Coronavirus cases in this country topped 11 million over the weekend, making today’s news from Moderna, Inc. (Nasdaq: MRNA) that much more significant.
The pharmaceutical company announced its COVID-19 vaccine appears to be 94.5% effective in a major trial. A week ago, competitor Pfizer Inc. (NYSE: PFE) said its own vaccine showed similarly effective results.
While many stocks rose as a result of Pfizer’s news, something unique — and puzzling — happened in the world of crypto.
In this special three-minute segment Xx link to post in email xX, Weiss Crypto Ratings analyst Juan Villaverde observed that some investors were selling off their Bitcoin (BTC, Tech/Adoption Grade “A-”) upon learning of a viable vaccine.
Juan explains investors should have the opposite approach:
It was really interesting to see equity prices rally as Bitcoin actually went down for a while. I was thinking who’s selling Bitcoin because we have a COVID vaccine?
The rationale there is, now that COVID is going away, we’re going to return to growth, and there’s not going to be as much need or demand for safe havens. This is absolutely insane. That is absolutely the wrong way of seeing it.
The fundamentals for owning Bitcoin have not changed one iota because we have a COVID vaccine.
In this insightful video, Juan discusses:
- What crypto investors need to know long-term, as more companies release COVID-19 vaccine findings.
- How high Bitcoin will trade in the near future.
- Why Bitcoin and other cryptocurrencies, like Ethereum (ETH, Weiss Tech/Adoption Grade “A”)are leading the way in a financial transformation.
And more!
The information in this three-minute segment couldn’t be timelier. I suggest you watch it now.
Happy investing!
Jessica Borg
Financial Anchor
Weiss Crypto Ratings
