Analyst Michael Pachter wondered why investors would pay more than twice the company's cash value for the possibility of GameStop converting more of its cash into Bitcoin, especially when they could invest in Bitcoin or a Bitcoin ETF themselves.
When asked about the bill resulting in a potential deficit increase of $2.4 trillion over the next decade, Bessent refrained from providing details but said the Trump administration’s proposal would result in “smart spending.”
As part of the London deal, China will supply the U.S. with rare earth resources and magnets, while Chinese students will be allowed to access colleges and universities in the United States.
The U.S. President also stated that he will work closely with Chinese President Xi Jinping to revamp the U.S.-China trade, which he believes will be great for both nations.
Although Chinese Vice Premier Lifeng did not dive into the details of the framework, he urged the two countries to show the spirit of good faith in abiding by their commitments.
Morgan Stanley’s economics team expects a modest push from tariffs, underlined by firmer prices for new cars, apparel, and other goods such as household appliances.
The WPIC forecasts a near one-million-ounce supply shortfall this year, citing steady demand from the automotive sector, industrial users, and ETFs, whose holdings are now at a 10-month high.
