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11:50
National Bank of the United Arab Emirates has opened up the possibility of allocating bitcoin in its investment process.
PANews reported on February 24 that executives from Emirates NBD stated in an interview with CNBC that the bank has opened up the possibility of allocating bitcoin in its investment process, viewing it as a store of value and "digital gold," and recognizing its proof-of-work mechanism, limited supply, and low inflation characteristics. The executive candidly noted that bitcoin's current valuation is more attractive than it was six months ago, when its price was too expensive. He revealed that the bank's internal fair value model indicates that a reasonable price for bitcoin within 12 months could approach $100,000, and the bank is still refining the model. He also stated that the bank has not yet made a final decision to allocate bitcoin, but if it is included in the portfolio in the future, it will be with a limited proportion. The reason is that bitcoin is correlated with market risk appetite and is highly volatile, while the bank seeks diversification in its investment portfolio.
11:46
US Stocks Movement | Most of the Tech Magnificent Seven Rebound in Pre-market Trading
Glonghui, February 24th|Among the seven major US tech stocks, six are up in pre-market trading, with only Tesla down 0.77% before the market opens. Nasdaq index futures rebounded from Monday's sell-off triggered by concerns over the disruptive impact of artificial intelligence tools.
11:35
Boston Fed: U.S. May Be Headed Toward Higher Structural Unemployment, Which the Fed Can't Offset
BlockBeats News, February 24th, Boston Fed said that transitioning to artificial intelligence could make it difficult for the Fed to understand; the US may be heading towards a higher structural unemployment rate that the Fed cannot offset; the Fed has always focused on the economic performance of various economic groups; this data is crucial for understanding the slack in the labor market. Furthermore, Boston Fed said that it hopes the "protective fence" that safeguards the Fed's independence can be maintained. Even as productivity continues to rise, the Fed still needs to pay attention to inflation issues; addressing short-term issues may lead to bigger problems in the long term. Regarding how Powell may respond to Trump's pressure, "we will only know when the time comes." Fed Chair nominee Powell needs to build good relationships with central bank staff and colleagues. (FXStreet)
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