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- Arizona Moves Toward Historic Bitcoin Reserve Legislation
Arizona Moves Toward Historic Bitcoin Reserve Legislation
Ryan Serkes
January 29, 2025
The
Daily Trade
Good morning.
Today’s newsletter dives into some intriguing developments across stocks, real estate, and crypto that could shape the market landscape. Rocket Lab’s upcoming earnings report is generating buzz, with analysts adjusting their estimates, hinting at potential growth despite recent stock fluctuations. Meanwhile, Microsoft’s significant land acquisition in Kenosha signals a commitment to bolstering tech infrastructure, promising economic benefits for the region.
On the real estate front, the controversial construction of luxury condos at the site of the Surfside tragedy raises important discussions about remembrance and progress. In the crypto arena, Arizona is on the cusp of pioneering legislation that could allow state funds to invest in Bitcoin, showcasing a growing acceptance of digital assets in mainstream finance. Stay tuned as we explore these stories further!
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Here's what's happening today:
Today in the Stock Market- Rocket Lab earnings report sparks investor interest 🚀
- Microsoft invests in Kenosha for data center growth 💻
- Texas Rangers expand broadcast options for fans 📺
- Luxury condos rise on Surfside tragedy site 🏗️
- Cleveland Browns to build hotel near training camp 🏨
- Arizona may invest state funds in Bitcoin. 🪙
- Luxury home now accepts cryptocurrency payments. 🏡
Question
What are your thoughts on Arizona's potential Bitcoin reserve legislation—do you think this could set a precedent for other states to follow?
Reply to this email with your answer
Today in the Stock Market
 Rocket Lab's Upcoming Earnings Could Boost Stock Interest Rocket Lab USA, Inc. (RKLB) recently saw its stock close at $28.98, marking a decline of 1.53% compared to the previous trading day. This performance lagged behind the S&P 500's gain of 0.92%. However, the company has shown a robust monthly gain of 11.82%, outperforming both the Aerospace sector and the broader S&P 500. Investors are particularly focused on the upcoming earnings release, with projections indicating an earnings per share (EPS) of -$0.09, reflecting a 10% increase from the prior year's quarter. The expected quarterly revenue stands at approximately $129.92 million, representing a significant 116.57% growth from the same period last year. Analysts have adjusted their estimates for Rocket Lab, which often indicates shifting business dynamics. Positive revisions in estimates are typically viewed as favorable signs for a company's outlook. The Zacks Rank system, which evaluates these changes, currently rates Rocket Lab at #3 (Hold), suggesting a cautious stance on the stock. Historically, stocks with a #1 rank have yielded an average annual return of 25% since 1988, indicating the potential for significant upside. As Rocket Lab prepares for its earnings report, investors are advised to monitor the Zacks Rank and consensus estimates closely, as these factors can be closely correlated with stock price movements. The Aerospace - Defense industry, to which Rocket Lab belongs, is currently ranked in the bottom 40% of over 250 industries, which may influence investor sentiment in the near term. |
 Microsoft's Major Data Center Investment in Kenosha Microsoft has made a significant investment in Kenosha, Wisconsin, by purchasing 240 acres of land aimed at future data center development. The acquisition was announced by state and city officials, highlighting the strategic importance of this investment for the region's economy. The land, which was recently rezoned for data center use, will support Microsoft's ongoing initiatives in artificial intelligence and technology, as stated by Governor Tony Evers. The exact financial details of the transaction have not been disclosed, and Microsoft has yet to finalize its project plans or timeline. The city of Kenosha has been proactive in preparing for this investment, having passed ordinances to facilitate the development of data center facilities. The local government views this as a transformative moment for the city, with Mayor David Bogdala emphasizing the long-term economic benefits and job creation that will stem from this project. The investment is expected to enhance Kenosha's status as a hub for innovation and economic growth, aligning with broader state efforts to attract technology investments. Microsoft's commitment to the Kenosha area follows its ongoing $3.3 billion data center project in nearby Mount Pleasant. The company’s expansion in the region underscores the growing significance of the Chicago-Milwaukee corridor as a strategic location for major tech firms, bolstered by a productive workforce and favorable business conditions. Local officials express optimism that this investment will further diversify and strengthen the economy, positioning Kenosha as a key player in the technology sector. |
 Texas Rangers Enhance Viewing Options with New Broadcast Deals The Texas Rangers have announced new multiyear agreements to expand their television broadcast options across a five-state territory. This development comes shortly after the unveiling of the Rangers Sports Network (RSN), which aims to provide fans with more access to games through traditional cable and digital providers like DirectTV and Spectrum. In a notable change, the team will also offer free over-the-air broadcasts for the first time since 2014, with plans for 15 games, primarily Friday home games. Neil Leibman, chairman of the Rangers Entertainment and Media Company, emphasized the importance of adapting to the evolving landscape of local game broadcasts. The team previously faced challenges with its regional broadcasts on Bally Sports Southwest, which was part of the financially troubled Diamond Sports Group. The new agreements are intended to ensure that fans have multiple viewing options, thereby enhancing the overall experience of following the Rangers. Additionally, the Rangers have entered into a direct-to-consumer streaming agreement through the Victory+ service, allowing fans to access games for a full season at a cost of $100. This move reflects a broader trend among sports franchises to diversify their broadcasting strategies in response to changing consumer preferences and the increasing popularity of digital streaming platforms. |
Today in Real Estate
 Luxury Condos to Replace Surfside Collapse Site Amid Controversy Developer Damac International has commenced the construction of a luxury condominium project named The Delmore at the site of the tragic Champlain Towers South collapse in Surfside, Florida, which claimed 98 lives in June 2021. This 12-story building, marketed as offering 'mansions in the sky' with prices starting at $15 million, has sparked outrage among families of the victims who are still seeking answers regarding the collapse. Martin Langesfield, who lost family members in the disaster, voiced his concerns about the timing of the project, emphasizing the need for a thorough investigation before proceeding with new developments. Despite the luxury appeal of the new condos, the marketing efforts have been criticized for failing to acknowledge the site’s tragic history. Langesfield and other family members have been advocating for the inclusion of a memorial to honor the victims as part of the new construction. Surfside Mayor Charles Burkett has also expressed the importance of respecting the site’s history while moving forward with development. The project is set for completion by 2029, and while Damac has pledged to contribute to a memorial, the details remain unclear. The ongoing investigation into the collapse is expected to provide insights into the safety of similar buildings in Florida, highlighting the broader implications for the real estate market in the area. |
 Cleveland Browns Unveil Plans for New Marriott Hotel The Cleveland Browns have announced the development of a Marriott-branded hotel, named The Barker Hotel, as part of a larger mixed-use project adjacent to their training complex in Berea, Ohio. This five-story hotel will be a key feature of the District 46 at CrossCountry Mortgage Campus, which aims to enhance the local community and provide a convenient accommodation option for fans attending training camps. Construction is slated to begin later this year, with an expected completion date in 2027. The new hotel will complement additional developments in the area, including sports facilities and retail spaces, aiming to create a vibrant hub for both local residents and visitors. David Jenkins, COO of the Haslam Sports Group, emphasized the hotel's role in supporting the growth of Berea while offering fans an ideal place to stay during training camp sessions, which attract thousands of spectators each summer. This initiative is part of a broader $200 million investment by the Browns to revitalize the area surrounding their training facility. The hotel will feature modern amenities including a bar, restaurant, fitness center, and meeting spaces, all designed to cater to the needs of guests and enhance their experience during their visits. |
Today in Crypto
 Arizona Moves Closer to Setting Bitcoin Reserve Legislation Arizona is on the verge of becoming the first U.S. state to vote on a bill that would allow the investment of state funds in Bitcoin. Recently, Senate Bill 1025, known as the 'Arizona Strategic Bitcoin Reserve (SBR) Act,' advanced out of committee, paving the way for a Senate floor vote. The bill, co-sponsored by Wendy Rogers and Jeff Weninger, aims to authorize public funds to invest up to 10% of their assets in virtual currencies, including Bitcoin. This could potentially result in billions of dollars being allocated toward digital assets. The proposed legislation defines 'virtual currency' broadly, encompassing any digital representation of value that serves as a medium of exchange. If the U.S. Treasury establishes a strategic Bitcoin reserve, Arizona's public funds could store their Bitcoin holdings there. With the Arizona general fund managing approximately $28 billion and the state retirement system holding around $50 billion, the implications of this bill are significant, allowing for a substantial influx into the cryptocurrency market. As the Satoshi Action Fund continues to advocate for Bitcoin reserve bills, Arizona's progress reflects a growing trend among states to explore the integration of digital currencies into their financial systems. Eleven states have introduced similar bills, signaling a shift in the legislative landscape that could reshape how public funds engage with cryptocurrencies. |
Luxury Irvine Property Now Accepts Cryptocurrency Payments A new luxury real estate opportunity has emerged in Irvine, California, as The Crypto Realty Group announces that a stunning property at 31 Shellbark is now open to cryptocurrency transactions. This modern two-bedroom home features high-tech amenities and has undergone significant upgrades, making it an attractive investment for forward-thinking buyers. Priced at $1,375,000, the seller is willing to accept Bitcoin, Ethereum, or Dogecoin as payment, reflecting the growing acceptance of digital currencies in traditional markets. The property is designed to appeal to a demographic that values innovation and luxury, with features like a smart home system and solar paneling. Piper Moretti, CEO and Broker of The Crypto Realty Group, emphasizes the importance of diversifying crypto holdings into stable assets like real estate, particularly as Bitcoin experiences a resurgence. The Irvine real estate market has seen remarkable growth over the past decade, positioning this property as a prime opportunity for investors looking to capitalize on both the crypto and real estate markets. As the integration of blockchain technology into real estate transactions continues to evolve, The Crypto Realty Group is at the forefront of this movement. By offering seamless experiences for buyers and sellers interested in crypto-based transactions, the firm is setting new standards in the industry and encouraging more individuals to consider cryptocurrency as a viable payment option for high-value real estate investments. |
Today's Technical Analysis
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Hold | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Hold |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Hold | ULTOSC Sell | STOCH Sell |
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Technical Indicator Information
Relative Strength Index (RSI) | Period: 14 days | Overvalued threshold: 70 | Undervalued threshold: 30
Money Flow Index (MFI) | Period: 14 days | Overvalued threshold: 80 | Undervalued threshold: 20
Williams Percent Range (WillR) | Period: 14 days | Overvalued threshold: -20 | Undervalued threshold: -80
Aroon Oscillator (AO) | Period: 14 days | Overvalued threshold: 75 | Undervalued threshold: -75
Moving Average Convergence/Divergence (MACD) | Period: 26/12/9 days | Overvalued threshold: MACD crosses below MACD Signal | Undervalued threshold: MACD crosses above MACD Signal
Stochastic Oscillator (STOCH) | Period: 14/3/3 days | Overvalued threshold: %K crosses below %D above 80 | Undervalued threshold: %K crosses above %D below 20
Commodity Channel Index (CCI) | Period: 20 days | Overvalued threshold: 100 | Undervalued threshold: -100
Bollinger Bands (BBANDS) | Period: 20 days | Overvalued threshold: price >= upper band | Undervalued threshold: price <= lower band
Parabolic Stop and Reverse (SAR) | Period: variable 50 - 100 days | Overvalued threshold: SAR crosses above price | Undervalued threshold: SAR crosses below price
Triple Exponential Average (TRIX) | Period: 15 days | Overvalued threshold: TRIX crosses below 0 | Undervalued threshold: TRIX crosses above 0
Ultimate Oscillator (ULTOSC) | Period: 28/14/7 days | Overvalued threshold: 70 | Undervalued threshold: 30
Directional Movement Index (DMI) | Period: 14 days | Overvalued threshold: PlusDI crosses below MinusDI | Undervalued threshold: PlusDI crosses above MinusDI
Average Directional Index (ADX) | Period: variable 14 days | Requirement: >= 25
Analysis is only performed on securities with market caps in excess of $100 million and with daily trade volume in excess of $50 million.
Disclaimers
The information in our newsletter is not intended to constitute investment advice and is not designed to meet your personal financial situation. It is provided for information purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor or a group of investors. It should not be assumed that any investments in securities, companies, sectors or markets identified and described will be profitable. We strongly advise you to discuss your investment options with your financial advisor prior to making any investments, including whether any investment is suitable for your specific needs.
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