There’s so much going on: the World Economic Forum is now on its third day, Donald Trump is signing 100 executive orders a day, and McDonald’s McRib is selling well.
“May you live in interesting times. » People forget that this is not a Chinese proverb, but a Chinese curse!
That works. This year’s Davos is all about Bitcoin and AI. Here are some of the highlights so far:
Jamie Dimon on Elon Musk: He’s ‘our Einstein’
JUSTIN: JPMorgan CEO Jamie Dimon says Elon Musk is our “Einstein.”
“SpaceX, Tesla, Neuralink. I mean, this guy is our Einstein.” pic.twitter.com/GRkzZtBk4c
– Watcher.Guru (@WatcherGuru) January 22, 2025
Jamie Dimon wants the world to know: he and Elon Musk have buried the hatchet. “Elon and I hugged,” Dimon casually told CNBC in Davos, the Swiss playground of the world’s elite. After a conversation at a JPMorgan event, the two men resolved their issue.
Dimon wasn’t shy about his praise, calling Musk’s companies — Tesla, SpaceX, Neuralink — monuments to innovation. “This guy is our Einstein,” Dimon said as he rolled out the red carpet for future collaborations. “I want to help him and his businesses as much as possible.”
The public tie-up comes after JPMorgan dropped its $162 million lawsuit against Tesla over a contract dispute involving stock warrants. It seems Wall Street has moved on – or at least Dimon has.
World Economic Forum: doubts about Bitcoin as a reserve asset
Lesetja Kganyago, head of South Africa’s central bank, has calmly dismantled the notion of Bitcoin as a strategic reserve. On Trump’s pledge of a U.S. bitcoin reserve, he compared the idea to hoarding obscure commodity reserves, calling it impractical.
“Gold has a history. There used to be a gold standard,” Kganyago remarked. “If we now say Bitcoin, what’s next? Platinum? Apples? Strategic reserves of beef?
South Africa’s central bank governor scoffs at the idea of a strategic Bitcoin reserve, asking: “Why not a strategic beef reserve?” Why not a stash of apples? Why Bitcoin?!”
Brian Armstrong responds: pic.twitter.com/36LXDUxP5g
-Sam Callahan (@samcallah) January 21, 2025
His pointed comparison underscored his belief that Bitcoin lacks the historical and intrinsic value of gold, raising questions about adoption by governments as a reserve asset. Kganyago also expressed concerns about the influence of crypto industry lobbying on the development of financial regulations.
“If regulation is to be made by the power of money, then we have a problem,” Kganyago noted, pointing to the massive sums the crypto industry has invested in political campaigns.
Coinbase CEO Brian Armstrong painted a very different picture, praising Trump’s stance on crypto and the potential it brings to the industry. Armstrong highlighted the rise in the value of Bitcoin following Trump’s re-election and highlighted the possibilities that a Bitcoin reserve could open up for the US economy.
“The Trump effect cannot be denied here,” Armstrong said. “For the leader of the country with the largest GDP in the world to openly support crypto is unprecedented.”
No !! The WEF is bad, no!!!
Although some parts of Davos may be myopic in vision, the WEF millionaires and billionaires also want higher taxes for themselves and fewer loopholes.
Base? Hey, we’re not complaining. The problem, however, is that there is nothing stopping them from paying more than necessary. If they wanted to, they would have done it already.
So, as always, the WEF is a mixed bag.
We’ll let you know if they create this stash of apples and beef tallow.
EXPLORE: The history books will remember Crypto 2025: but what is the best new crypto to buy?
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The post Put aside Bitcoin, time to reserve a strategic reserve of beef? Highlights from Day 2 of the World Economic Forum appeared first on 99Bitcoins.
