Bitcoin on-chain analysis, CoreWeave's debt financing, potential applications in electric motors, casual conversations about ice cream and running shoes.
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Quick takeaways
On-chain analysis provides insights into Bitcoin's potential global bottom and positive outlook for its four-year cycle leading up to the halving in 2024.
The rapid depreciation of GPU assets and potential regulatory challenges raise concerns about Binance's financial stability.
Deep dives
On-Chain Analysis and Bitcoin Monthly
On-chain analysis is a new field of financial analysis that uses blockchain data to understand the demand and supply dynamics of cryptocurrencies like Bitcoin. It provides insights into factors such as the number of addresses, Bitcoin holdings, and time since last movement. The Bitcoin Monthly publication from ARK Invest analyzes on-chain activity and indicates positive trends in terms of low volatility and reduced dormancy of coins. These trends suggest a potential global bottom and a positive outlook for Bitcoin's four-year cycle leading up to the halving in 2024.
CoreWeave's Debt Financing and Potential Risks
CoreWeave, a GPU-focused cloud service provider, recently secured $2.3 billion in debt financing to purchase more GPUs for their operations. This financing is collateralized with existing GPUs and is seen as a way for NVIDIA to diversify its supply away from other tech giants. However, this venture carries risks, including the rapid depreciation of GPU assets and potential regulatory challenges faced by Binance, a company important to the industry. Recent rumors of Binance executives' arrests in China and the decline in on-chain data for the Binance exchange raise concerns about its financial stability.
TikTok as a Disruptive Advertising Platform
TikTok has emerged as a major force in the social media landscape by introducing AI-recommended content, fundamentally changing content distribution. With a growing user base of over a billion, TikTok commands a piece of the advertising revenue pie. Its unique features and increasing adoption by other social media platforms reflect its disruptive impact. TikTok's potential as an alternative to traditional TV and a more effective advertising channel than other social media platforms like Meta is evident, making it an important player to watch.
If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.
This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by ARK Research Associate, David Puell. Together they discuss ARK’s Bitcoin Monthly Report and crypto outlook, the hunt for AI computing, what CoreWeave is doing to secure more GPUs, and more.
Key Points From This Episode:
Intro
Crypto Outlook
The Hunt for AI Computing and CoreWeave
Audience Q&A
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