BREAKDOWN: What the Stock Market's 'Robinhood Rally' Means for Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 June 2020
⏱️ 33 minutes
🧾️ Download transcript
Summary
The largest 50-day rally in stock market history and even stocks of bankrupt companies are up more than 100%. What is going on?
This episode is sponsored by Bitstamp and Ciphertrace.
Today on the Brief:
- Saudi Arabia injects $13 billion in bank liquidity via blockchain.
- China’s state TV CCTV says Binance is still allowing crypto trading in China.
- MakerDAO community greenlights real world collateral.
Our main topic: The “Robinhood Revolution.”
The next time someone tells you crypto markets are too irrational or volatile, point them to stock markets right now.
- The largest 50-day rally in history
- Every S&P 500 stock up from 10 weeks ago
- Multiple bankrupt companies up more than 100% since they declared bankruptcy
This is the “Robinhood Revolution,” as a horde of day traders are outperforming billionaire investors and commanding the stock market narrative.
This episode looks at:
- Who is this new generation of investors
- Why they’re so active right now
- What they’re betting will go up
- Why they don’t care about earnings, balance sheets or any other fundamentals
- Four scenarios for how this rally could have an impact on the bitcoin and crypto industry
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Transcript
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| 0:53.8 | Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond. |
| 1:03.2 | This episode is sponsored by BitStamp and Cipher Trace. |
| 1:07.5 | The breakdown is produced and distributed by Coin Desk. |
| 1:12.4 | And now, here's your host, NLW. |
| 1:17.8 | Welcome back to The Breakdown. |
| 1:19.9 | It is Tuesday, June 9th, and today's main topic is going to be the Robin Hood rally in the stock markets. |
| 1:26.2 | We're going to talk about what it is, whether it's |
| 1:28.8 | real, and what it means for Bitcoin. Before that, however, the breakdown brief. First up on the |
| 1:34.9 | brief is Saudi Arabia's central bank pumping $13 billion of bank liquidity into the markets |
| 1:41.8 | using blockchain. So what happened? Like every other central |
| 1:45.6 | bank in the world, the Saudi Arabian central bank right now is primarily concerned with liquidity |
| 1:51.3 | in capital markets, and so introduced an injection of $13 billion worth of capital to a set of |
... |
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