I was catching up on Dan Primack’s Pro Rata newsletter and couldn’t help but notice the growing length of SPAC-related news & announcements. The new financial instrument is very au currant. So far, there have been 144 new SPAC IPOs that have raised close to $45 billion. In 2020, 248 SPAC IPOs raised $83 billion. Clearly, not all of them are going to be “awesome.” Don’t they say that the rising tide lifts all wrecks? I wonder how many of the SPACs are going to leave behind a trail of tears. Here is a list of all SPAC-related listings.
He told Institutional Investor that by the fall of 2021 bitcoin could be fairly valued at $100,000 per unit based on fundamental factors such as usage and the number of wallets in “the most powerful computing network the world has ever seen.”
Mark Yusko of Morgan Creek Capital Management, aka the man who has set up an Exchange Traded Fund (ETF) to ride the Special Purpose Acquisition Company (SPAC) trend/craze, believes that Bitcoin will be $100,000 by the fall of 2021. Not everyone is a believer, of course.