Latest news with #StandardChartered
Globe and Mail
37 minutes ago
- Business
- Globe and Mail
2 Cryptocurrencies to Buy Now Before They Soar 140% and 580%, According to a Wall Street Analyst
XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) advanced 565% and 410%, respectively, in the last three years. But certain Wall Street analysts expect the cryptocurrencies to climb even higher in the next few years: Geoffrey Kendrick at Standard Chartered says XRP will top Ethereum by 2028. At current prices, XRP must climb 140% to $5.10 to surpass Ethereum's market value of $302 billion. David Puell at Ark Invest expects Bitcoin to hit $710,000 by 2030. That implies about 580% upside from its current price of $104,000. Here's what investors should know about XRP and Bitcoin. XRP: 140% implied upside The investment thesis for XRP centers on its ability to facilitate fast and cheap cross-border transactions. It is the native digital asset on the XRP Ledger, a blockchain created by fintech company Ripple to disrupt SWIFT (Society for Worldwide Interbank Financial Telecommunications), the system banks generally use to send money internationally. XRP transactions settle in seconds and cost a fraction of a cent, but SWIFT transactions may not settle for days and often incur larger fees. Yet, very few financial institutions have adopted XRP as a bridge currency to facilitate cross-border payments. I doubt that will change in the future, because cryptocurrency prices are volatile. Why send money as XRP when its price could plunge in a very short period? However, fast and inexpensive transactions mean that the XRP Ledger is also ideal for tokenized assets, a market that will hit $19 trillion by 2030, according to Ripple. Tokenized assets are real-world assets represented as digital tokens on a blockchain. For instance, Guggenheim Treasury Service recently tapped the XRP Ledger to issue digital commercial paper, a fixed-income security. Greater adoption of the XRP Ledger increases demand for the native cryptocurrency, XRP, which could make the token more valuable over time. However, I see a bigger catalyst in the pending approval of several spot XRP ETFs. Bitcoin has gained 125% since the approval of spot Bitcoin ETFs in 2024, and XRP could see similar price appreciation. Bitcoin: 580% implied upside The investment thesis for Bitcoin centers on its status as digital gold. Investors see the cryptocurrency as a hedge against inflation and the devaluation of fiat currencies like the U.S. dollar. In fact, the U.S. Dollar Index has declined 10% year to date, but Bitcoin has advanced 13%. That trend is likely to continue in the years ahead because, unlike fiat currencies, Bitcoin supply is limited. Importantly, institutional investors are increasingly comfortable owning Bitcoin. Forms 13F filed for the first quarter indicate that the number of large asset managers (with $100+ million in securities) with positions in the two most popular spot Bitcoin ETFs -- the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund -- more than tripled in the past year. Meanwhile, many companies are adding Bitcoin to their balance sheets. Strategy (formerly MicroStrategy) has essentially turned itself into a Bitcoin investment vehicle. It owns 582,000 BTC, purchased at an average price of $70,086, and it plans to invest another $56 billion through 2027. Other companies are following the same playbook, including Mara and Semler Scientific. Here's the bottom line: XRP and Bitcoin could be worth much more in the future due to the catalysts outlined above, But neither is a wise investment for anyone uncomfortable with extreme volatility, and investors should never anchor to price targets set by Wall Street. Finally, between the two, I would choose Bitcoin in a heartbeat because it has the distinct advantage of being the largest, most liquid, and best known cryptocurrency. Additionally, spot Bitcoin ETFs make it easy to get Bitcoin exposure. The same cannot be said (yet) about XRP. Should you invest $1,000 in XRP right now? Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Yahoo
21 hours ago
- Business
- Yahoo
1 Top Cryptocurrency to Buy Before It Doubles in the Second Half of 2025, According to Multiple Analysts
Crypto markets climbed higher late last year, but have barely budged past January highs. This cryptocurrency has several macroeconomic factors working in its favor. One big trend could push its price significantly higher by the end of 2025. 10 stocks we like better than Bitcoin › The entire cryptocurrency market climbed 66% from just before Donald Trump's election win in November to mid-December. Since then, however, many of the most popular cryptocurrencies have failed to continue moving higher. Bitcoin (CRYPTO: BTC) has been one of the stronger performers. It set an all-time high in January, and it recently climbed slightly above that level in May. As of June 18, Bitcoin trades for about $105,000. But multiple analysts see the value of Bitcoin nearly doubling by the end of the year, reaching $200,000. Here's why analysts are bullish on the leading cryptocurrency. Over the last couple of months, several analysts have reaffirmed expectations for Bitcoin to climb to $200,000 by the end of the year. Bernstein called its $200,000 year-end estimate for Bitcoin "high-conviction and conservative." Standard Chartered analysts called for a series of sharp increases during the next few months that could push the price to $200,000 by year-end. Bitwise analysts think the fair value of Bitcoin right now is $230,000 but only expect it to reach $200,000 by the end of the year. 21Shares strategists also see the cryptocurrency hitting the magic $200,000 mark by year-end as well. There are several factors supporting the continued increase in Bitcoin's value, according to the analysts. Bitwise points to the rising U.S. fiscal debt, exacerbated by the new tax bill that passed through the House recently. Analysts argue that Bitcoin presents a type of insurance against sovereign debt defaults since it's a scarce and decentralized asset. Standard Chartered is seeing data that shows the market agrees with that sentiment. It said exchange-traded fund (ETF) flows are shifting from gold into Bitcoin, suggesting it's more of a safe asset. It also says Bitcoin wallets with more than 1,000 Bitcoins resumed accumulating the asset during recent dips. 21Shares saw the recent Consumer Price Index numbers as a bullish sign for Bitcoin because cooler inflation could give the Federal Reserve the green light to reduce interest rates. That could push wider adoption of riskier assets. But there's one trend that could drive Bitcoin's price higher well beyond 2025, and it appears to be accelerating. Bitcoin's price is based almost entirely on supply and demand. There's a fixed supply of Bitcoin -- only 21 million will ever exist, of which about 19.9 million are already in circulation. So, strong growth in demand will send its value up over time. To that end, we're seeing signs of more growth in demand. ETF inflows have reaccelerated after a pullback in March and April. On top of that, there's growing interest in Bitcoin treasury companies that aim to follow in the footsteps of Strategy, formerly known as MicroStrategy, whose main business is buying and holding Bitcoin. We saw a new pure play on the Strategy Bitcoin treasury idea, Twenty One, agreeing to go public in late April. Trump Media raised $2.5 billion to establish a Bitcoin treasury at the end of May. Several other businesses have taken to the idea of selling shares in their company to buy Bitcoin, injecting billions of dollars of demand and a continuous flow of more demand in the future. So, not only is there more institutional interest in buying Bitcoin, but there's growing corporate interest as well. The current political environment is making it easier for both to confidently hold Bitcoin on their books, so the trend should continue for a long time. Most investors can easily invest in Bitcoin through their regular brokerage account by purchasing a Bitcoin ETF. The expense ratios on the best Bitcoin ETFs are relatively low and worth paying for the simplicity and security they provide. If you'd rather buy Bitcoin directly, opening an account on a crypto exchange isn't difficult, but beware of the hidden costs of crypto transactions, including slippage and take rates from exchanges. You'll also need to remain mindful of security concerns regarding custody of your Bitcoin. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Adam Levy has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. 1 Top Cryptocurrency to Buy Before It Doubles in the Second Half of 2025, According to Multiple Analysts was originally published by The Motley Fool
Zawya
21 hours ago
- Business
- Zawya
FTSE 100 edges up as US holds off decision on Middle East involvement
London stocks edged up on Friday with broad-based gains as the United States deferred its decision on whether to get involved in the Middle East conflict to the next two weeks, aiding market sentiment. The blue-chip FTSE 100 rose 0.5% by 0947 GMT, but remained on track to end its five-week winning streak. The Bank of England opted to keep rates steady on Thursday, as widely expected, but warned about risks from a weaker labour market and higher energy prices amid the ongoing Iran-Israel war. As the air war between the two nations entered its second week, Europe tried to draw Iran to the negotiating table. Meanwhile, the White House said that decisions on potential U.S. involvement are expected within two weeks. "While the immediate prospect of a US intervention in Iran may have diminished, the fact this is reportedly a two-week hiatus means it will remain a live issue for the markets going into next week," said Dan Coatsworth, investment analyst at AJ Bell "A meeting of European ministers with their Iranian counterparts to try and formulate a deal today could be crucial." Banks and financial services gained 1.24%, with Standard Chartered and Barclays rising 3.4% and 2%, respectively. Personal goods were up 1.7%, while travel stocks added 1.4%. On the flip side, energy stocks gave up some of their recent gains, down 0.5%, with oil prices easing from this week's highs. On the economic data front, UK retail sales saw their sharpest decline since December 2023 while consumer confidence rose to its highest level of 2025. Across the Atlantic, the U.S. Federal Reserve said on Wednesday that two rate cuts were on the table for the year. The mid cap index was up 0.34%, but was set to post its first weekly loss in 11 weeks, breaking its longest winning streak in 35 years. In individual stocks, high-end homebuilder Berkeley dragged down the index, falling 7.6% after its chairman stepped down.
Reuters
a day ago
- Business
- Reuters
FTSE 100 edges up as US holds off decision on Middle East involvement
June 20 (Reuters) - London stocks edged up on Friday with broad-based gains as the United States deferred its decision on whether to get involved in the Middle East conflict to the next two weeks, aiding market sentiment. The blue-chip FTSE 100 (.FTSE), opens new tab rose 0.5% by 0947 GMT, but remained on track to end its five-week winning streak. The Bank of England opted to keep rates steady on Thursday, as widely expected, but warned about risks from a weaker labour market and higher energy prices amid the ongoing Iran-Israel war. As the air war between the two nations entered its second week, Europe tried to draw Iran to the negotiating table. Meanwhile, the White House said that decisions on potential U.S. involvement are expected within two weeks. "While the immediate prospect of a US intervention in Iran may have diminished, the fact this is reportedly a two-week hiatus means it will remain a live issue for the markets going into next week," said Dan Coatsworth, investment analyst at AJ Bell "A meeting of European ministers with their Iranian counterparts to try and formulate a deal today could be crucial." Banks and financial services (.FTNMX301010), opens new tab gained 1.24%, with Standard Chartered (STAN.L), opens new tab and Barclays (BARC.L), opens new tab rising 3.4% and 2%, respectively. Personal goods (.FTNMX402040), opens new tab were up 1.7%, while travel (.FTNMX405010), opens new tab stocks added 1.4%. On the flip side, energy stocks (.FTNMX601010), opens new tab gave up some of their recent gains, down 0.5%, with oil prices easing from this week's highs. On the economic data front, UK retail sales saw their sharpest decline since December 2023 while consumer confidence rose to its highest level of 2025. Across the Atlantic, the U.S. Federal Reserve said on Wednesday that two rate cuts were on the table for the year. The mid cap index (.FTMC), opens new tab was up 0.34%, but was set to post its first weekly loss in 11 weeks, breaking its longest winning streak in 35 years. In individual stocks, high-end homebuilder Berkeley (BKGH.L), opens new tab dragged down the index, falling 7.6% after its chairman stepped down.
Independent Singapore
a day ago
- Business
- Independent Singapore
After Standard Chartered offshores jobs to India, Reddit user asks what S'poreans are doing to protect themselves
SINGAPORE: Reports that Standard Chartered laid off 80 staff members in Singapore to offshore these roles to India appear to have sent a chill among some employees. One Reddit user immediately took to the platform to ask how others are protecting themselves. The company offshored roles in Singapore, mainly from its technology and operations teams, according to eFinancialCareers. However, this may just be the beginning of a broader restructuring, sources at the bank have said. In a post on r/askSingapore, u/piggyb0nk wrote, 'What are you doing to protect yourself from offshoring?' They explained that they work with several tech teams, and the majority of the roles are contracted out to companies based in India, Vietnam, and the Philippines. They described the workers they've met from these countries as 'REALLY GOOD' – experienced, able to speak 'decent' English, and known to perform well. The post author added that they've discovered that these workers are paid only 'a fraction' of what their Singapore counterparts make. 'The company actually has no logical business keeping me on – most of the local team here could be eliminated and contractors hired offshore,' the post author wrote, adding, 'I've found that upskilling isn't really helpful because there will be many people equally or better skilled who can demand less – so I have trying to work toward a career path that takes me up into management as quickly as possible to achieve some level of stability.' See also We look back to the 10 most-inspiring features from the ecosystem They also asked what others are doing to protect themselves from offshoring. 'I work in IT with physical sites, part of my hiring was to have an engineer near the sites in case something happens. This helps to justify my hiring,' wrote one, adding, 'I also volunteer to travel to any nearby countries if required. (My career has sent me to Japan, Indo, msia, India, etc). This offers our passport visa-free advantages to our employers. 'In my case, I try not to compete with 3rd world salaries but with 1st world salaries. We can earn the same or slightly less than Americans or Europeans and still have a higher purchasing power due to our lower taxes.' 'Be a revenue driver or a critical component of revenue-driving teams. Nobody's doing sales out of India. The corporate mindset now is front-end based in Singapore (for that income tax) and backend based in a satellite office. 'Find ways to value-add. If you're an expensive/senior role at a cost centre unit, sorry but your time is ticking. Be visible, find ways to value add. Your roles are the juiciest when a bunch of old white men sit in a boardroom and go through lists of who to retrench because soft benefits like efficiency don't show up in KPI data all the way up,' contributed another. See also Young Singaporeans snap expensive items before GST kicks in Some advised that taking jobs in healthcare, education, security, or the civil service are likely to be safer from offshoring, and others said that the post author could move to a country where the cost of living is cheaper. Another chimed in that they're accumulating assets in case they are let go. 'It's easier and much more productive to make ourselves less dependent on the job for a living. That way, if offshoring really happens to the job, it will suck but not matter as much. Also, at some point in time, like it or not, we have to retire.' Interestingly, one commenter did not answer the question but pointed to high rental rates and how these affect salaries as a key part of the problem. 'The issue is the sky-high rent and rent-seeking behavior. High wages in SG, but most of the wage goes towards landlords (whether directly in the form of mortgage or rental payments or indirectly in the form of higher prices, etc). This perpetuates a wage-price spiral (high prices so workers demand higher salaries, which then lead to high prices), which prices us out from competitors without any real benefit to Singaporeans who are spending locally. It's great for people working SGD and spending elsewhere, eg, Malaysians /foreigners who send money back home,' they wrote. /TISG See also Why brands fail on e-commerce and what they can do about it Read also: 80 job cuts at Standard Chartered Singapore 'likely just the start' amid push to return US$1.5B to shareholders
