Even if you’ve been trading cryptocurrencies and studying blockchain technology for years, you may not have heard of DavidMarcus until just recently.
However, when the history of this still brand-new industry is written, he’s going to go down as one of the more important behind-the-scenes power brokers.
Last month, you see, Marcus was promoted at Facebook Inc. (Nasdaq: FB) to head the social networking giant’s “experimental” blockchain unit. (I’ll tell you more about Marcus’ background in a moment.)
There’s more going on here than just a nice promotion in a hot new field. Facebook’s move comes several months after Marcus joined the board of directors at Coinbase, an online exchange I’ve used more many years.
And I’m sure many of you use Coinbase as well. (If you’re not crypto trading yet, I’ll start to show you how right here.)
After, the number of Coinbase users jumped exponentially throughout 2017 – from 400,000 in January to 4.3 million in December. Just check out this chart.
Marcus joined the board in that busy December – when Bitcoin and other e-currencies were reaching their all-time highs. Not so coincidently, shortly after that, Coinbase started an acquisition spree, pulling off four so far, and began reaching out to big-money institutional investors.
To me, while from the outside Coinbase may look like a new form of company, it’s really a classic Silicon Valley startup.
It’s even based in San Francisco – for why that’s important, take a look at this recent report.
And this post-Marcus series of moves tells me Coinbase is looking to go public.
Today, I’m going to show why these moves are so important for the future of crypto trading.
It’s been over a year of legislative back and forth, but the Senate of Canada finally passed Bill C-45, known as The Cannabis Act.
The vote, taken after 9 p.m. Eastern on Thursday, was 56 in favor, 30 opposed, and 1 abstention. Here in Silicon Valley, my dinner had to wait till this was over.
But those few hunger pangs were worth it.
This vote brings Canada within a hair’s breadth of legalizing recreational cannabis for adult use throughout the country. The path to legalization is nearly complete.
Now, the House of Commons has to approve a raft of amendments – nearly 50 – that various Canadian senators added yesterday. But once that’s done, the bill will be ready for Prime Minister Justin Trudeau’s final signature.
And once that happens, Canada will be the first G-7 nation (i.e., wealthy) to fully legalize cannabis, and to have set up a regulated system for its propagation and sale.
An update to Siri… Google Maps and Waze coming to CarPlay… a new photo system in iOS 12… and the debut of “Memoji,” a feature that allows you to create your own emoji that mimics your particular facial expressions.
Those were just a few of the upgrades and new features announced yesterday at the 11th annual Apple Inc. (Nasdaq: AAPL) Worldwide Developer Conference (WWDC).
CEO Tim Cook also noted the App Store, which is now 10 years old, is the largest app market in the world, with 500 million weekly visitors. It’s brought in $100 billion for app developers.
Here’s why I say that. I first began telling Strategic Tech Investor members – maybe you were one of them – about what a great company a certain stock was back in May 2013.
At the time, it seemed like no one on Wall Street likes this firm.
The reason: While it was a pioneer in desktop publishing, many analysts still thought of the firm as a rooted in that seemingly archaic sector.
But I pounded the table and said the Silicon Valley leader’s then-young move into cloud computing would richly reward investors.
That’s why I was so glad to see that on May 21, nearly five years later, this company said it intends to buy back up to $8 billion of its own stock through 2021. And that’s on top of the current $2.5 billion plan that ends later this year.
That’s the $10.5 billion bet I won.
I’ve flown all over the world in all kinds of jetliners, and usually when the plane gets going, I tune out the safety presentation.
Been there, done that.
But on a recent Southwest Airlines (NYSE: LUV) flight from Money Map Press headquarters in Baltimore to Oakland International Airport, I listened carefully as the flight attendant described the plane’s safety features.
It’s little more than a “glorified Excel spreadsheet.”
At least that’s how New York University Stern School of Business economist Nouriel Roubini described blockchain technology earlier this month during a panel discussion at the Milken Institute Global Conference in Beverly Hills, Calif.
But Roubini, nicknamed “Dr. Doom” for predicting the 2008 financial crisis, wasn’t done there. In fact, he’s been claiming for months now that the technology, which undergirds Bitcoin and cryptocurrencies as an online transaction ledger, is overhyped.