Bitcoin is on a rollercoaster ride this week. The price rose about $20,000 on some exchanges, but on others, it stayed around $16,000. Ryan Surber, Contributor for Seeking Alpha, and Daniel Roberts, Senior Writer at Yahoo Finance, take a look back at the week in cryptocurrency.
Amid this roller coaster, big finance is rushing in to get a piece of cryptocurrency. Groups are now racing for bitcoin derivatives. Roberts argues the price of Bitcoin rose so much this week because the Chicago Board Options Exchange announced they will launch Bitcoin futures on December 10. The question now becomes, will futures begin Sunday night with CBOE, and what that will do to the price, says Roberts.
Surber says his price target is $90,000 for Bitcoin over the mid-term. Roberts says he doesn't think this number is so crazy. When looking at the impact of small investors on this cryptocurrency, Surber says this market has just scraped the surface.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
