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Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), some sixteen years after its inception as a lesser-known decentralized digital money, is now <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">worth over $100,000</a>. Yes, you heard it right!
What happened: The world's largest digital asset breached the historic frontier, Wednesday night, after tantalizing the cryptocurrency community for the past ten days at values slightly below it.
The marquee achievement was celebrated with immense enthusiasm.
El Salvador President Nayib Bukele, known globally for steering his country toward an all-in Bitcoin strategy,<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41847581/el-salvadors-bitcoin-bet-is-paying-off-heres-how-much-the-country-is-up"> laughed at those</a> who questioned his approach.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602; <a href="https://t.co/yn1b0ZY7ql">https://t.co/yn1b0ZY7ql</a>
&mdash; Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1864504593272721681?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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MicroStrategy CEO Michael Saylor, who <a href="https://www.benzinga.com/24/11/42253242/microstrategys-michael-saylor-calls-bitcoin-the-manhattan-in-cyberspace-says-its-an-asset-you-could-expect-to-last-1000-years">evangelized Bitcoin's corporate adoption</a>, said he would throw a $100,000 party.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is going to be a 100K Party. &#x1f680;<a href="https://t.co/Vo52KQZRe5">https://t.co/Vo52KQZRe5</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1864500456552005731?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Coinbase CEO Brian Armstrong wished everyone a "Happy Bitcoin $100,000 Day." deeming the asset as the best-performing asset of the last 12 years.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000. If you kept the $100 USD you&#39;d only be able to purchase about $73 worth of goods today. Bitcoin is the best performing asset of the last 12 years, and it&#39;s still early… <a href="https://t.co/dvBgX5K7or">pic.twitter.com/dvBgX5K7or</a>
&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1864510348856053858?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Silicon Valley investor and prominent cryptocurrency advocate Balaji Srinivasan said, "The first $100,000 is the hardest."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The first $100,000 is the hardest. <a href="https://t.co/igjg5eO9Mb">pic.twitter.com/igjg5eO9Mb</a>
&mdash; Balaji (@balajis) <a href="https://twitter.com/balajis/status/1864508043305902448?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a>
Prominent pro-Bitcoin voices from the political fraternity also cheered the event.&nbsp;
Senator Cynthia Lummis (R-Wyo.), who has <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121376/strategic-bitcoin-reserve-wouldnt-require-new-taxpayer-dollars-says-sen-cynthia-lummis">proposed a bill</a> for a strategic Bitcoin reserve, wrote on X, "Don't stop ₿elieving.VBitcoin reaches $100,000."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't stop ₿elieving. Bitcoin reaches $100k!
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1864509155957956851?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Vijay Boyapati, author of &#8220;The Bullish Case for Bitcoin,&#8221; predicted that Bitcoin's next move would be "swift and violent."
"There is very little supply now. Everyone who had $100,000 as their &#8220;magic number&#8221; is gone."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jeremy Powell calling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> digital gold is the biggest endorsement of bitcoin yet, if you understand where financial power lies. Bigger than Fink or even Trump.
&mdash; Vijay Boyapati (@real_vijay) <a href="https://twitter.com/real_vijay/status/1864417786858229953?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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Amid the enthusiasm, staunch Bitcoin critic Peter Schiff attributed Bitcoin's rise to government intervention and political payoffs.&nbsp;
"What couldn&#8217;t be done in a free market was achieved through the cohesive power of the state," Schiff argued.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s ironic that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> only hit $100k by buying off politicians and getting in bed with government. Without expected government intervention, this milestone never would have been hit. What couldn&#39;t be done in a free market was achieved through the cohesive power of the state.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864506441232744577?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Price Action: Meanwhile, Bitcoin continued to push well over $100,000, trading at $103,158.89, up 7.58% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Pixabay
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42282144/will-your-bitcoin-holdings-be-at-risk-if-trump-establishes-a-national-reserve-analyst-says-government-can-employ-carrot-and-stick-policy">Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

$LTC

Happy Bitcoin $100K Day: Here's How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is attracting hedge fund interest through its convertible notes offerings, as co-founder Michael Saylor continues his aggressive Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase strategy that has driven the <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">company&#8217;s stock up more than 490% this year</a>, as of Wednesday.
What Happened: Calamos Advisors LLC, among other major hedge funds, has appeared as a key player in MicroStrategy&#8217;s $6 billion convertible note issuance this year, <a href="https://www.bloomberg.com/news/articles/2024-12-05/convertible-bond-arbs-are-making-microstrategy-wall-street-s-hottest-trade">reported</a> Bloomberg. 
These notes, created to finance the company&#8217;s growing cryptocurrency holdings, have become attractive vehicles for market-neutral arbitrage strategies.
&#8220;Convertibles are a way for issuers to monetize the volatility of their stocks, and MicroStrategy is an extreme example,&#8221; said Eli Pars, co-chief Investment Officer at Calamos Advisors, whose firm, through various strategies, holds over $130 million in MicroStrategy notes.
See Also: <a href="https://www.benzinga.com/markets/eurozone/24/12/42330913/mohamed-el-erian-calls-michel-barniers-ouster-an-example-of-messy-politics-notes-greek-and-french-bonds-achieving-historic-parity">Mohamed El-Erian Calls Michel Barnier&#8217;s Ouster An Example Of &#8216;Messy Politics,&#8217; Notes Greek And French Bonds Achieving Historic Parity</a>
Why It Matters: Saylor&#8217;s transformation of the enterprise software company has led to the accumulation of Bitcoin now valued at approximately $40 billion. 
The strategy has attracted prominent hedge funds including Linden Advisors, Context Capital, Graham Capital, and Millennium Management. These firms typically employ convertible arbitrage tactics, capitalizing on MicroStrategy&#8217;s exceptional volatility – averaging 5.2% daily movements compared to the S&amp;P 500&#8217;s 0.6%.
The timing appears favorable as <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">Bitcoin recently crossed $100,000</a>, driving MicroStrategy&#8217;s shares up 8.7%. However, critics like David Trainer, CEO of New Constructs LLC, warn about potential risks: &#8220;It could be a giant house of cards that will crush many shareholders when it crashes.&#8221;
Price Action: MicroStrategy last traded at $406 after an 8.72% surge on Wednesday. In after-hours trading, the stock rose an additional 1.07%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42331305/peter-schiff-backs-bitcoin-pioneer-roger-vers-motion-to-dismiss-tax-evasion-charges">Peter Schiff Backs &#8216;Bitcoin Jesus&#8217; Roger Ver&#8217;s Motion To Dismiss Tax Evasion Charges</a></li>
</ul>
Image via Flickr

Equities

MSTR

Michael Saylor's Bitcoin Strategy Drives MicroStrategy's 490% Surge, Hedge Fund CIO Says It's An 'Extreme Example' Of Volatility Monetization

On Wednesday, Amazon.com, Inc. co-founder Jeff Bezos shared his positive outlook on Donald Trump&#8217;s upcoming second term, underscoring potential regulatory reductions.&nbsp;
What Happened: In an <a href="https://www.nytimes.com/2024/12/04/business/dealbook/jeff-bezos-trump-amazon-washington-post.html">interview</a> at the New York Times DealBook Summit, Bezos expressed his willingness to assist in cutting regulations.
&#8220;I&#8217;m actually very optimistic this time around,&#8221; he stated referring to Trump&#8217;s enthusiasm for reducing regulations. &#8220;My point of view is, if I can help him do that, I'm going to help him, because we do have too much regulation in this country.&#8221;
See Also: <a href="https://www.benzinga.com/24/12/42256614/trumps-ai-czar-plans-alibabas-new-model-cathie-wood-on-tesla-ai-and-musks-combat-transformation-this-week-in-artificial-intelligence?itm_source=parsely-api">Trump&#8217;s AI Czar Plans, Alibaba&#8217;s New Model, Cathie Wood On Tesla AI, And Musk&#8217;s Combat Transformation: This Week In Artificial Intelligence</a>
Bezos also mentioned his plans to persuade Trump to reconsider his stance on the press.&nbsp;
&#8220;I'm going to try to talk him out of that idea,&#8221; he stated, adding, &#8220;The press is not the enemy.&#8221;
The tech mogul also commented on Elon Musk&#8217;s role in the upcoming term, expressing confidence that the SpaceX CEO would not use his influence to harm competitors Blue Origin.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Bezos's latest statements came after he decided in October to stop The Washington Post from <a href="https://www.benzinga.com/general/politics/24/10/41557083/jeff-bezos-ends-washington-posts-36-year-tradition-of-endorsements-leaving-staff-roiled">endorsing presidential candidates</a> — a move that sparked subscription cancellations and protests from journalists.
This follows <a href="https://www.benzinga.com/tech/24/11/41843591/jeff-bezos-net-worth-soars-to-record-228b-closing-in-on-elon-musks-top-spot-as-amazon-stock-rises-after-trump-wins-white-house">past tensions</a> between Trump and Bezos, including accusations of bias affecting Amazon.com Inc. during a Pentagon contract bid.
In the past, Bezos and Trump have had a contentious relationship, with the President-elect frequently targeting the former on social media.
In 2018, Trump accused Amazon of avoiding adequate tax payments. In 2019, Amazon filed a lawsuit against the Trump administration, alleging that the President-elect&#8217;s animosity had unfairly impacted its bid for a $10 billion cloud computing contract.
During this year's presidential elections, while Bezos refrained from endorsing any candidate, he <a href="https://www.benzinga.com/news/24/11/41796344/tim-cook-mark-zuckerberg-and-jeff-bezos-congratulate-trump-whats-next-for-the-tech-giants">congratulated Trump on his victory</a>, describing it as an "extraordinary political comeback."
Image via Flickr
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42306998/zuckerberg-seeks-active-role-in-trumps-tech-policies-says-metas-president-of-global-affairs-while-admitting-they-overdid-it-a-bit-during-pandemic-content-crackdown?itm_source=parsely-api">Zuckerberg Seeks &#8216;Active Role&#8217; In Trump&#8217;s Tech Policies, Says Top Executive — Admits Meta &#8216;Overdid It&#8217; During Pandemic Content Crackdown</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Tech

Media

$ETH

Jeff Bezos Optimistic About Trump's Second Term, Wants To Help Streamline Rules: 'We Do Have Too Many Regulations In This Country'

Renowned economist Peter Schiff on Wednesday backed early Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) adopter Roger Keith Ver in his fight against U.S. authorities on tax evasion charges. 
What Happened: Schiff called Ver&#8217;s motion to dismiss the U.S. Department of Justice&#8217;s indictment for deliberately avoiding tax liability of nearly $50 million &#8220;correct.&#8221;
&#8220;It's an unapportioned direct tax. Hopefully, he wins, forcing the government to lower the top income tax rate or risk a flood of expatriations,&#8221; Schiff argued.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> pioneer <a href="https://twitter.com/rogerkver?ref_src=twsrc%5Etfw">@rogerkver</a>&#39;s motion to dismiss tax evasion charges on the grounds that the &quot;exit tax&quot; is unconstitutional is correct; it's an unapportioned direct tax. Hopefully, he wins, forcing the government to lower the top income tax rate or risk a flood of expatriations.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864381311969804406?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330125/fed-chair-powell-says-economy-remains-strong-bitcoin-is-like-gold-expert-weighs-in">Fed Chair Powell Says Economy Remains Strong, Bitcoin Is &#8216;Like Gold&#8217;: Expert Weighs In</a>
Why It Matters: Ver, also known as &#8220;Bitcoin Jesus,&#8221; was <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38535711/bitcoin-jesus-roger-ver-arrested-in-spain-on-tax-evasion-charges">arrested in Spain</a> earlier this year and charged with mail fraud, tax evasion, and filing false tax returns. 
According to the indictment, Ver—a former resident of California—allegedly began acquiring significant amounts of Bitcoin for himself and his companies in 2011. In 2014, he renounced U.S. citizenship, triggering a legal obligation to report capital gains and pay an "exit tax" on his Bitcoin holdings. 
Additionally, the DOJ alleged that Ver<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38594967/bitcoin-jesus-roger-ver-charged-with-tax-fraud-how-much-does-he-owe-from-his-bitcoin-gains"> avoided a tax liability of about $50 million</a> on Bitcoin sales of $240 million in 2017, even though he was not a U.S. citizen.
In the motion to dismiss, Ver&#8217;s legal team argued that the &#8220;exit tax&#8221; obligation is unconstitutional, as it ignores constitutional protections for American citizens looking to expatriate.
Ver was an early investor in Bitcoin and Bitcoin-related startups like Bitcoin.com and blockchain.com.
Price Action: In other major news, Bitcoin hit the historic $100,000 milestone for the first time, up 5.74% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330146/congressman-buys-meme-coins-ski-mask-dog-coin-climbs-in-value-after-disclosure-i-liked-the-coins-so-i-bought-them">Congressman Buys Meme Coins? Ski Mask Dog Coin Climbs In Value After Disclosure: &#8216;I Liked The Coins, So I Bought Them&#8217;</a></li>
</ul>

General

Peter Schiff Backs 'Bitcoin Jesus' Roger Ver's Motion To Dismiss Tax Evasion Charges

On Wednesday, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s largest cryptocurrency, crossed the $100,000 barrier for the first time.
What happened: The prized digital asset resisted pushback from bears to eventually surpass the long-awaited milestone.&nbsp;
The news was cheered by the cryptocurrency community, with MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) CEO Michael Saylor, one of the biggest Bitcoin advocates, calling for a $100,000 party.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is going to be a 100K Party. &#x1f680;<a href="https://t.co/Vo52KQZRe5">https://t.co/Vo52KQZRe5</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1864500456552005731?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a>
Bitcoin has been set into a record-breaking bull run after President-elect Donald Trump's presidential victory last month. The asset has jumped 48% since the event, and more than 126% year-to-date.&nbsp;
Price Action: At the time of writing, Bitcoin was trading at $100,800.66, up 6.23% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42282144/will-your-bitcoin-holdings-be-at-risk-if-trump-establishes-a-national-reserve-analyst-says-government-can-employ-carrot-and-stick-policy">Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy</a></li>
</ul>

Movers

Trading Ideas

Bitcoin Hits Historic $100K Milestone, Michael Saylor Gets Ready For Party

U.S. stocks saw a positive day with the Dow Jones climbing approximately 300 points. The NASDAQ rose by 1.3%, closing at 19,735.12, while the S&amp;P 500 increased by 0.6% to 6,086.49.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
MicroStrategy Inc.
MicroStrategy shares surged 8.72%, closing at $406. The stock reached an intraday high of $409.97 and a low of $365.60, with a 52-week range of $43.89 to $542.99. Michael Saylor, the company&#8217;s executive chairman, suggested that Microsoft could <a href="https://www.benzinga.com/markets/24/12/42322403/michael-saylor-says-microsoft-could-add-4-trillion-in-valuation-by-investing-in-bitcoin">add $4 trillion</a> to its valuation by integrating Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) into its financial strategy.
UnitedHealth Group Inc.
UnitedHealth&#8217;s stock rose by 0.92%, closing at $610.79, after hitting a high of $622.83 and a low of $606.97. The 52-week range stands between $436.38 and $630.73. The company was in the spotlight following the tragic news of Brian Thompson, CEO of its UnitedHealthcare division, <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">being fatally shot</a> in a targeted attack in New York.
SoundHound AI Inc.
SoundHound AI&#8217;s stock jumped 14.30%, closing at $10.15. It peaked at $10.19 and dipped to $8.94 during the day, with a 52-week high of $10.25 and a low of $1.62. The stock&#8217;s rise is attributed to the successful deployment of its&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42326810/soundhound-ai-shares-are-on-the-rise-today-whats-going-on">conversational AI</a>&nbsp;technology, Amelia, in France, and its partnership with Kia to integrate voice AI in vehicles.
SentinelOne Inc.
SentinelOne shares increased by 4.06%, closing at $28.68. The stock&#8217;s intraday high was $29.06, with a low of $27.83, and a 52-week range of $14.33 to $30.76. The company reported a 28% year-over-year revenue increase in its third-quarter financial results, with <a href="https://www.benzinga.com/news/earnings/24/12/42327667/whats-going-on-with-sentinelone-stock-after-hours">annualized recurring revenue</a> reaching $859.7 million.
Tesla Inc.
Tesla&#8217;s stock rose by 1.85%, closing at $357.93, with an intraday high of $358.1 and a low of $348.60. The 52-week range is $138.80 to $360. A Goldman Sachs analyst recently <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42319796/tesla-analyst-lowers-q4-delivery-estimate-says-2-dynamics-will-determine-ev-stocks-valuation">lowered Tesla&#8217;s fourth-quarter delivery estimates</a>, citing weak demand, but maintained a Neutral rating with a $250 price target.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

SOUN

TSLA

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Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell's favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.88%</td>
<td>$98,465.76</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.01%</td>
<td>$3,808.09</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.25%</td>
<td>$0.4253</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency breached $99,000 after a 10-day gap, while Ethereum tapped $3,800 for the first time in six months.&nbsp;
The rally was likely spurred by Powell <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42325788/fed-chair-powell-bitcoin-is-like-gold-just-virtual-and-digital">equating Bitcoin with gold</a> and dispelling notions that the leading cryptocurrency was a threat to the U.S. monetary system.
The appointment of Paul Atkins, perceived to be <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42323248/trump-nominates-paul-atkins-as-sec-chair-emphasizing-digital-assets-as-key-to-making-america-greater">cryptocurrency-friendly</a>, as SEC's next Chair by President-elect Donald Trump, also provided fuel.
More than $513 million was liquidated from the cryptocurrency market in the last 24 hours, with $330 million in bullish bets getting erased.
About $383 million in short positions risked liquidation on Binance if Bitcoin hits $100,000.
Additionally, the number of top trader accounts shorting Bitcoin exceeded those placing bullish bets on the asset, as per Long/Short Ratio.
The "Extreme Greed" strengthened from 78 to 84 in the last 24 hours, per reading from the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Curve DAO Token (CRV)</td>
<td>+23.66%</td>
<td>$1.09</td>
</tr>
<tr>
<td>The Sandbox (SAND)</td>
<td>+19.72%</td>
<td>$0.9311</td>
</tr>
<tr>
<td>Gala (GALA)</td>
<td>+18.08%</td>
<td>$0.06085</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.58 trillion, following an increase of 1.75% in the last 24 hours.
Stocks extended their record-breaking rally on Wednesday. The Dow Jones Industrial Average jumped 308.51 points, or 0.69%, to close above 45,000 for the first time. The S&amp;P 500 gained 0.61% to end at 6,086.49, while the tech-heavy Nasdaq Composite spiked 1.30%, ending at 19,735.12. All three indexes closed at record highs.
The rally comes amid <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42314234/private-employers-add-fewer-than-predicted-jobs-in-november-manufacturing-was-the-weakest-weve-seen-since-spring">lower-than-expected growth</a> in U.S. private businesses in November.
Investors shrugged off Fed Chair Powell's remarks on moving cautiously with rate cuts given the healthy state of the economy, as odds of a 0.25% slash increased from 72.9% to 74% in the last 24 hours, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst venturefounder expected Ethereum to break out of the range where it has been for the last seven years.
"Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly," the analyst remarked, setting a bold price target of $15,937 by May 2025
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> about to break out of the 3 years of triangle consolidation, and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> could break out of the range where it has been for past 7 yrs. Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly Price Target: $15,937 by May 2025 <a href="https://t.co/YpOeWmM03T">pic.twitter.com/YpOeWmM03T</a>
&mdash; venturefounder (@venturefounder) <a href="https://twitter.com/venturefounder/status/1864411777703833742?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
CrypNuevo, a popular X account known for offering technical analysis, predicted that a decisive close above $98,398 will propel Bitcoin to $104,000-$105,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> update: 4h time frame &#x270d;&#xFE0F; Acceptance above this dotted yellow line, 2-3 candles above it is enough to signal a potential push to $104k-$105k. Very important: candle closes above it! I don&#39;t want wicks (resistance), I want candle closes. In the meantime, patience&#8230; <a href="https://t.co/rAnsPbhzPw">pic.twitter.com/rAnsPbhzPw</a>
&mdash; CrypNuevo &#x1f528; (@CrypNuevo) <a href="https://twitter.com/CrypNuevo/status/1864443770902651141?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Citing on-chain data, Influential analyst Ali Martinez revealed that nearly 400 whales, those holding between 100 and 10,000 BTC, have joined the network in the last two weeks.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Around 400 new <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whales—holding between 100 and 10,000 $BTC—have joined the network in the last two weeks! <a href="https://t.co/7qY6EGOWKv">pic.twitter.com/7qY6EGOWKv</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1864355485291565257?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
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$DOGE

Bitcoin, Ethereum, Dogecoin Jump On Jerome Powell's Bullish BTC Take, Paul Atkins SEC Nomination: Analyst Highlights Impressive 320% Upside For ETH By May

On Wednesday, Walt Disney Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ announced its expansion in sports content via the integration of ESPN into its platform.
What Happened: Subscribers to the Disney+ bundle, which includes Hulu and ESPN+, will now be able to access all their content in one place.
Standalone Disney+ subscribers will also benefit by gaining access to ESPN+ content, primarily featuring college football and basketball, along with select premium live events.
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This integration is a step towards launching ESPN&#8217;s direct-to-consumer service Flagship, which is expected in Fall 2025, the company stated in a blog post.
Standalone Disney+ users will have access to live ESPN events, including five NBA games on Christmas Day and the opening day of the Australian Open.
Special broadcasts like the &#8220;Monday Night Football&#8221; alternate featuring The Simpsons and the &#8220;Dunk the Halls&#8221; NBA broadcast are already scheduled for Disney+.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: In September, Macquarie analyst Tim Nollen said, the launch of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40946689/disney-faces-more-change-ahead-as-espn-dtc-launch-will-accelerate-cord-cutting-nba-">ESPN&#8217;s direct-to-consumer platform</a> could accelerate cord-cutting trends, which will impact traditional cable revenues.
Earlier this month, it was reported that PENN Entertainment has been closely monitoring <a href="https://www.benzinga.com/general/sports-betting/24/11/41852305/penn-entertainment-analysts-say-all-eyes-remain-on-espn-bet-after-q3-earnings-miss">ESPN&#8217;s integration</a>. The company sees potential growth opportunities in 2025, partly due to ESPN&#8217;s expanded reach and product enhancements.
Disney&#8217;s <a href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance">fourth-quarter earnings</a> report highlighted a 6% increase in revenue, reaching $22.57 billion, slightly surpassing the projected $22.35 billion from analysts.&nbsp;
Price Action: Disney&#8217;s stock edged up by 0.46% on Wednesday, closing at $116.99, with a further 0.060% increase in after-hours trading. So far this year, Disney shares have risen 28.97%, slightly trailing the Nasdaq 100 index, which has gained 29.91% during the same timeframe, <a href="http://pro.benzinga.com/">as per Benzinga Pro data</a>.
Disney has a consensus price target of $121.41 from 30 analysts, with the highest set at $140 by BofA Securities on Nov. 15. The latest ratings from Needham, Evercore ISI Group, and Needham average $131.33, indicating a potential 12.19% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/DIS/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04204909/Screenshot-2024-12-05-at-7.19.03%E2%80%AFAM-1024x376.png" alt="" class="wp-image-677698" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

ESPN Lands On Disney+ in Major Content Fusion: Here's What It Actually Means

Mohamed El-Erian, Allianz&#8216;s Chief Economic Advisor, warned on Wednesday about the growing intersection of political and economic challenges in France following Prime Minister Michel Barnier&#8216;s historic no-confidence ouster, even as Greek bonds achieved parity with French sovereign debt for the <a href="https://www.benzinga.com/news/global/24/12/42328909/french-government-collapses-after-vote-of-no-confidence">first time since the Eurozone crisis</a>.
What Happened: &#8220;What we are seeing in France these days is yet another example of messy politics contaminating economics,&#8221; El-Erian wrote on X, distinguishing the current situation from Britain&#8217;s 2022 &#8220;Liz Truss moment&#8221; due to France&#8217;s Eurozone backing and different global financial context.
The political upheaval comes as Greek 10-year sovereign bonds closed their yield gap against French bonds in late November, trading below 3% &#8211; a remarkable turnaround from the peak of the Eurozone crisis when Greek bonds yielded 40 percentage points more than French debt.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I was just asked whether the current political moment in France is a &quot;Liz Truss moment.&quot; Several reasons led me to answer no, including: The Truss moment was about a bad budgetary situation being made worse; the &quot;Barnier moment&quot; is about obstacles to making a bad budgetary…
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1864270186867478530?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Bank of America analyst Athanasios Vamvakidis attributes Greece&#8217;s resurgence to fiscal discipline and economic reforms, with the country expecting a primary budget surplus of 2.4% of GDP this year, <a href="https://www.euronews.com/business/2024/11/29/greek-bonds-mark-historical-milestone-spread-erased-against-france">reported</a> Euronews. Meanwhile, according to Goldman Sachs, France faces mounting pressure over its rising debt-to-GDP ratio, which is projected to reach 118% by 2027.
See Also: <a href="https://www.benzinga.com/24/12/42324505/jerome-powell-says-us-economy-in-remarkably-good-shape-fed-can-be-little-more-cautious-with-interest-rates">Jerome Powell Says US Economy In &#8216;Remarkably Good Shape,&#8217; Fed Can Be &#8216;A Little More Cautious&#8217; With Interest Rates</a>
Why It Matters: Barnier&#8217;s removal followed <a href="https://www.benzinga.com/news/global/24/12/42328909/french-government-collapses-after-vote-of-no-confidence">parliamentary opposition to his proposed</a> €60 billion spending-cut package, with National Rally leader Marine Le Pen calling the budget &#8220;toxic for the French.&#8221; 
The political stalemate threatens to complicate France&#8217;s fiscal consolidation efforts as Eurostat forecasts French economic growth to slow to 0.8% in 2025, while Greece is projected to grow by 2.3%.
President Emmanuel Macron is expected to name a new prime minister, though the political deadlock in the Assembly will likely persist until new elections can be held in July. 
El-Erian noted that while France benefits from Eurozone institutional support, the current situation &#8220;will undermine growth and raise borrowing costs.&#8221;
Investors can track the market&#8217;s response to political turmoil via the iShares MSCI France ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), offering focused exposure to the French economy. The ETF&#8217;s top holdings feature LVMH Moët Hennessy Louis Vuitton (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMHF#OTC">LVMHF</a>), TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>), and Schneider Electric (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSY#OTC">SBGSY</a>).
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Eurozone

ETFs

LVMHF

SBGSY

Mohamed El-Erian Calls Michel Barnier's Ouster An Example Of 'Messy Politics,' Notes Greek And French Bonds Achieving Historic Parity

Marshall Mathers, better known as Eminem, once openly admitted to being cautious with money, a habit that might have played a key role in building his $250 million empire.
What Happened: In a 2011 interview with Anderson Cooper on 60 Minutes, Eminem revealed his surprisingly thrifty mindset despite his immense success.
When Cooper asked if he enjoyed spending money, the rapper replied, "Not particularly." Cooper then shared a story about Eminem calling his manager to ask if he <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38138323/rolex-ceo-does-not-like-treating-luxury-watches-as-stock-investments-this-sends-the-wrong-">could afford</a> a Rolex watch.
Recalling the moment, Eminem said, "Yeah, I think it was a Rolex. And I asked him, could I afford it? They make fun of me for it, but I'm for real. This whole money thing was brand new to me."
While Cooper teased him for being a hip-hop artist who avoids flashy spending, Eminem defended his practicality. "I bought the Rolex; it's not a cheap watch. I still have it. I don't wear it because I don't want to scratch it," he said.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/07/39892457/eminem-dethrones-taylor-swift-with-new-album-the-death-of-slim-shady">Eminem Dethrones Taylor Swift With New Album &#8216;The Death Of Slim Shady&#8217;</a>
Instead, Eminem revealed he wears a G-Shock watch, manufactured by Casio Computer (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSIOY#OTC">CSIOY</a>), valued at around $100, as a practical and durable alternative to luxury brands.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Financial Advisor Reacts to Eminem&#039;s approach to SPENDING MONEY!" width="500" height="281" src="https://www.youtube.com/embed/ojZ8N6j9sU8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It Matters: Growing up in Detroit, Michigan, Eminem faced financial struggles that shaped his cautious approach to money.
However, today, the "Lose Yourself" rapper has a net worth of $250 million, <a href="https://www.celebritynetworth.com/richest-celebrities/richest-rappers/eminem-net-worth/">according</a> to Celebrity Net Worth. He has built a diverse portfolio that extends far beyond music.
Eminem has made over $107.5 million in digital sales, with streaming revenue alone adding between $11 million and $20 million, <a href="https://moneymade.io/learn/article/eminem-net-worth">reported</a> Money Made, citing the Recording Industry Association of America.
His record label, Shady Records, and highly successful tours, including a $36.4 million-grossing tour with Rihanna, have further bolstered his wealth.
Beyond music, Eminem has expanded into acting, with his 2002 biopic "8 Mile" grossing $243 million worldwide and earning him an Academy Award for Best Original Song.
He's also ventured into brand endorsements, partnering with companies like Nike and Carhartt, and made strategic investments in stocks, startups, and NFTs.
Photo Courtesy: Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

CSIOY

Eminem Wasn't Sure If He Could Afford A Rolex Despite His Success — How The Rap Legend's Thrifty Habits Helped Him Build A $250M Empire Spanning Real Estate And NFTs

AGRI

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

<a href="https://www.benzinga.com/startups/24/11/41852620/theres-a-great-place-to-go-when-youre-broke-to-work-says-dave-ramsey-about-a-piece-of-advice-he-got">Dave Ramsey</a> has built a name for himself as the financial guru who preaches a simple, no-nonsense approach to money: ditch the credit cards, pay off your debt and live within your means. Millions have embraced his advice, <a href="https://www.benzinga.com/personal-finance/24/09/40920706/billionaire-mark-cuban-says-his-credit-was-so-bad-radio-shack-denied-him-if-you-use-credit-cards">cutting up their credit cards</a> and committing to his cash and debit-only spending philosophy. But for one former Ramsey follower, this rigid system left them in a devastating bind during a family emergency.
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"We were dumb and bought into the no credit card thing," the user shared in a Reddit post. For a while, life seemed manageable. They were "moving along. Slowly. But moving." That changed when a death in the family required them to travel out of town. Without a credit card, they couldn't rent a car. "Tried every place at the airport. Found only one place that would rent using a debit card and they required proof of return flight. I didn't have the money to fly, so I didn't have a return flight!"
The user, left with no other option, explained, "Had to Uber to the funeral home and then beg for a ride off someone to get to the cemetery." Then, they had to beg for more rides back to the bus station. What should have been a moment to focus on grieving turned into a humiliating scramble because they followed Ramsey's directive to never use credit cards.
See Also: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Ramsey is firm on this point: credit cards are dangerous, unnecessary and should never be kept, even for emergencies.&nbsp;
"Get rid of the credit cards NOW so you don&#8217;t use them in a moment of weakness," he's stated, according to Fox Business. Ramsey believes that having credit cards encourages overspending and reliance on debt. Instead, he recommends building an emergency fund with 3–6 months' worth of expenses and living strictly on cash and debit cards.
Ramsey even directly addressed the car rental issue in a June 2022 Instagram post. He wrote, "Yes, you can still rent a car or an apartment or even get a mortgage without a credit score. It takes a little more effort to live without one, but it&#8217;s a lot better than owing people money for the rest of your life."
<a href="https://www.instagram.com/p/CfCAN9qObUr/?igsh=MTVzbW05cms5Y2p5Yg==">https://www.instagram.com/p/CfCAN9qObUr/?igsh=MTVzbW05cms5Y2p5Yg==</a>
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
But as the Reddit user discovered, life doesn't always work within the confines of a perfect financial plan. Emergencies happen and there are situations where cash and debit simply don't suffice. After their funeral ordeal, they decided to get a credit card but found the process difficult and frustrating due to their lack of recent credit history. They eventually secured a low-limit, high-fee card and began rebuilding from scratch.
The issues didn't stop there. Later, lenders turned them down when they tried to refinance their home because of their limited credit history. "No one would touch us. We were never late with a payment, but had no real credit history for the past year or so," they explained. Even Ramsey's financial advisors offered little help, suggesting they find a private lender operating as an LLC. "Seriously. That's insane," they wrote.
Trending: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
Looking back, the Reddit user admitted they made a mistake. "Our own stupid fault for believing this blowhard and his advice," they said. Other commenters pointed out that there's a middle ground. "I think you could've just paid off the credit card and not used it or kept it only for emergency situations such as this," one person suggested.
This story highlights the potential downsides of Ramsey's <a href="https://www.benzinga.com/personal-finance/24/07/39735296/dave-ramsey-says-you-should-withdraw-at-8-in-retirement-but-suze-orman-says-absolutely-not-and-c">one-size-fits-all approach</a>. While his advice has helped many people escape crushing debt, it doesn't account for the complexities of modern life. Credit cards aren't inherently bad – they're tools and like any tool, they can be misused. Keeping a credit card for emergencies, maintaining good credit history and using it responsibly could have saved this family from significant stress.
"Just beware the advice you take," the user warned. Ramsey's rigid <a href="https://www.benzinga.com/personal-finance/24/11/42172292/caller-asks-dave-ramsey-are-you-smarter-than-warren-buffett-as-he-claims-index-funds-outperform-actively-managed-funds-by-50">rules might work for some</a>, but for others, they could lead to being stranded in their moment of greatest need.
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Personal Finance

'Had To Uber To The Funeral Home And Beg For A Ride' – This Family Says Dave Ramsey's No-Credit Advice Failed Them

The trading activity of members of Congress is closely followed by investors as the buying and selling of stocks can come based on alleged information. Now investors have to follow the trading activity of Congress members when it comes<a href="https://www.benzinga.com/topic/meme-coins"> to meme coins.</a>
What Happened: A trading disclosure by Rep. Mike Collins (R-Ga.) caught the attention of social media as he disclosed buying two cryptocurrencies this week following his recent trading activity of<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36598903/move-over-bitcoin-etf-this-congressman-has-been-buying-ethereum"> buying and selling cryptocurrency.</a>
Collins disclosed that he bought $2,000 to $30,000 worth of meme coin Ski Mask Dog (CRYPTO: SKI) based on two transactions of $1,000 to $15,000 in size. The congressman also disclosed buying Aerodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">AERO</a>), a cryptocurrency he has purchased before.
The disclosures can be found on the <a href="https://www.benzinga.com/gov-trades/members/mike-collins">Benzinga government trading page </a>for Collins. 
Several of the most well-known social media accounts that track congressional trading activity tweeted about the unusual purchase.
<ul>
<li>"Congressman @RepMikeCollins bought crypto ‘Ski Mask Dog' $SKI two days ago. The coin is up +210% in the last seven days," Congresstrading <a href="https://x.com/congresstrading/status/1863999720747680247">tweeted</a>.</li>
<li>"Just came across one of the wildest trades I've seen. U.S. Representative Mike Collins just bought up to $30K of a cryptocurrency called ‘Ski Mask Dog'. It appears to have a market cap of less than $100M," QuiverQuant <a href="https://x.com/QuiverQuant/status/1863957645951934886">tweeted</a>.</li>
<li>"Look at this. US politician Michael Collins buys up to $15,000 of $AERO crypto and up to $15,000 of SKI MASK DOG crypto. Unusual," Unusual Whales <a href="https://x.com/unusual_whales/status/1863972451161620912">tweeted</a>.</li>
</ul>
While all three tweets attracted interest on social media, it was the tweet from Unusual Whales that caught the attention of Collins, who <a href="https://x.com/RepMikeCollins/status/1864031318712946793">replied </a>to the tweet with a meme of Pepe the Frog, well-known in the crypto community thanks to the meme cryptocurrency Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>).
Collins confirmed the purchase with <a href="https://decrypt.co/294893/base-meme-coin-congressman-mike-collins">Decrypt</a>.
"I liked the coins, so I bought them," Collins told Decrypt. "Washington and Wall Street have stigmatized emerging technology in the crypto ecosystem for far too long, and it's about time that we start treating the industry with the respect it deserves."
When asked about meme coins and if they need to be disclosed by members of Congress for trading activity, Collins said yes.
"Meme coins should certainly be treated as any other asset, digital or otherwise."
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent120424">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 Why It's Important: Collins isn't new to disclosing buying and selling cryptocurrency with past disclosures showing his trading of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Aerodrome, Velodrome (CRYPTO: VELO) and The Graph (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GRT</a>).
Collins&#8217; purchases of Ethereum have been larger in recent disclosures compared to the meme coin he recently bought. The congressman has also disclosed selling some of the cryptocurrencies in the past, which could make the recent meme coin buy one to watch in case he later shows he sold it after the recent gains.
Members of Congress have <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38362018/congressman-buys-bitcoin-near-all-time-highs-how-much-has-he-lost-so-far">previously disclosed</a> buying Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>). Sometimes they also disclose more unusual purchases like former Rep. Madison Cawthorn (R-N.C.) <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27515201/blockchain-data-shows-undisclosed-trades-in-rep-madison-cawthorns-ethereum-wallet-report">buying the </a>Let's Go Brandon meme coin.
Aerodrome trades at $1.83, up 27% in the past seven days and up 14% over the past 24 hours. The cryptocurrency hit a new one-month high of $1.95 earlier today.
Ski Mask Dog, which began trading earlier this year, now has a market capitalization of more than $230 million. The meme coin has soared in value and is up 76% over the past 24 hours, likely due in part to Collins' disclosure.
The meme cryptocurrency currently trades at $0.241 at the time of writing, hitting a new all-time high of $0.2551 earlier Wednesday.
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Photo: Shutterstock

Politics

$AERO

Golden Ratio Token - United States Dollar

$GRT

$PEPE

$VELO

Congressman Buys Meme Coins? Ski Mask Dog Coin Climbs In Value After Disclosure: 'I Liked The Coins, So I Bought Them'

Federal Reserve Chair Jerome Powell said the U.S. economy remains strong and even commented on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) at the New York Times <a href="https://www.benzinga.com/24/12/42324505/jerome-powell-says-us-economy-in-remarkably-good-shape-fed-can-be-little-more-cautious-with-interest-rates">DealBook Summit on Wednesday. </a>
The Details: "The U.S. economy is in very good shape right now. It's in remarkably good shape, we are sort of the envy of other large economies around the world, and I'm going to do everything I can to keep it there during the rest of my term, and I feel very good about where the economy is and where monetary policy is," Powell said.
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Powell said the current state of the economy allows the Fed to exercise caution in moving rates back down to a more neutral level.
"We view this as slightly hawkish — but stopping well short of challenging the market's growing confidence that a December cut is the base case, which has been our view all along," Krishna Guha at Evercore said, per Bloomberg.&nbsp;
The Fed's next rate decision is scheduled for Dec. 18 and markets are placing about a 75% probability that the Federal Open Market Committee will cut its key borrowing rate by a quarter percentage point. According to CNBC, the <a href="https://www.cnbc.com/2024/12/04/powell-says-hes-not-worried-about-the-fed-losing-its-independence-under-trump.html">expectation</a> is that the Fed then skips the January meeting before cutting a few more times in 2025.
Powell on BTC: Powell <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42325788/fed-chair-powell-bitcoin-is-like-gold-just-virtual-and-digital">also addressed </a> Bitcoin at the DealBook Summit. 
"People use Bitcoin as a speculative asset. It's like gold — it's just virtual and digital," Powell<a href="https://x.com/andrewrsorkin/status/1864379310599196846"> said</a> during the discussion.
"It's not a competitor for the dollar. It's really a competitor for gold," he added.
The price of Bitcoin pushed higher, approaching the $100,000 level, after Powell's comments and crypto-proponents spoke out on social media.&nbsp;
Anthony Pompliano, CEO of Professional Capital Management, reflected on the crypto market's reaction to Powell's comments.&nbsp;
"Bitcoin is going up because people are realizing central banks and countries don&#8217;t hate Bitcoin anymore. Poetic," Pompliano <a href="https://x.com/APompliano/status/1864415928831619304">posted </a>on X. 
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Photo: Shutterstock

Federal Reserve

Fed Chair Powell Says Economy Remains Strong, Bitcoin Is 'Like Gold': Expert Weighs In

On Wednesday, former Speaker Nancy Pelosi (D-Calif.) publicly backed President Joe Biden&#8217;s controversial decision to pardon his son, Hunter Biden.
What Happened: Pelosi expressed her support for the presidential pardon, stating, &#8220;I support the president.&#8221; When asked if she specifically backed the pardon, Pelosi said, &#8220;The pardon, yes,&#8221; <a href="http://What Happened: As per The Hill, Pelosi expressed her support for the presidential pardon, stating, &quot;I support the president.&quot; When asked if she specifically backed the pardon, Pelosi affirmed, &quot;The pardon, yes,&quot; reported The Hill.">reported</a> The Hill.
This endorsement is in stark contrast to the reactions of several Democrats on Capitol Hill and beyond, who have openly criticized Biden&#8217;s move. Sen. Gary Peters (D-Mich.) stated that the pardon &#8220;was wrong,&#8221; and Sen. Michael Bennet (D-Colo.) argued it puts &#8220;personal interest ahead of duty.&#8221;
Biden announced a &#8220;full and unconditional pardon&#8221; for his son on Sunday night, causing a stir in Washington. This move marked a significant shift from the White House&#8217;s previous stance, which had consistently denied any intention to pardon Hunter Biden or commute his sentence.
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42202403/elizabeth-warren-bernie-sanders-12-congress-members-to-biden-issue-clemency-and-pardons-for-cannabis-prisoners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren, Bernie Sanders &amp; 12 Congress Members To Biden: Issue Clemency And Pardons For Cannabis Prisoners</a>
Pelosi&#8217;s support is particularly noteworthy given the circumstances surrounding Biden&#8217;s decision to drop his reelection bid earlier this year. Pelosi was reportedly among the Democrats urging Biden to step down from the presidential race.
Why It Matters: The pardon, announced on Sunday, was <a href="https://www.benzinga.com/24/12/42258387/biden-grants-full-and-unconditional-pardon-to-hunter-i-hope-americans-will-understand">justified by Biden </a>as a response to the selective and unjust prosecution of his son. The President argued that his son was treated differently than others who had committed similar offenses.
Historically, Biden is not the first president to pardon a family member involved in legal or political controversy. Former presidents Bill Clinton and Donald Trump also <a href="https://www.benzinga.com/markets/cannabis/24/12/42274099/after-hunter-pardon-biden-may-consider-others-what-to-expect">pardoned family members</a>.
Following Biden&#8217;s pardon of his son, speculation has intensified about potential pardons by President-elect Trump, with traders assigning an <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42273301/joe-biden-pardons-hunter-donald-trump-likely-to-pardon-january-6-protestors-polymarket-traders-speculate">85% chance of a pardon</a> for the January 6th rioters in the first 100 days.
Image via Flickr/ Gage Skidmore
Did You Know?
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Nancy Pelosi Stands With Biden On Hunter Pardon: 'I Support The President'

Southeast Asia's leading superapp leverages AWS to enhance operational efficiency across eight countries
At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and Grab, Southeast Asia's leading superapp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>), announced that Grab has selected AWS as its preferred cloud provider. With AWS, Grab is pursuing a technology-led strategy to accelerate growth across its mobility, deliveries, and financial services verticals, including its new digibanks, while continuing to improve its operational efficiencies and reduce IT infrastructure costs.

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Grab Selects AWS As Its Preferred Cloud Provider To Drive Technology Innovation And Growth

Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>, ASX:MSB))), global leader in allogeneic cellular medicines for inflammatory diseases, today announced the United States Food and Drug Administration (FDA) has granted its second generation allogeneic, STRO3-immunoselected, and industrially manufactured stromal cell therapy Revascor&#xAE; (rexlemestrocel-L) Regenerative Medicine Advanced Therapy (RMAT) designation following submission of results from the randomized controlled trial in children with hypoplastic left heart syndrome (HLHS), a potentially life threatening congenital heart condition.

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FDA Grants Mesoblast's Revascor Regenerative Medicine Advanced Therapy Designation In Children With Congenital Heart Disease

Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>, Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen")), Corporate headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, ", Biogen", ) announced today that the Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) in Mexico has approved humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody "LEQEMBI&#xAE;" (lecanemab) for the treatment of early Alzheimer's disease (AD)&#x2A;.

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Biogen Announces LEQEMBI Approved For The Treatment Of Early Alzheimer's Disease In Mexico

Fourth Quarter 2024 Financial and Operational Update
The Company is increasing its fourth quarter 2024 Adjusted EBITDA&#x2A; guidance to a range of $36 million to $39 million, compared to its prior expectation for a range of $33 million to $36 million. The primary drivers behind the updated range are continued enhanced utilization levels and improved cost absorption in the Solaris Power Solutions segment. The Company expects to deploy an average of approximately 250 MW during the fourth quarter, which reflects full utilization of its currently available asset base. In its Solaris Logistics Segment, the Company expects results to be relatively in line with expectations, which should continue to support strong total company operating cash flow generation in the fourth quarter.
Solaris Power Solutions Growth Capital Update
The Company recently placed orders for 9 additional 16.5 megawatt ("MW") gas-fired turbines to support rapidly accelerating customer demand, totaling approximately 145 MW in incremental generation capacity. Solaris now expects to exit first quarter 2026 with approximately 680 MW of generation capacity. The Company expects to invest up to $120 million for the new turbine order, including ancillary equipment. Additionally, the Company expects to invest approximately $40 million in Selective Catalytic Reduction ("SCR") technology to further enhance the emissions profile of the fleet in support of multi-year installations on selected locations. This expected approximately $160 million growth capital investment should occur primarily over the course of 2025, with equipment deliveries scheduled to occur from fourth quarter 2025 through first quarter 2026.

Guidance

Solaris Energy Infrastructure Increases Q4 2024 Adjusted EBITDA Guidance From $33M-$36M To A Range Of $36M-$39M

In their newly appointed roles by Donald Trump of leading the Department of Government Efficiency, Elon Musk and Vivek Ramaswamy have their sight set on <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">eliminating government waste.</a>
The duo could have a new target to tackle: daylight saving time.
What Happened: Musk and Ramaswamy have made headlines for sharing programs and government agencies they will target in their newly announced positions of leaders of the Department of Government Efficiency, or D.O.G.E for short.
Billionaire Musk recently sparked speculation that he could have his targets set on eliminating daylight saving time with a tweet recently.
"Looks like the people want to abolish the annoying time changes!" Musk <a href="https://x.com/elonmusk/status/1861801650383659230">tweeted </a>last week, linking to an X user's poll.
Ramaswamy seemed to agree, replying "it's inefficient &amp; easy to change."
While it was not clear if the duo were serious about working on a change, it's not the first time and might not be the last time that the discussion escalates on ending the practice of changing clocks twice a year.
Daylight saving time is the process of moving clocks forward one hour in the spring and moving clocks back one hour in the fall, a practice that has to do with the number of hours with daylight for daily routines like work and school.
The process of changing time on clocks can lead to loss of sleep in the morning, missed appointments and public health problems, <a href="https://www.washingtonpost.com/health/2024/12/03/daylight-saving-time-musk-ramaswamy/">according </a>to the Washington Post.
Sen. Tommy Tuberville (R-Ala.) voiced support for Trump and Ramaswamy to make daylight saving time permanent.
"The outdated practice of changing our clocks twice a year and needs to end," Tuberville <a href="https://x.com/SenTuberville/status/1864072109074342100">tweeted</a>.
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</ul>
Why It's Important: A push for year-round daylight saving time could see clocks move ahead one hour and never fall back for more people around the world to enjoy sunshine, according to the report.
"Switching the clocks just doesn't make sense for a country on the move," Sen. Edward J. Markey (D-Mass.) told the Washington Post. "But we need permanent daylight saving time — more hours of daylight in the evening means more hours to get things done."
The Washington Post said public health groups think a permanent standard time could improve overall health and decrease the risk of heart attacks and stroke.
"There is significant stress on the body, and changes that occur, when we are not aligned to the right internal clock," University of California at San Francisco-Fresno sleep medicine physician Lourdes DelRosso told the Washington Post earlier this year.
A YouGov poll in March 2023 cited by the report said 62% of Americans were in support of ending the practice of daylight saving time. Around 50% of the poll found that people preferred year-round daylight saving time, with around a third wanting permanent standard time.
Along with health savings by making a change there could be economic savings. A <a href="https://www.chmura.com/blog/dst">study </a>from Chmura Economics &amp; Analyst estimates that the total economic cost of daylight saving time in the U.S. is $672.02 million annually.
This total includes $374.75 million from increased heart attacks, $251.53 million from increased strokes, $18.35 million other workplace injuries and $27.39 million from increased traffic accidents.
What's Next: The debate on daylight saving time has waged on for years and while many support making a permanent change, legislation has stalled and nothing has been done.
Hawaii and part of Arizona currently operate on a permanent standard time clock and some U.S. territories like American Samoa, Guam and Puerto Rico do the same.
Trump has shown past support of making daylight saving time permanent, as <a href="https://thehill.com/homenews/administration/5020756-tuberville-daylight-saving-time-doge/">reported </a>by The Hill.
In the early 1970s, a decision to adopt permanent daylight saving time was reversed 10 months later after receiving complaints about children waiting in the dark for school buses.
Attempts to change daylight saving time could require Congress to pass a bill, which could make Musk and Ramaswamy's attempts a starting point, but potentially not a final one.
The Transportation Department currently oversees daylight saving time and said it does not have the power to change without Congress, as reported by The Washington Post.
Read Next: 
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Photo: New Africa via Shutterstock

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