Discussion on Grayscale Bitcoin Trust's path to a Bitcoin ETF and crypto adoption, the entry of Vinfast into the market and concerns about stock manipulation, the settlement of VINFAST and 3M and its impact, and a celebration of Warren Buffett's birthday and his influence on the business world.
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Quick takeaways
A potential path forward for a Bitcoin ETF exists despite the SEC's current restrictions and uncertain position on crypto.
Investors should exercise caution when considering investing in Vinfast, as its valuation does not align with its actual sales and there is a risk of manipulation given the low number of shares in the market.
Deep dives
Grayscale Bitcoin Trust's Path to Becoming an ETF
The SEC has blocked Grayscale from converting its fund into an ETF, but recent legal news suggests a potential path forward. The SEC's position on crypto and Bitcoin is contentious, with a lot of uncertainty surrounding its classification. Despite personal opinions on crypto, the liquidity provided by an ETF could benefit Bitcoin proponents. While there are still hurdles to overcome, such as appeals or changes to objections, a path forward to a Bitcoin ETF seems possible.
Vinfast: The New Upstart Automaker
Vietnam's Vinfast entered the market through a SPAC at a valuation of over $100 billion. However, the company's sales in 2022 were less than a billion dollars, raising concerns about its actual value. With the primary owner holding almost 99% of the company's shares, there is a risk of manipulation given the low number of shares in the market. Despite its valuation, caution is advised for potential investors.
3M's $6 Billion Earplug Settlement
3M reached a $6 billion settlement for an extensive mass tort litigation related to faulty earplugs provided to the military. This is the largest mass tort litigation in US history and affects 250,000 plaintiffs. The settlement comes without an admission of liability from 3M. The news of a settlement provides clarity and reduces uncertainty, leading to a 6% increase in 3M's stock. However, there are additional settlement agreements pending, including a $10 billion agreement related to PFAS chemicals, which pose potential concerns for the company's future.
We celebrate Uncle Warren’s 93rd Birthday with a closer look at some of his best known isms and a look at few investments he wouldn’t want any part of.
(00:12) Bill Mann and Dylan Lewis discuss:
- Grayscale Bitcoin Trust’s path to a Bitcoin ETF and what it means for crypto adoption. - The largest automaker that you’ve never heard of – Vinfast – and why investors should stay away from its stock. - 3M’s $6B settlement, and how investors should be thinking about the legal issues plaguing the company.
(15:43) Ricky Mulvey and Anand Chokkavelu celebrate Warren Buffett’s birthday with a look at some of his most popular and misunderstood quotes.