TheBRRR’s Thoughts

GM. The world expect’s the SEC to approve the bitcoin ETFs afterhours today. This is a long-term win the asset class as it will unlock passive flows.

We covered yesterday’s hack of the SEC’s Twitter account and Nvidia’s latest AI chip in our featured coverage today.

In other news,

1. the dollar is rolling over and falling (good for risk assets)
2. oil is falling (helpful for low inflation data)
3. the media is already pressuring the Treasury and the Fed to do something to support liquidity ahead of the BTFP’s March expiration (money printer go brrr)

We remain fully risk-on until something changes.

GL out there.

Tech News

Nvidia Steals CES With New Consumer AI Chip

Synopsis: At this week’s Consumer Electronics Show (CES), Nvidia unveiled their new AI-powered GeForce RTX 40 SUPER Series GPUs, marking a pivotal unlock for consumer AI-focused technology. The GPUs will allow PCs to run large language models locally.

Accompanying these GPUs are new AI laptops from leading manufacturers Acer, Samsung and more, equipped out-of-the-box with powerful AI capabilities, due to Nvidia’s latest chips.

This announcement catalyzed a significant surge in Nvidia's stock, propelling it to an all-time high of over $540 per share and a 10% YTD gain.

This strategic move not only reinforced Nvidia’s market dominance but also re-energizes the stagnant PC market.

BRRR’s Take: Nvidia remains our top pick for AI exposure. Their category leadership remains iron-clad with exploding revenue at near 50% profit margins.

Yahoo 

Crypto News

SEC’s X Account Hacked, Fake BTC ETF Approval Message Posted

Synopsis:

Yesterday, the U.S. Securities and Exchange Commission (SEC) experienced a significant security breach when its X (formerly Twitter) account was hacked.

The unauthorized post falsely claimed that the SEC had approved Bitcoin ETFs for listing on all registered national securities exchanges. This misleading information caused a brief but notable spike in Bitcoin's price, rising from about $46,730 to just below $48,000, before falling to around $45,200.

SEC Chair Gary Gensler responded roughly 15 minutes later, claiming from his personal account that the SEC's official account had been compromised, and stating that the agency has not approved the listings.

According to X, the SEC did not have two-factor authentication enabled on its account at the time of the compromise.

BRRR’s Take: It is widely expected that the SEC will approve the ETFs after market close today, so this will only be a revealing footnote in the grand scheme of things.

There’s speculation that the hacker noticed a prepared tweet in the SEC’s drafts and posted it prematurely to trigger a market reaction.

Interestingly the hacker did not maximize personal profit from the post. Had the hacker shorted bitcoin and tweeted out that the ETFs were rejected, he stood to make much more.

Overall the gaff makes the SEC appear wildly incompetent - a win in of itself.

Coindesk

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The BRRR is meant for informational purposes only. It is not investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions.