Welcome back to another Trader Top 9! This week, we have questions around a stock market that is on its surface thriving, fundamental questions of the place of bitcoin in the world, and of course, some good ol’ fashioned price chat as bitcoin surged 10%+ yesterday.
9. Some are having a hard time reconciling continued economic chaos among working people and a stock market that seems to always go up. Barstool Sports founder Dave Portnoy has become a voice for this sentiment.
8. Speaking of stocks going up, the big technology companies have taken on an even more important role as essential in the context of the crisis
7. One new force in the market is the Robinhood traders and the r/WallStreetBets community. This week they made the ETF USO the most popular stock
6. On the topics of ETFs, after the recent chaos in the oil markets, some crypto investors are asking whether bitcoin should even want an ETF
5. Whatever one’s position on a bitcoin ETF, it’s impossible to deny that bitcoin is an outsider force. Interestingly, some are comparing it to a very ideologically opposite outsider force - MMT
4. No less a figure than Putin grabbed attention when he demonstrated his understanding that cryptos by definition operate as at least somewhat separate from the existing system
3. Meanwhile, Square’s Jack Dorsey explains how bitcoin would allow their company to offer a similar global product everywhere
2. For bitcoiners focused on the upcoming halving, much attention was on Plan B’s third stock-to-flow paper, released this week and looking at a cross-asset model. S2F is both controversial and extremely popular.
1. But even that couldn’t displace the real focus of the crypto industry’s excitement - a massive price jump yesterday that took bitcoin over $9000 for a time.