John Lennon’s son minted Beatles NFT’s, Barstool Sports Founder Dave Portnoy bought the recent dip in Bitcoin and economist Paul Krugman drew parallels to cryptocurrency and the 2008 financial crisis. Watch Ross Mac of Maconomics break down the latest cryptocurrency news on TheStreet’s ‘Crypto Minute’ on Monday, January 31.
Transcript:
Looks like the Beatles are going digital with NFTs…while one economist is comparing the crypto market to the 2008 real estate crisis.
I’m Ross Mac and these are the biggest stories in cryptocurrency on Monday, January 31.
John Lennon’s eldest son, Julian, is going to sell iconic pieces of memorabilia from his dad and the Beatles as NFTs. The items include the cape from Help! and Paul McCartney’s handwritten notes from writing ‘Hey Jude,’ and each item has an audio narration from Juian himself. The ‘Hey Jude’ notes are expected to fetch a high price, with experts thinking they could go for $60,000.
Dave Portnoy, the founder of Barstool Sports, spent over $1 million last week, buying 29 Bitcoin. It now looks like he’s officially jumping back on the Bitcoin bandwagon, as he had previously sold his bitcoin back in the spring of 2021. If Portnoy’s buying the dip, are you?
Paul Krugman said that crypto has some “disturbing” parallels with the subprime mortage meltdown. He penned a New York Times op-ed to discuss the financial crisis of 2008 in comparison to crypto today. What’s his main argument? Crypto investors are being sold speculative financial products without understanding the risks. Krugman has been a bitcoin bear, and even compared crypto to a ponzi scheme in the past. Very interesting…what do you think…does he have a point or is he just mad he’s late to the party?
I’m Ross Mac and that was the Crypto Minute on TheStreet.
TheStreet’s Crypto Minute is brought to you by Blockchain.com.
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