In the worst week for the US stock market since the financial crisis, the S&P500 fell more than 7.5%, and a full-blown price war rattled the markets over the weekend. Crude fell by over 20% and treasuries plummeted.
Okay, so the world is burning, the Russians and Saudis are pouring low-cost fuel over it, the Americans are shocked that a reality TV show host with a penchant for scams didn’t make a clever President, Italy is in total lockdown, the Japanese are thinking of holding a spectator-free Olympics, Israel is putting anyone coming home from overseas in two weeks of quarantine, the stock markets are taking their biggest dive ever, and morons are hoarding toilet paper and hand sanitizer while lining up for the free havarti samples at Costco.
The sky is falling so where is all the money going if not into bitcoin (Crosspost from The Digital Decrypter)
Bitcoin is supposed to be a safe-haven currency. When the markets go to shit like they are today, in theory people evacuate their traditional positions and throw their money into digital currencies and other adjacent crypto-related stock, like bitcoin mining or one of the many digital asset companies offering the proximity and benefits of bitcoin without any of the hassle of actually owning any.
Dixie Brands (DIXI.U.) signed an exclusive binding term sheet to merge with cannabis branding house, BR Brands, today. The deal will constitute a reverse takeover with BR Brands absorbing Dixie’s business in Q3 of this year to create one of the cannabis industry’s most comprehensive branding operations.