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What the Stock Market's 'Robinhood Rally' Means for Bitcoin
The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. What is going on?
Updated Apr 10, 2024, 2:54 a.m. Published Jun 9, 2020, 7:35 p.m.
The largest 50-day "Robinhood" rally in stock market history and even stocks of bankrupt companies are up more than 100%. What is going on?
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This episode is sponsored by Bitstamp and Ciphertrace.
Today on the Brief:
- Saudi Arabia injects $13 billion in bank liquidity via blockchain.
- China’s state TV CCTV says Binance is still allowing crypto trading in China.
- MakerDAO community greenlights real world collateral.
Our main topic: The “Robinhood Revolution.”
The next time someone tells you crypto markets are too irrational or volatile, point them to stock markets right now.
- The largest 50-day rally in history
- Every S&P 500 stock up from 10 weeks ago
- Multiple bankrupt companies up more than 100% since they declared bankruptcy
See also: The Shadow of Satoshi's Ghost: Why Bitcoin Mythology Matters
This is the “Robinhood Revolution,” as a horde of day traders are outperforming billionaire investors and commanding the stock market narrative.
This episode looks at:
- Who is this new generation of investors
- Why they’re so active right now
- What they’re betting will go up
- Why they don’t care about earnings, balance sheets or any other fundamentals
- Four scenarios for how this rally could have an impact on the bitcoin and crypto industry
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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