Bitcoin is good to have for diversification: Ben Emmons

Stocks closed the day higher as investors digested a slew of moves headlined by bitcoin (BTC-USD) jumping above $98,000, Nvidia (NVDA) earnings leading the stock higher, and a tumble from Alphabet (GOOG, GOOGL) amid a Department of Justice move to break up its empire. FedWatch Advisors Founder and Chief Investment Officer Ben Emons joins Julie Hyman and Josh Lipton on Market Domination to break down the moves of the day. “We’re going to potentially really go into a different environment next year with the economy, with faster growth, with more liquidity, then yes, bitcoin should be trading at higher levels. So breaking $100,000 is quite likely here,” Emons says. He later adds that “a person like Kevin Warsh or Scott Benson would be very pro-crypto” if President-elect Donald Trump nominated either for his Treasury secretary position. As Trump rounds up the remainder of his Cabinet nominations, Emons notes that “this next Treasury secretary likely would have to take a very different view on crypto than Janet Yellen did.” To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Conor Hickey.
#youtube #bitcoin #crypto

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