## Bitcoin Climbs and Meme Coins Surge After Trump Rally Attack

The cryptocurrency market experienced a surge following a reported security breach at a Donald Trump rally. **Bitcoin** rose, and **meme coins** inspired by the former president saw significant spikes. 

**Prediction markets** suggest that the incident might have benefited Trump's campaign.

**Coin Prices**

* **BTC:** $59,348.00 (+2.38%)
* **ETH:** $3,171.14 (+1.34%)
* **BNB:** $532.71 (-0.29%)
* **SOL:** $143.48 (+3.20%)
* **DOGE:** $0.11225 (+4.02%)
* **ADA:** $0.429785 (+3.87%)
* **TRUMP:** $7.93 (+26.72%) 

### Key Takeaways

* The incident sparked a rally in **meme coins** associated with Trump, with **TRUMP** token experiencing a notable surge. 
* **Bitcoin** also saw a positive price movement, which some speculate could have been influenced by the incident.
* **Prediction markets** indicate that the event might have a positive impact on Trump's campaign.

Trump-inspired meme coins jumped following an apparent rally attack, plus Bitcoin rose—and prediction market bettors think it's helped his campaign.

Bitcoin Soars and Meme Coins Explode After Trump Rally Incident

### AMP Ltd. Takes a Leap into Bitcoin Futures

**Australian pension and wealth firm AMP Ltd.** has made headlines by becoming one of the first large retirement managers in the nation to invest in **cryptocurrency products**. The firm has allocated approximately **A$27 million ($17.2 million)** to **Bitcoin futures**.

AMP Senior Portfolio Manager **Steve Flegg** announced this decision in a LinkedIn post, indicating that the fund has **"taken the plunge"** into Bitcoin. A spokesperson confirmed that the investment is specifically in Bitcoin futures and stated there are currently no plans to increase this allocation.

**Bitcoin's Recent Surge**

Recently, Bitcoin exceeded **$100,000** for the first time, reflecting a **40% increase** since Donald Trump's victory in the **November US Presidential election**. Trump's pro-crypto stance aims to create a **supportive environment** for digital asset firms in the United States.

However, the Australian pension system, valued at **A$4.1 trillion**, has been cautious regarding cryptocurrency investments. **Reserve Bank of Australia Governor Michele Bullock** commented that Bitcoin has no significant role in the Australian economy. Furthermore, the prudential regulator has stressed the need for **"robust risk management controls"** when dealing with digital assets.

### Industry Context

AMP's investment comes amid scrutiny of Australia’s pension sector regarding various issues, including **unlisted market valuations, customer service**, and **investment fees**. The industry undergoes an **annual performance test** to eliminate underperforming retirement products, with many offered by AMP failing this test for two consecutive years.

### Strategic Shift in Digital Assets

According to AMP’s Chief Investment Officer **Anna Shelley**, this investment acknowledges the **structural changes** in the digital-assets industry over the past year, including the launch of **exchange-traded funds** that invest directly in Bitcoin and Ether by leading investment managers. After thorough testing and consideration, AMP decided to integrate a **small and risk-controlled position** in digital assets through its **Dynamic Asset Allocation program** in May, which constitutes about **0.05%** of its total pension assets.

The **Australian Prudential Regulation Authority** did not comment on AMP’s investment but referred to a **2022 letter** addressing the financial sector’s stance on digital assets.

(Bloomberg) -- Australian pension and wealth firm AMP Ltd. has become one of the nation’s first large retirement managers to invest in cryptocurrency products, allocating about A$27 million ($17.2 million) to Bitcoin futures. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamThe fund “took th

AMP Ltd. Makes Bold Move: Australian Pension Fund Invests in Bitcoin Futures

News of a **prominent investor**'s entry into **Riot Platforms (NASDAQ: RIOT)** has sent the cryptocurrency miner's stock soaring nearly **5%** higher. This increase stood out amidst a general decline in the market, with the **S&P 500** index falling by **0.5%** on the same day.

According to a report by *The Wall Street Journal*, **Starboard Value**, a well-known activist investor, has acquired a **significant** stake in Riot. While the exact size of this stake remains undisclosed, it is expected that Starboard will push for changes within the company, following its typical activist approach.

The discussions between Riot and Starboard reportedly focus on potential transformations of Riot's mining facilities into centers for **hyperscalers**, which are large data center users. This strategic shift could enhance Riot's capacity for mining cryptocurrencies, especially **Bitcoin**.

In a statement, Riot acknowledged the discussions, emphasizing their commitment to creating value for all shareholders and expressing eagerness for constructive dialogue with Starboard.

Starboard's interest likely stems from concerns shared by other Riot shareholders, who have watched the company's stock lag behind its competitors. Earlier this year, Riot faced difficulties in its merger attempts with fellow Bitcoin miner **Bitfarms**, causing worries about missing out on recent cryptocurrency rallies.

**Before investing in Riot Platforms**, it's worth noting that the *Motley Fool Stock Advisor* has identified **10 best stocks** for investors, and Riot was not included in that list, suggesting there may be more lucrative opportunities elsewhere in the market.

News of a prominent investor's entry into Riot Platforms (NASDAQ: RIOT) juiced the cryptocurrency miner and investor's stock on Thursday.  Citing unidentified "people familiar with the matter," the newspaper added that -- per its usual approach, and that of other activist investors -- Starboard will advocate for changes at the company.  The Journal added that it couldn't ascertain the exact size of Starboard's stake.

Riot Platforms Stock Soars 5% on News of Major Investor Involvement

**A Tennessee man has made headlines** after demanding **$20,000 in Bitcoin** as part of a **sextortion scheme**. This incident highlights the growing trend of using cryptocurrency in **criminal activities**. Authorities are investigating the case, emphasizing the importance of awareness and vigilance in the digital age. As sextortion cases rise, it’s crucial to understand how **Bitcoin** and other cryptocurrencies can be exploited for such purposes. This case serves as a stark reminder of the **dangers** associated with sharing personal information online and the need for **cybersecurity measures**.

Tennessee Man Demands $20K in Bitcoin in Shocking Sextortion Case

## Understanding the Recent Trends in MicroStrategy and Bitcoin

**MicroStrategy (MSTR)** has made headlines recently due to its **over 500% share price increase this year**, which has led the company to sell stock and convertible securities to fund its **bitcoin purchases**. With **bitcoin recently surpassing $100,000**, opinions on this strategy vary widely, from being hailed as genius to labeled as madness. However, this capital allocation strategy is rational, especially from a value investor's perspective.

## The Value of Bitcoin for MSTR

As of **December 1, 2024**, MSTR held **402,100 bitcoins**, valued at approximately **$38.8 billion**. With the share price at **$383.25**, this puts the premium on bitcoin at over **two times** its value. Using its stock, which is valued higher than its underlying asset, to purchase more bitcoin helps reduce the premium MSTR shareholders pay, a beneficial move that minimizes the cost of ownership.

## The Rationality of Stock Issuance vs. Repurchase

Rational issuers of stock can leverage their **attractive currency** to acquire assets at fair value. This includes issuing stock when it's overvalued to buy undervalued assets. Conversely, companies repurchase shares to buy back their own stock when they are undervalued, effectively using cash as a currency. This strategic approach allows companies to leverage **future returns** while waiting for the price-value gap to close.

## A Closer Look at Share Repurchases

At **Harris | Oakmark**, we focus on companies that are undervalued. Around **88%** of the companies in our U.S. large-cap value strategies have engaged in stock buybacks over the last year, repurchasing nearly **4%** of their market cap on average. Notably, **General Motors (GM)** has repurchased over **24%** of its average market cap, aligning with our strategy of partnering with value-oriented, shareholder-friendly management teams.

## Final Thoughts

When analyzing stock repurchases or issuances, remember that they are **two sides of the same coin**. The value of the currency used in these transactions directly impacts your investment's value. Always consider the relationship between the currency's value and the assets being purchased before forming a judgment.

![Tony Coniaris](https://oakmark.com/wp-content/uploads/sites/3/2023/10/Tony-Coniaris-news.jpg)

*This is an opinion piece and should not be considered as investment advice.*

Some companies are issuing shares and some are repurchasing them – why it all makes sense right now.

The Dichotomy of Share Issuance and Bitcoin: A Rational Investment Strategy

### Vancouver's Bitcoin-Friendly Initiative
The city council of **Vancouver** has taken a significant step by approving a proposal to transform the major tech hub into a **Bitcoin-friendly city**. This motion, introduced by **Mayor Ken Sim**, instructs city officials to explore the possibility of converting a portion of the city’s financial **reserves** into **Bitcoin** and to integrate the cryptocurrency into city operations, including accepting it as a form of payment.

### Mayor Ken Sim's Vision
Mayor Sim, a notable **Coinbase** investor, advocates for this initiative, emphasizing that it would be **irresponsible** for the city not to consider Bitcoin as a strategic asset to maintain **financial stability**. He highlights the growing institutional interest in Bitcoin and its potential as a **hedge against inflation**.

### Microsoft Shareholders Say No
In stark contrast, **Microsoft** shareholders expressed their disapproval of a similar proposal during the company’s recent annual meeting. They overwhelmingly voted against a motion that would have encouraged the tech giant to invest part of its reserves in Bitcoin. **Michael Saylor**, the executive chairman of **Microstrategy**, argued for increased corporate involvement in the cryptocurrency, but the proposal was ultimately defeated, with Microsoft's board advising against it.

### The Broader Trend
Vancouver's decision aligns with a broader trend where governments and corporations are increasingly considering Bitcoin as a viable investment. Recent proposals from politicians in the U.S., **Russia**, and **Brazil** to create Bitcoin reserves reflect this growing acceptance. Additionally, companies like **Tesla** and crypto mining firms are also exploring Bitcoin investments. 

### Bitcoin's Price Surge
Following a significant price drop below **$17,000** in December 2022, Bitcoin's value has skyrocketed to over **$100,000** today, buoyed by the renewed interest in cryptocurrencies and the promise of regulatory support from political figures like **Donald Trump**. 

For those looking to deepen their understanding of cryptocurrencies, **Fortune's Crypto Crash Course** offers a concise educational resource.

The vote is a part of a growing movement to invest in Bitcoin as an inflation hedge.

Vancouver Embraces Bitcoin: A Bold Move Amidst Microsoft Shareholder Resistance

### Google Faces AI Challenges
If you believe the critics, **Google** is in an **existential crisis** due to the rise of **artificial intelligence**. Some fear that rival AI tools could **siphon off traffic** from Google, while others worry about spammy AI-generated content flooding search results.

### Liz Reid's Optimistic Perspective
However, Liz Reid, Google’s vice president of search, dismissed these fears during her talk at the **Fortune Brainstorm AI conference** in San Francisco. She emphasized the need for Google to **adopt more AI** to make search more **effortless**, thereby encouraging users to ask more questions. Reid pointed out that there are **billions of unasked questions**, mainly due to users feeling unsure about getting accurate answers.

### Competing with Rivals
Google is racing to integrate more AI tools into its search function in response to the rising competition from companies like **OpenAI** and **Anthropic**. These competitors are gaining traction, especially among younger users, which raises concerns for Google’s ad revenue and growth potential.

### AI Overviews: A New Approach
To combat competition, Google has introduced **AI overviews** at the top of its search results pages, providing instant answers without the need for users to click on links. Recently, Google unveiled its latest AI model, **Gemini 2.0**, designed to enhance these overviews and integrate into other Google features.

### The Spam Content Challenge
Another significant issue is the surge of low-quality AI-generated content. The ease and low cost of creating these sites pose a risk of overwhelming Google’s search results. Reid acknowledged that combating spammy content has been a long-standing battle for Google. She clarified that **AI-generated content** is not inherently bad; the issue arises when it is used to create vast amounts of low-quality material.

### Publisher Concerns
As Google enhances its AI capabilities, concerns grow among web publishers about potential traffic losses due to AI overviews, which can reduce the need for users to click on links. Reid framed AI overviews as a starting point for research but did not directly address the traffic impact on publishers. Instead, she suggested that the traffic Google does send is of higher quality, leading to longer user engagement on those sites.

### Related Articles
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Liz Reid, Google’s vice president of search, talked down fears that her company is threatened by the rise of artificial intelligence.

Why Google’s Search Chief Is Confident Despite AI Competition

Apple’s initial public offering was a **once in a generation event**. When the computer company from Cupertino, California, began trading on the **Nasdaq** on December 12, 1980, it was the biggest IPO since the **Ford Motor Company** went public in 1956. As **The Wall Street Journal** famously put it, “Not since Eve has an Apple posed such temptation.”  

The hype proved to be entirely **justified**. Apple is today the largest company in the world, becoming the first firm to reach a **$3 trillion valuation** in 2022—four years after it was the first U.S. corporation to surpass the $1 trillion threshold. Those who bet on Apple’s success 44 years ago—and even much later—have been richly rewarded.  

If you had invested **$10,000** of today’s dollars in Apple when the company went public at **$22 a share**, your investment would now be worth **$32.7 million**, according to calculations by **Fortune** using data from **S&P Capital IQ**. The analysis accounts for Apple’s five stock splits and assumes the reinvestment of all dividends, based on the stock’s price at close Wednesday.  

The gains are impressive in comparison to the broader market. Since November 1982, the earliest that data from **Bloomberg** is available, Apple shares have yielded a total return of **20%** on an annualized basis. That number is **12%** for the **S&P 500** over the same span, meaning Apple has grown nearly twice as fast on average each year.  

### Warren Buffett Cashes in on Apple Gains  

Even investors who got in decades after Apple went public have witnessed huge gains. This includes **Warren Buffett**, whose **$40 billion** bet on the company, including purchases from 2016-18, has paid off handsomely for **Berkshire Hathaway** shareholders.  

At the end of the last year, Berkshire’s Apple holding was worth **$174.3 billion**. The Oracle of Omaha has sold off more than two-thirds of that position since, but Berkshire’s **300 million Apple shares**—worth about **$74 billion** as of Wednesday’s close—remains the largest piece of the conglomerate’s portfolio.  

Berkshire’s position at the start of 2024 would currently be worth over **$220 billion**, but Buffett likely won’t fret about missing the upswing. Stock sales propelled Berkshire’s profits to **$26.25 billion** last quarter, compared to a loss of **$12.77 billion** during Q3 a year ago. As **Fortune’s** Shawn Tully recently noted, Buffett’s Apple gambit will likely go down as one of the best wagers in the storied investor’s career.  

For those who have held on to the stock for even longer, **December 12** is an anniversary worth celebrating.

Apple has become the largest company in the world, becoming the world’s first firm to reach a $3 trillion valuation in 2022. 

Bitcoin Soars and Meme Coins Explode After Trump Rally Incident

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Bitcoin Climbs and Meme Coins Surge After Trump Rally Attack

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AMP Ltd. Makes Bold Move: Australian Pension Fund Invests in Bitcoin Futures

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The Dichotomy of Share Issuance and Bitcoin: A Rational Investment Strategy

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Other Latest News

AMP Ltd. Makes Bold Move: Australian Pension Fund Invests in Bitcoin Futures

Riot Platforms Stock Soars 5% on News of Major Investor Involvement

Tennessee Man Demands $20K in Bitcoin in Shocking Sextortion Case

The Dichotomy of Share Issuance and Bitcoin: A Rational Investment Strategy

Vancouver Embraces Bitcoin: A Bold Move Amidst Microsoft Shareholder Resistance

Why Google’s Search Chief Is Confident Despite AI Competition

Investing in Apple: How a $10,000 Bet 44 Years Ago Could Have Made You a Multi-Millionaire