Election Outcome Could Propel Bitcoin

CRYPTO
Election Outcome Could Propel Bitcoin

As the U.S. presidential election nears its final stages, Bitcoin analysts have shared bold predictions for the cryptocurrency’s price. If Donald Trump beats Kamala Harris, some analysts expect Bitcoin (BTC) could surge to $80,000–$90,000. Trump has shown support for Bitcoin and the cryptocurrency industry, proposing ideas like appointing a crypto-friendly SEC chair, establishing a national Bitcoin reserve, and making the U.S. a Bitcoin mining hub. According to Bernstein analysts, this pro-Bitcoin stance could drive BTC to new highs, particularly with the recent completion of Bitcoin’s fourth halving, an event historically associated with price surges.

However, if Harris wins, market analyst Miles Deutscher predicts an “instant dump” in Bitcoin’s value due to concerns about tighter crypto regulations under her administration.

Some analysts, like Lark Davis, are still optimistic, suggesting that November’s traditionally strong performance, combined with a potential Fed rate cut, could push BTC towards $100,000 by month’s end. Overall, the election, regulatory stance, and macroeconomic factors are setting the stage for a potentially volatile month for Bitcoin’s price trajectory.
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ELECTION
America Faces Election Day Uncertainty

With the U.S. presidential election tomorrow, pollsters are bracing for potential turbulence, no matter who claims victory. Margins remain razor-thin, and public trust in the system is at a historic low. Already, over 72 million Americans have cast their votes, marking democracy in action, yet polls show a near-deadlock nationally and in swing states. Ipsos suggests Trump may have a slight edge, but uncertainty looms large.

For many, this close race symbolizes a deeply polarized America. While an ABC News/Ipsos poll found 83% of Americans would accept the election results, trust hinges on transparency and candidates’ willingness to concede. With both sides casting the election as a pivotal moment for America’s future, the stakes feel existential.

If the vote remains close, prolonged counting and intensified misinformation could stoke divisions. No matter the outcome, America may emerge more divided, necessitating reforms to restore faith in the democratic process.
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ARAMCO
Aramco Sustains Dividend Amid Profit Drop

Saudi Aramco posted a 15.4% decline in third-quarter profits, driven by lower oil prices and weakening refining margins, though it upheld its $31.05 billion dividend. The payout includes a base of $20.3 billion and a performance-linked $10.8 billion. Aramco reported a net income of $27.56 billion, slightly exceeding estimates but down from $29.1 billion in the prior quarter. This dip aligns with global oil majors facing similar challenges from reduced prices, weaker demand, and OPEC+ production cuts.

Aramco’s average crude price fell from $85 per barrel in Q2 to $78.7 in Q3. Despite the decline, cost-saving measures and decreased production royalties helped offset losses. The firm also raised its capital expenditure guidance to $13.23 billion. CEO Amin Nasser highlighted continued investment in upstream and downstream developments, aligning with Saudi Arabia's Vision 2030 economic diversification. Meanwhile, the Saudi economy faces slower growth and an increased budget deficit.
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ACQUISITIONS
Meta Considers Stake in Ray-Ban

Meta is rumored to be considering a 5% stake in EssilorLuxottica, the maker of Ray-Ban and Oakley eyewear. Meta and EssilorLuxottica previously collaborated on AI-powered smart glasses, and CEO Mark Zuckerberg has hinted at deeper integration to position eyewear as the next big tech platform. The potential investment reflects Meta's commitment to expanding wearable technology. EssilorLuxottica shares rose 3%, and Burberry’s stock closed up 6%.

European luxury brands saw a surge in shares amid rumors of high-profile deals involving Moncler, Burberry, and EssilorLuxottica. Italian outerwear brand Moncler is reportedly eyeing a takeover of Burberry, the iconic British fashion house known for its trench coats. Struggling with financial challenges and a slow post-pandemic recovery, Burberry recently appointed a new CEO, Joshua Schulman, to revitalize the brand. Analysts say a Moncler-Burberry merger could help realign Burberry’s focus on core products like outerwear while leveraging Moncler’s marketing strengths.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.