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Micron Solutions Inc is a diversified contract manufacturing organization that produces engineered medical device components requiring precision machining and injection molding. It provides design, engineering, quality, and regulatory expertise across the three product lines, machining, thermoplastic injection molding, and sensors. It's engaged in the production and sale of silver chloride-coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. It also provides other value-added services, including the design, manufacture, and rehabilitation of injection molding tools, pad printing, ultrasonic welding, stamping, laser marking, clean room molding, and others.

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A popular cryptocurrency analyst cautioned Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) traders on Thursday not to overly focus on the cryptocurrency, as its movements are linked to what Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) does.
What Happened: Kevin, known for sharing insights and forecasting price movements for the meme coin giant, stated, &#8220;My position is that DOGE is not in control of itself, and its fate lies purely in BTC&#8217;s hands at the moment. so overly focusing on the asset is sort of a waste of time.&#8221;
The analyst added that he was hopeful the ongoing cycle would head higher in the days ahead regardless of &#8220;short-term noises.&#8221; &#8220;Nothing else to do but sit back and wait if you&#8217;re a long-term holder who got in early like myself.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let&#39;s keep this is as simple as possible. <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> is currently trading between the macro golden pocket and the macro .5 Fib. These are two major areas of support and resistance and a break of either or will cause a cascading affect of aggressive movement. My position is that… <a href="https://t.co/Au2jWhHwTS">pic.twitter.com/Au2jWhHwTS</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1867353105178013892?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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Interestingly, Dogecoin had a 0.77 price correlation with Bitcoin, lower than Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), but higher than Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), <a href="https://app.intotheblock.com/coin/DOGE">according </a>to IntoTheBlock.
For context, a correlation close to 1 implies a strong positive correlation between the two prices while a correlation near 0 suggests no correlation.
See Also: <a href="https://www.benzinga.com/24/12/42477105/trump-linked-world-liberty-financials-purchases-have-aave-and-chainlink-topping-crypto-gainers-list">Trump-Linked World Liberty Financial&#8217;s Purchases Induce Searing Hot Rally In Aave And Chainlink</a>
Why It Matters: Kevin&#8217;s remarks came at a time when the cryptocurrency market was experiencing significant volatility. DOGE retreated on Thursday, which, in turn, followed <a href="https://www.benzinga.com/24/12/42476412/bitcoin-dogecoin-slide-ethereum-gains-amid-hotter-than-expected-inflation-data-top-analyst-makes-bullish-forecast-for-altcoin-investors">Bitcoin&#8217;s dip below $100,000</a>.
Large transaction volumes jumped 41% in the past 24 hours, indicating a surge in whale activity, per <a href="https://app.intotheblock.com/">IntoTheBlock</a> data. Long-term holders were offloading DOGE, as evidenced by a 0.88% drop in balance held by addresses that had held the cryptocurrency for at least a year.
DOGE&#8217;s Open Interest, the total money locked in derivatives contracts, also fell by 0.83%. The number of traders placing downside bets trumped those speculating on price rises, as <a href="https://www.coinglass.com/LongShortRatio">per </a>the Long/Shorts Ratio.
Price Action:  At the time of writing, Dogecoin was exchanging hands at $0.4068, down 2.50% 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>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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DOGE

Dogecoin's Fate Tied To Bitcoin, Says Crypto Analyst: 'Sit Back And Wait'

Russian state-backed hackers compromised Ukrainian military <a href="https://www.benzinga.com/news/24/04/38307336/russian-online-influence-resurgence-poses-threat-to-us-election-star-blizzard-hacking-activity-escal">devices by identifying and targeting</a> IP addresses associated with Elon Musk-owned SpaceX&#8216;s Starlink internet connections, according to a Microsoft Threat Intelligence report released Wednesday. 
What Happened: The hacking group, known as Secret Blizzard and linked to Russia&#8217;s Federal Security Service, deployed malware to specifically selected target devices between March and April after identifying Ukrainian military units through their Starlink IP address signatures.
Secret Blizzard aims to secure long-term access to systems for intelligence gathering, often targeting advanced research and politically sensitive information, utilizing extensive resources like multiple backdoors.
&#8220;The threat actor selectively deployed tools to devices of further interest—for example, devices egressing from STARLINK IP addresses, a common signature of Ukrainian front-line military devices,&#8221; Microsoft&#8217;s report stated.
Microsoft researchers observed Secret Blizzard using malware called Amadey bot to gain initial access, followed by deploying sophisticated backdoors named Tavdig and KazuarV2 to maintain long-term surveillance capabilities.
See Also: <a href="https://www.benzinga.com/24/12/42476730/peter-thiels-founders-fund-leads-600m-crusoe-investment-betting-big-on-ai-infrastructure">Peter Thiel Says, &#8216;The Biggest Risk With AI Is That We Don&#8217;t Go Big Enough&#8217; As His Founders Fund Leads $600 Million Crusoe Investment</a>
Why It Matters: The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has previously attributed Secret Blizzard to Center 16 of Russia&#8217;s FSB. The group primarily targets ministries of foreign affairs, embassies, government offices, and defense-related organizations worldwide.
Microsoft said it has directly notified affected customers and provided recommendations for strengthening network defenses against such attacks. 
The company emphasized that while this approach of compromising existing access points is concerning, properly configured security measures can effectively detect and block these threats.
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<li><a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: &#8216;National Security Crisis We Cannot Ignore&#8217;</a></li>
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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.

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Russian State-Backed Hackers Target Ukrainian Military Devices Via SpaceX's Starlink, Microsoft Reveals

If there's one thing we can learn from Bill Gates and Warren Buffett, it's this: even billionaires bond over Oreos.
Lately, rumors have swelled about a<a href="https://www.benzinga.com/news/24/08/40304161/bill-gates-and-warren-buffett-have-been-friends-for-decades-but-rising-tensions-now-threaten-their-p"> rough patch</a> in their once rock-solid friendship. While the exact details are unclear, it's reported that Buffett, who has donated an astounding $43 billion to the Bill &amp; Melinda Gates Foundation since 2006, may have grown frustrated with the organization's bureaucracy. Reports also suggest he's planning to cease contributions after his death. Regardless, the heart of their relationship – built on decades of camaraderie and respect – deserves a closer look.
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In a 2016 Gates Notes blog post, Gates reflected on their 25-year friendship, which began in the summer of 1991. Gates was dragged, somewhat reluctantly, to meet Buffett at a family retreat. At the time, Gates wasn't impressed. "Look, he just <a href="https://www.benzinga.com/general/24/03/37780305/bill-gates-said-he-didnt-want-to-meet-warren-buffett-he-just-buys-and-sells-pieces-of-paper-but-his">buys and sells pieces of paper</a>. That's not real value-added," Gates told his mother. But what started as a meeting he wanted to skip turned into hours of fascinating conversation – and the beginning of an extraordinary friendship.
One moment that perfectly <a href="https://www.benzinga.com/news/24/11/42144671/warren-buffett-thinks-bill-gates-is-smart-as-hell-but-says-his-ex-wife-melinda-is-smarter-in-terms-of-seeing-the-whole-picture">encapsulates their bond</a>? The first time Buffett stayed at Gates' home and cracked open a package of Oreos – for breakfast. Gates recalled the scene with a mix of amusement and disbelief. "Our kids immediately demanded they have some too. He may set a poor example for young people, but it's a diet that somehow works for him."
See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest TODAY for just $0.26/share with a $1000 minimum.</a>
Buffett's unique eating habits are legendary: <a href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale">burgers, Coke and ice cream</a> make up most of his menu. It's like he found his favorite diner meal as a kid and decided to stick with it for life. Gates finds it all hilariously endearing, which is probably why their dinners together are always so memorable. "That's one reason it's so fun to go out to dinner with him," Gates wrote.
Their friendship has always been peppered with quirky moments. During a visit to Buffett's Omaha home, Gates and his wife Melinda discovered the dining room chairs were missing their cushions – Buffett hadn't noticed they'd been out for reupholstering for months. Then there's the fact that Buffett, despite being worth over $100 billion, personally drives to the airport to pick Gates up. No chauffeur, no fanfare – just Buffett in his car, ready with a story or joke.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
Gates says those small, human gestures make Buffett an extraordinary friend. "It's a small gesture, but it means the world to me. I'm always impatient for the plane doors to open because I know Warren will be waiting with a <a href="https://www.benzinga.com/personal-finance/24/11/42025535/warren-buffett-has-a-mcgold-card-granting-him-a-lifetime-of-free-food-thats-why-the-buffett-family-has-christmas-dinner-at-mcdonalds">new story or a joke.</a>"
Over the years, Buffett has shared plenty of wisdom with Gates – not just about business but life. "He's helped us do two things that are impossible to overdo in one lifetime: learn and laugh more," Gates wrote. Buffett even sends Gates articles he thinks he'll find interesting – through actual snail mail.
While recent reports hint at potential tension between the two, the essence of their relationship shines through in the stories Gates has shared. "Friendship is about being the kind of friend you wish you had yourself," Gates once wrote. Whether it's sharing wisdom, laughter or a package of Oreos, their bond reminds us that the best parts of life are often the simplest – and sometimes chocolate-coated.
Read Next:
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<li>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></li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
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Image via Wikimedia Commons/ Flickr

Bill Gates Recalls The Time Warren Buffett Slept Over And Ate Oreos For Breakfast – 'Poor Example For Young People' But It Works For Him

Aave and Chainlink were the biggest cryptocurrency gainers on Thursday following significant purchases from President-elect Donald Trump-backed project, World Liberty Financial.&nbsp;
What happened: AAVE topped the gainers list, leaping over 19% in the last 24 hours to its highest value since Sept. 2021. The coin's trading volume popped 146% to $2.38 billion, while its market valuation topped $5 billion.
AAVE is the native cryptocurrency of the renowned decentralized lending protocol, Aave, which has over $22 billion in total value locked, per <a href="https://defillama.com/protocol/aave">data </a>from DeFiLlama.
A noted cryptocurrency trader, Alex Clay, stated that AAVE was going "according to the plan."
"Now looking for some correction below the major supply zone and then breakout of the one," he added.
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
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<tr>
<td>Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>)</td>
<td>+19.24%</td>
<td>$361.60</td>
</tr>
<tr>
<td>Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>)</td>
<td>+17.26%</td>
<td>$28.41</td>
</tr>
</tbody>
</table>
</figure>
Similarly, LINK soared over 17%, also to a 3-year high, while its volume exploded by 222% over the last 24 hours. The cryptocurrency was within touching distance of bettering its all-time high market capitalization of $19.85 billion.
Michaël van de Poppe, a cryptocurrency expert and early supporter of LINK, referred to it as an &#8220;undervalued gem.&#8221;
"The all-time high at $50 will look very small in the following years," he predicted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> is such an undervalued gem. I&#39;ve said at $6 that it&#39;s a lifetime opportunity. They partnered with Emirates NBD, and Trump&#39;s World Liberty Fi is buying $1M in <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>. The all-time high at $50 will look very small in the following years. <a href="https://t.co/iHLPkN9hIY">pic.twitter.com/iHLPkN9hIY</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867288310164725816?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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LINK is the native cryptocurrency of Chainlink, a project that connects real-world data to blockchains.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">Trump-Backed World Liberty Financial Bags $10M In Ethereum: What&#8217;s Going On?</a>
Why It Matters: The upsurge in the two coins comes amid strong accumulation by decentralized finance project World Liberty Financial.
The Trump-backed project spent $2 million to buy 78,387 LINK tokens and $1.25 million to bag 4,043 AAVE tokens in the last 24 hours, as per on-chain data.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) continues to accumulate <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>! In the past 5 hours, this fund further bought 37,052 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> ($1M) and 685.4 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> ($247K). In total, they have spent $2M to buy 78,387 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> at an average price of $25.51, now up… <a href="https://t.co/9B5kXC1vIp">https://t.co/9B5kXC1vIp</a> <a href="https://t.co/0KbXqsxGMC">pic.twitter.com/0KbXqsxGMC</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1867384207825375635?ref_src=twsrc%5Etfw">December 13, 2024</a></blockquote>
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World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
While the project itself is a hard fork of Aave, the usage of LINK tokens implied steps to digitize real-world data and put it on blockchains.
Image via World Liberty Financial
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$LINK

Trump-Linked World Liberty Financial's Purchases Induce Searing Hot Rally In Aave And Chainlink

Wedbush Securities analyst Dan Ives predicts Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will ship more than 240 million iPhones in 2025, setting a new annual record as artificial intelligence features in the iPhone 16 spark a &#8220;multi-year supercycle.&#8221;
What Happened: In a post on X on Thursday, Ives emphasized the significance of AI integration in consumer devices, particularly highlighting Apple&#8217;s upcoming iPhone lineup. This projection comes as Apple&#8217;s stock trades near all-time highs, up 33.57% year-to-date at $247.96.
&#8220;The AI revolution is coming, not just to the enterprise, but to the consumer, with Cupertino,&#8221; Ives <a href="https://www.cnbc.com/video/2024/12/12/tech-will-be-in-a-bull-market-for-the-next-2-3-years-says-wedbush-securities-dan-ives.html">told</a> CNBC, predicting Apple will reach a $4 trillion market capitalization by early 2025. The tech giant currently holds a market value of $3.74 trillion.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe iPhone 16 has kicked off a multi-year supercycle for Apple as the AI Revolution comes to the consumer. We expect Apple will ship more than 240 million iPhones in 2025 breaking its annual record <a href="https://twitter.com/SquawkStreet?ref_src=twsrc%5Etfw">@SquawkStreet</a> &#x1f34f;&#x1f34e;&#x1f525;&#x1f3c6;&#x1f4f1;&#x1f4cd;&#x1f37f;&#x1f447;&#x1f402; <a href="https://t.co/lW3dXsdpu8">https://t.co/lW3dXsdpu8</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1867289088685912455?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/12/42476730/peter-thiels-founders-fund-leads-600m-crusoe-investment-betting-big-on-ai-infrastructure">Peter Thiel Says, &#8216;The Biggest Risk With AI Is That We Don&#8217;t Go Big Enough&#8217; As His Founders Fund Leads $600 Million Crusoe Investment</a>
Why It Matters: The bullish outlook extends beyond Apple to the broader technology sector. Ives forecasts the Nasdaq could reach 25,000 by late 2025 or early 2026, driven by accelerating AI adoption across industries.
&#8220;Every dollar spent on an NVIDIA chip has an eight-to-ten multiplier,&#8221; Ives said while highlighting the cascading effects on software companies like Palantir Technologies Inc. and Salesforce Inc.
Current analyst consensus, according to <a href="https://www.benzinga.com/quote/AAPL/analyst-ratings">data from Benzinga Pro</a>, shows strong support for Apple&#8217;s growth trajectory. Based on 31 analyst ratings, Apple has an average price target of $242.26, with Wedbush maintaining the highest target at $300. The three most recent analyst reports from Needham, Wedbush, and Morgan Stanley average $277.67, suggesting a 12.35% upside potential.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12215057/Screenshot-2024-12-13-at-8.18.57%E2%80%AFAM-1024x378.png" alt="" class="wp-image-690596" /></figure>
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

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Dan Ives Predicts Apple To Ship Record 240 Million iPhones In 2025, Sparking 'Multi-Year Supercycle' As AI Integration Drives Growth

Warren Buffett, CEO of Berkshire Hathaway Inc., has long been revered as one of the most successful investors in history. He currently has a net worth of $143 billion, according to the Bloomberg Billionaire Index, making him number 10 on the list.
The investing legend, who turned 94 in August, once shared that with &#8220;Berkshire we have an unusual number of people as shareholders who just look at Berkshire they look at as their savings account.&#8221;
&#8220;They put some money in 20 or 30 or 40 years ago, we retain it and reinvest for them, but we're their savings account,&#8221; he stated, adding, &#8220;And that&#8217;s the way I look at my own stock&#8221;
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<iframe loading="lazy" title="Berkshire Hathaway: Your Long Term Savings Account for Wealth #financialtips #investingsecrets #news" width="500" height="281" src="https://www.youtube.com/embed/4XswBrqHuMQ?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>
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See Also: <a href="https://www.benzinga.com/startups/24/12/42394596/warren-buffett-warns-parents-about-a-common-mistake-you-dont-want-them-asking-why-heres-what-he-means">Warren Buffett Warns Parents About A Common Mistake: &#8216;You Don&#8217;t Want Them Asking Why&#8217; – Here&#8217;s What He Means</a>
For beginners looking to build wealth like these seasoned Berkshire investors, here is what the Oracle of Omaha recommends they do:
Risk Lies In What You Don't Know
Buffett believes risk stems from ignorance. He advises beginners to invest only in opportunities <a href="https://www.benzinga.com/personal-finance/24/05/39088057/warren-buffett-says-he-knows-in-5-minutes-if-an-investment-is-worth-it">they fully understand</a>.
For years, Buffett avoided technology stocks because he didn't know how to value them. It wasn't until 2016 that he invested in Apple. "Never invest in a business you cannot understand," he said once.
When It Rains Gold, Be Ready With Washtubs
Buffett's approach to <a href="https://www.benzinga.com/news/24/05/38628868/warren-buffetts-frugal-lifestyle-hacks-saved-millions-here-are-5-tips-to-follow-suit-in-your-everyda">saving is both frugal</a> and strategic. Known for spending less than $3.17 on breakfast, he is known for saving cash during economic booms to invest aggressively during downturns.
Critics questioned his hoarding of cash during the early 2000s and 2008, but he used those reserves to buy undervalued companies during economic slumps.
&#8220;Every decade or so, dark clouds will fill the economic skies and they will briefly rain gold.&nbsp;When a downpour of that sort occurs, it is imperative that we rush outdoors carrying washtubs and not teaspoons,&#8221; he once said.
Choose Excellence Over Bargains
Buffett learned early in his career that a low price tag doesn't always mean a good deal. He has previously recommended buying high-quality businesses, even at a fair price, over mediocre ones at a discount.
"It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price," he advises.
Don't Gamble With Borrowed Money
The Oracle of Omaha is firmly against using borrowed money to buy stocks, as market volatility can wreak havoc on leveraged portfolios.
Even Berkshire Hathaway, a reliable stock, has suffered significant downturns once every decade. He warns that debt can cloud judgment during market swings, leading to poor decisions.
"It is insane to risk what you have and need in order to obtain what you don't need," Buffett says.
Think Decades, Not Days
Buffett has often underscored the immense power of compounding and the importance of patience in investing. He applies this mindset to the businesses he invests in, evaluating their potential over 20 to 30 years rather than short-term horizons.
He famously once stated, "Time is the friend of the wonderful company, the enemy of the mediocre."
Image via Flickr
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Warren Buffett Said An Unusual Amount Of People Look At Berkshire Stock As A Savings Account, Here Is What The Oracle Of Omaha Recommends Investing Novices Do

In a move that mirrors President-elect Donald Trump&#8217;s cryptocurrency vision, a bill proposing a&nbsp;strategic Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve was&nbsp;put forth in the state of Texas on Thursday.
What Happened: Texas Republican Rep. Giovanni Capriglione introduced the bill, also called the Texas Strategic Bitcoin Reserve Act, which proposed the establishment of a special fund in the state treasury to solely hold Bitcoin as a financial asset.
The bill outlined that all Bitcoins will be stored for a minimum period of five years after which they can be sold, appropriated, or converted to other assets on the directions of a comptroller.
&#8220;The legislature recognizes Bitcoin as a valuable digital asset with strategic potential for enhancing the state's fiscal resilience,&#8221; a section in the proposed legislation read.
The south-central state of Texas is known as the <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">Bitcoin mining hub of the U.S.</a> and a favored location for mining giants like&nbsp;Riot Platforms and MARA Holdings.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42469414/xrp-poised-for-brief-correction-but-heres-why-it-could-go-to-4">XRP Poised For &#8216;Brief Correction,&#8217; But Here&#8217;s Why It Could Go To $4</a>
Why It Matters: This move aligns with the concept of a strategic Bitcoin reserve gaining steam at the federal level. President-elect Donald Trump <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42434184/a-tech-renaissance-could-offer-enticing-opportunities-in-direxions-qqqu-qqqd-etfs">said</a>, &#8220;We&#8217;re going to do something great with cryptocurrency,&#8221; when queried about the potential of such a fund earlier today.
His Republican colleague Senator&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) has already&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas" target="_blank" rel="noreferrer noopener">introduced a bill</a> at the federal level, that calls for the purchase of&nbsp;one million Bitcoin&nbsp;over five years by the Treasury Department and holding it for at least 20 years.
This development follows&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">Pennsylvania&#8217;s move</a>&nbsp;last month to consider its state-held cryptocurrency reserve. The Pennsylvania Bitcoin Strategic Reserve Act, the first bill of its kind, would authorize the state&#8217;s treasury to invest up to 10% of its $7 billion reserves into Bitcoin.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $99,483.75, down 1.37% 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>.
Photo Courtesy: Lucky-photographer On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ondo Finance, Ethereum&#8217;s BlackRock-Backed Tokenization Crypto, Could </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42470327/ondo-finance-ethereums-blackrock-backed-tokenization-crypto-could-reach-5-analyst-says">Reach $5, Analyst Says</a></li>
</ul>

Texas Mirrors Trump's Vision, Introduces Bill To Set Up Bitcoin Reserve With 5-Year Holding Period

Crusoe, a vertically integrated <a href="Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.">artificial intelligence infrastructure provider</a>, secured $600 million in Series D funding led by Peter Thiel&#8216;s Founders Fund, valuing the company at $2.8 billion. The round included participation from Fidelity, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and other investors, the company announced on Thursday.
What Happened: The investment marks Founders Fund&#8217;s latest significant technology bet, following its recent $200 million cryptocurrency investment split between Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39936042/peter-thiel-founders-fund-lead-11m-investment-in-pudgy-penguins-parent-company-excited-to-">earlier this year</a>.
&#8220;The biggest risk with AI is that we don&#8217;t go big enough. Crusoe is here to liberate us from the island of limited ambition,&#8221; Thiel said in a statement.
Crusoe, founded in 2018, differentiates itself by using waste <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616040/peter-thiels-founders-fund-leads-500m-fundraise-in-waste-gas-powered-ai-cloud-start-up">natural gas from oilfields</a> to power its data centers, addressing both environmental concerns and the growing demand for AI computing resources. 
See Also: <a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: &#8216;National Security Crisis We Cannot Ignore&#8217;</a>
Why It Matters: The company recently announced plans for a new data center in Abilene, Texas, projected to add $1 billion to the local economy over 20 years and create more than 800 jobs. The facility will feature over 1.2 gigawatts of capacity, making it one of the world&#8217;s largest high-performance computing clusters.
Crusoe CEO Chase Lochmiller said, &#8220;To reduce complexity, accelerate time-to-value, and support the most demanding AI solutions, customers need a vertically integrated approach.&#8221;
The funding announcement coincides with the general availability launch of Crusoe Cloud, the company&#8217;s high-performance cloud platform designed for AI and machine learning workloads. Customer count grew more than sevenfold in the past year, according to company data.
Founders Fund&#8217;s portfolio includes both past and current investments in notable companies such as SpaceX, Palantir, Stripe, Neuralink, OpenAI, The Boring Company, and Polymarket.
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Image via Wikimedia Commons
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Startups

NVDA

Peter Thiel Says, 'The Biggest Risk With AI Is That We Don't Go Big Enough' As His Founders Fund Leads $600 Million Crusoe Investment

The U.S. stock market experienced a downturn today, with the Nasdaq Composite declining over 130 points. The Dow Jones Industrial Average saw a dip of 0.5%, closing at 43,914.12, while the S&amp;P 500 also decreased by 0.5% to 6,051.25. Initial <a href="https://www.benzinga.com/24/12/42464623/nasdaq-down-50-points-us-initial-jobless-claims-rise">jobless claims in the U.S.</a> rose by 17,000, surpassing market expectations.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Costco Wholesale Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>)
Costco&#8217;s stock closed down 0.63% at $988.39, reaching an intraday high of $1002.47 and a low of $987.21. The stock&#8217;s 52-week range is $1007.80 to $631. The company reported strong&nbsp;<a href="https://www.benzinga.com/news/earnings/24/12/42473288/costco-q1-earnings-revenue-beat-eps-beat-comps-up-52-membership-fee-growth-and-more">first-quarter earnings</a>, with revenue of $62.15 billion, surpassing the consensus estimate. Adjusted earnings per share came in at $3.82, exceeding analyst expectations.
Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)
Broadcom shares fell 1.39% to close at $180.66, with a high of $182 and a low of $175.99. Its 52-week range is $186.42 to $102.46. The company posted&nbsp;<a href="https://www.benzinga.com/news/earnings/24/12/42472970/broadcom-reports-mixed-q4-results-eps-beat-revenues-miss-q1-guidance-in-line-with-estimates">mixed fourth-quarter results</a>, with earnings per share beating estimates but revenue slightly missing expectations. The company reported a non-GAAP net income of $6.965 billion.
Celsius Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)
Celsius Holdings saw a significant rise of 7.49%, closing at $31.99, with an intraday high of $32.12 and a low of $30.12. Its 52-week range is $99.62 to $25.23. A JP Morgan analyst initiated coverage with an Overweight rating, highlighting its <a href="https://www.benzinga.com/24/12/42467253/celsius-gets-overweight-rating-from-jp-morgan-with-spotlight-on-consumer-trends-market-share-potential-and-unique-brand-edge">strong position</a> in the energy drink market and potential for growth.
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta&#8217;s stock decreased by 0.30%, closing at $630.79, with a high of $636.66 and a low of $627.21. The 52-week range is $638.40 to $331.22. CEO Mark Zuckerberg sold <a href="https://www.benzinga.com/24/12/42454694/meta-ceo-mark-zuckerberg-sells-88m-in-shares-amid-stocks-2024-surge-of-82">$88 million worth of shares</a> recently, amid the company&#8217;s impressive 82% surge in 2024.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped 1.57% to $418.10, reaching a high of $429.30 and a low of $415. The 52-week range is $429.30 to $138.80. An analyst from Wedbush Securities projected Tesla could reach a <a href="https://www.benzinga.com/24/12/42455654/wedbush-securities-sees-tesla-touching-2-trillion-market-cap-by-2025-end-apple-microsoft-nvidia-to-join-4-trillion-market-cap-club-next-year-says-analyst">$2 trillion market cap by 2025</a>, driven by its autonomous and Cybercab initiatives.
Image via Shutterstock
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>

AVGO

CELH

COST

TSLA

Costco, Broadcom, Celsius Holdings, Meta Platforms, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Thursday, Cathie Wood-led Ark Invest made significant trading decisions involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>).
The Tesla Trade
Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) reduced their holdings in Tesla Inc. by selling 34,823 and 1,777 shares, respectively. This move follows a period where Tesla&#8217;s stock has been on a remarkable upswing, reaching new highs. The shares were sold at a closing price of $418.10, totaling approximately $15.3 million in value. 
The decision to trim Tesla holdings comes amid a broader market rally, with analysts raising price targets for the electric vehicle leader. Notably, Thursday marked the <a href="https://www.benzinga.com/24/12/42452421/cathie-woods-ark-invest-trims-tesla-exposure-amid-searing-rally-sells-21-8m-worth-of-stock-bets-on-this-ai-medical-company">second consecutive day</a> when Ark sold Tesla shares. On Wednesday the firm had sold $21.8 million worth of stock.
As reported, Tesla&#8217;s stock has been buoyed by favorable market conditions, including potential interest rate cuts by the Federal Reserve. This strategic reduction in Tesla shares aligns with Ark Invest&#8217;s approach to capitalize on high valuations and reallocate capital to other promising opportunities.
The Archer Aviation Trade
Ark Invest significantly increased its stake in Archer Aviation Inc. through ARKK, ARKQ, and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>). The funds collectively acquired 5,080,595 shares. With Archer&#8217;s shares closing at $7.17, the total investment amounts to approximately $36.5 million.
This substantial investment in Archer Aviation comes on the heels of the company&#8217;s announcement of a <a href="https://www.benzinga.com/24/12/42464770/whats-going-on-with-archer-aviation-stock-today">new partnership</a> with Anduril Industries to develop a hybrid VTOL aircraft for defense applications. Additionally, Archer has raised $430 million in equity, bolstering its financial position for future growth.
Recently, Archer Aviation also partnered with key UAE entities to <a href="https://www.benzinga.com/news/global/24/12/42365072/why-archer-aviation-stock-is-gaining-today">pioneer eVTOL air taxis</a> in Abu Dhabi, targeting a 2026 launch.
Other Key Trades:
<ul>
<li>Purchased Tempus AI Inc. shares via ARK Innovation ETF and ARK Genomic Revolution ETF .</li>
<li>Acquired Symbotic Inc. shares through ARK Autonomous Technology &amp; Robotics ETF .</li>
<li>Sold Veeva Systems Inc. shares via ARK Genomic Revolution ETF.</li>
<li>ARK Space Exploration &amp; Innovation ETF sold Rocket Lab USA Inc. shares.</li>
</ul>
Image via Benzinga YouTube Unsplash
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<li><a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report</a></li>
</ul>
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>

ETFs

ACHR

ARKK

ARKQ

ARKX

Cathie Wood's Ark Invest Dumps Another $15.3 Million Tesla Shares, Pivots To This Flying Taxi Startup

President-elect Donald Trump acknowledged market volatility risks while discussing economic plans with CNBC&#8217;s Jim Cramer at the New York Stock Exchange on Thursday while <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42466189/trump-talks-stocks-bitcoin-ai-economy-with-jim-cramer-youre-going-to-see-some-very-good-days-ahead">suggesting future cryptocurrency initiatives</a>.
What Happened: &#8220;A dip can always happen,&#8221; Trump told Cramer during a trading floor <a href="https://www.youtube.com/watch?v=_8d-2QVdtag">interview</a>, avoiding specific market predictions. He emphasized his administration&#8217;s pre-pandemic economic performance and outlined broad plans for future growth.
The conversation touched on Trump&#8217;s relationships with major tech leaders, including Meta Platforms Inc. CEO Mark Zuckerberg and Tesla Inc. CEO Elon Musk. Trump said Amazon.com Inc. founder Jeff Bezos would be meeting with him next week.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42471357/egg-hyperinflation-could-spike-grocery-prices-why-cal-maine-vital-farms-are-soaring">Egg Hyperinflation Could Spike Grocery Prices: Why Cal-Maine, Vital Farms Are Soaring</a>
Why It Matters: Trump emphasized his vision for workforce development, calling for &#8220;fantastic jobs, great salaries, and a thriving workforce,&#8221; while referencing his administration&#8217;s pre-COVID economic performance.
&#8220;We&#8217;re gonna do something great with crypto,&#8221; Trump stated, marking a shift from his previously skeptical stance on digital currencies. The former president highlighted his evolution from Washington outsider to having extensive connections, saying &#8220;I know people—so many people that they&#8217;re practically coming out of my ears!&#8221;
The interview follows Trump&#8217;s ceremonial ringing of the NYSE opening bell.
Read Next: 
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</ul>
Image courtesy of the NYSE
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Gives A Nod To Market Volatility, Tells Cramer 'A Dip Can Always Happen'

Bitcoin gave up early gains, but Ethereum was on the move on Thursday as fresh inflation data slashed expectations of interest rate cuts.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.59%</td>
<td>$100,315.71</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>+1.89%</td>
<td>$3,900.97</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>-0.80%</td>
<td>$0.4088</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin soared to $102,250 in early trading after President-elect Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42466189/trump-talks-stocks-bitcoin-ai-economy-with-jim-cramer-youre-going-to-see-some-very-good-days-ahead">shared positive thoughts</a> on the cryptocurrency after ringing the New York Stock Exchange opening bell.&nbsp;
However, profit-takers took control as the digital asset reversed direction, plunging below $99,000 in the next two hours.
Ethereum maintained a healthier trajectory, rising to an intraday high of $3,986 before a pullback to $3,837.
Total cryptocurrency liquidations exceeded $318 million in the last 24 hours, with nearly $200 million in upside bets getting erased.
Bitcoin's Open Interest rose by 1.36% in the last 24 hours. A rise in OI, coinciding with a price drop, indicated an increase in short positions.
The Long/Short Ratio lent credence to this narrative, as downside bets surpassed bullish bets over the last 24 hours.
Market sentiment cooled from 83 to 76, as per the Cryptocurrency Fear &amp; Greed Index, although the "Extreme Greed" mood remained dominant.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Aave (AAVE)</td>
<td>+21.61%</td>
<td>$367.57</td>
</tr>
<tr>
<td>Chainlink (LINK)</td>
<td>+20.96%</td>
<td>$29.13</td>
</tr>
<tr>
<td>Lido DAO (LDO)</td>
<td>+18.04%</td>
<td>$2.25</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.6 trillion, following a marginal contraction of 0.24% over the last 24 hours.
Stocks tumbled on Thursday. The Dow Jones Industrial Average slid 234.44 points, or 0.53%, to close at 43,914.12. The S&amp;P 500 fell 0.54%, ending at 6,051.25, while the tech-focused Nasdaq Composite came down 0.66% from its record close Wednesday, closing the session at 19,902.84.
<a href="https://www.benzinga.com/news/treasuries/24/12/42460477/producer-inflation-rises-more-than-expected-to-3-in-november-cast-shadow-on-further-disinflation-progress">Hotter-than-expected wholesale inflation data</a> preceded the decline, as the producer price index rose 0.4% in November, higher than the forecasted figure of 0.2%.
This follows the consumer price index data released a day earlier that <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">matched analyst's expectations</a>
Traders priced in a 96.4% chance of a 25 basis point rate cut in next week's Federal Reserve, down from 97% a day before, per <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a> data.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Chris Kline, COO &amp; Co-Founder at BitcoinIRA, said in a note to Benzinga, "Price volatility continues to be a significant factor in market discovery, with the Consumer Price Index not decelerating as rapidly as anticipated, which is negatively impacting dollar strength."
"Additionally, Microstrategy&#8217;s strategic move to the Nasdaq 100 is expected to generate substantial investment inflows as well as the Trump Administration's bullish sentiment on crypto and the appointment of pro-crypto cabinet members," Kline added.&nbsp;
Widely followed cryptocurrency analyst and trader Michaël van de Poppe noted that altcoin market capitalization has bottomed out.
"There is a bullish divergence and a strong move upwards, which suggests that we&#8217;re likely just making a higher low here. Onwards and upwards," he projected.
<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">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we&#39;re likely just making a higher low here. Onwards and upwards. <a href="https://t.co/bxu5Mk4XnY">pic.twitter.com/bxu5Mk4XnY</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867309197840527860?ref_src=twsrc%5Etfw">December 12, 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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On Thursday, Rep. Jeff Van Drew (R-N.J.) called out the Pentagon for allegedly hiding information about unidentified drones spotted near military locations in New Jersey.
What Happened: The representative said, &#8220;We aren't being told the truth.&#8221; He went on to say in a Fox News interview that &#8220;they are dealing with the American public like we're stupid.&#8221;
Van Drew suggested that these car-sized drones might be linked to an Iranian &#8220;mothership,&#8221; <a href="https://www.politico.com/news/2024/12/12/new-jersey-drones-pentagon-00193985">reported</a> Politico. The Pentagon, however, denied these claims, stating there was no Iranian ship off the U.S. coast launching drones. Sabrina Singh, the Defense Department&#8217;s spokesperson, did not provide an explanation for the drone activity.
Van Drew later toned down his claims, stating there was a &#8220;real possibility&#8221; the drones could be Iranian or Chinese. He referred to sources with security clearances as &#8220;whistleblowers&#8221;, but did not provide any evidence to support his claims. 
In a post on X, he called the drone sightings &#8220;a national security crisis we cannot ignore.&#8221; Van Drew shared a clip of the Fox News interview in which he can be heard urging that the drones be shot down. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What we've uncovered is alarming—drones flying in from the direction of the ocean, possibly linked to a missing Iranian mothership. This is a national security crisis we cannot ignore. Bring them down now. <a href="https://t.co/YicWkcoJR1">pic.twitter.com/YicWkcoJR1</a>
&mdash; Congressman Jeff Van Drew (@Congressman_JVD) <a href="https://twitter.com/Congressman_JVD/status/1866906922210955465?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gov. Phil Murphy (D) of New Jersey rejected Van Drew&#8217;s claims, advocating for a fact-based approach to understanding the situation, rather than spreading fear, according to Politico.
The drone sightings, described as up to &#8220;six feet in diameter&#8221; and undetectable by radio frequency monitoring, follow similar reports over U.S. military installations in Virginia and the United Kingdom, raising national security concerns.
See Also: <a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Announces Plans To Have Dinner With Amazon Founder Jeff Bezos As Billionaire Rivals Turn Unexpected</a>
Why It Matters: Sen. Richard Blumenthal (D-Conn.) also reacted to the mysterious drones. &#8220;We should be doing some very urgent intelligence analysis and take them out of the skies, especially if they're flying over airports or military bases,&#8221; said the Connecticut senator, according to a <a href="https://apnews.com/article/fbi-drones-new-jersey-8bfe84cf2678400181292b75f9193395">report</a> by the Associated Press. 
While some sightings may be misidentified aircraft, investigations by federal and state agencies continue, with no reported evidence of national security threats or foreign involvement confirmed.
The drone sightings come amidst a shift in military aviation. Elon Musk has highlighted that drones offer <a href="https://www.benzinga.com/general/24/06/39160140/elon-musk-on-future-warfare-putting-humans-in-aircraft-just-slows-them-down">significant advantages</a> over manned aircraft in terms of speed, safety, and technological capabilities, making them the preferred choice in critical situations.
Musk, Donald Trump&#8217;s pick to co-lead the Department of Government Efficiency, criticized Lockheed Martin&#8217;s F-35 stealth fighter program, advocating for the use of drones over manned jets.
Image via Pixabay
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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>

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Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: 'National Security Crisis We Cannot Ignore'

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Buying $100 In LLY: If an investor had bought $100 of LLY stock 10 years ago, it would be worth $1,129.58 today based on a price of $782.50 for LLY at the time of writing.
<h3>Eli Lilly's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734047115_0.png" alt="comp_fig" />
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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