates of $0.45. Revenue of $15.4bn, above expectations of $15.16bn.
of $15.16 bn. Intel sees first quarter revenue of only $12.2-13.2 bn (consensus $14.25 bn) and EPS of $0.13 (consensus $0.34).
$LMT
Lockheed Martin Corp. fourth quarter EPS of $7.90 beats analyst estimates of $7.28. Revenue of $18.87 billion beats expectations of $17.95 billion.
$PG
The Procter & Gamble Co. second-quarter earnings per share of $1.84 beat analysts' estimates of $1.70. Sales of $21.4 billion below expectations of $21.47 billion. Outlook for financial year 2024 confirmed.
$MMM
3M Co. fourth-quarter earnings per share of $2.42 beat analysts' estimates of $2.31. Sales of $7.69 billion in line with expectations.
General Electric Co. fourth-quarter earnings per share of $1.03 beat analysts' estimates of
analysts' estimates of $0.89. Sales of $19.4 billion
billion above expectations of $17.16 billion.
$JNJ
Johnson & Johnson fourth quarter earnings per share of $2.29, beating analyst estimates of $2.28.
analysts' estimates of $2.28. Sales of $21.4 billion
billion above expectations of $21 billion.
$NFLX
Netflix fourth-quarter EPS of $2.11 misses analysts' estimates of $2.21. Revenue of $8.83bn beats expectations of $8.72bn. Global subscription growth in Q4 +13.12m. Netflix sees first-quarter EPS of $4.49 (consensus 4.1) and revenue of $9.24bn (consensus 9.27bn).
$TXN
Texas Instruments beat analysts' estimates of $1.49 earnings per share in the fourth quarter.
analysts' estimates of $1.47. Sales of $4.08 billion
billion below expectations of $4.12 billion.
Intuitive Surgical fourth quarter earnings per share of $1.60, beating analyst estimates of $1.48.
analysts' estimates of $1.48. Sales of $1.93 billion
billion above expectations of $1.89 billion.
$ABT
Abbott Laboratories fourth-quarter earnings per share of $1.19 meet analysts' estimates.
Sales of $10.24 billion above expectations of
$10.17 billion
$T
AT & T Inc. fourth quarter earnings per share of $0.54 misses analysts' estimates of $0.56. Sales of $32 bn above expectations of $31.46 bn.
expectations of $31.46 billion.
$TMUS
T-Mobile US misses analysts' estimates of $1.91 in the fourth quarter with earnings per share of $1.67. Revenue of $20.48 billion beats expectations of $19.67 billion.
expectations of $19.67 billion.
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