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- 🚀 Bitcoin Crosses $100K Amid Trump's Support for Crypto
🚀 Bitcoin Crosses $100K Amid Trump's Support for Crypto
Plus Intel tumbles 16% as Pat Gelsinger unexpectedly steps down as CEO...
TOP STORY
📈 Bitcoin Crosses $100K Amid Trump's Support for Crypto

😮 Bitcoin has officially done it. After months of massive gains amid anticipation of the incoming crypto-friendly Trump administration, Bitcoin crossed its long-awaited $100K milestone.
👨💼 This massive crypto milestone comes the same week Trump announced his nomination of Paul Atkins to the SEC and has been driven in large part by Trump’s many promises around crypto.
👀 So, let’s take a look at some of Trump’s promises, Bitcoin’s incredible recovery since the fall of FTX, and what’s next for the cryptocurrency…
🪙 Trump Promises to Make US the ‘Crypto Capital of the World’
A huge driver of the recent surge in Bitcoin is Trump’s election win, with the incoming President even taking to Truth Social to congratulate Bitcoiners (and take credit 🤣) for Bitcoin’s recent milestone:

⭐️ And while Trump can’t take 100% of the credit, his recent moves have been undoubtedly significant for crypto.
👨💼 Trump’s nomination of crypto-advocate Paul Atkins to the SEC will be a massive shift in regime from outgoing chairman Gary Gensler, who was a vocal opponent of crypto and pushed to classify many cryptocurrencies as securities, including Solana, Terra Luna, Cardano, and more.
“Much of Gensler’s agenda will not survive the next four years. Between the courts and a new SEC, we’re going to see a rollback of the regulatory onslaught on crypto.”
✅ And that’s just one of many changes Trump is expected to bring to the industry. Trump has also promised to:
Create a crypto presidential advisory council
Keep 100% of the bitcoin the US holds or acquires
Ensure crypto is mined in the US
Prevent the development of a Central Bank Digital Currency (as many crypto advocates see government-controlled digital currencies as a threat to freedom).
And much more…
🥇 And specific policies aside, Trump has been very vocal about his goal to make America a crypto leader, surrounding himself with pro-crypto experts to help make that happen.
🤴 For example, on Friday, Trump named former PayPal COO David Sacks as his AI and Crypto Czar’ to guide policy for the Administration in AI and Cryptocurrency.
💡 Fun Fact: In 2019 Trump tweeted he was ‘not a fan of Bitcoin and other cryptocurrencies’ saying they are ‘not money’ and that their value is ‘highly volative and based on thin air’
🤯 An Incredible Recovery
While Bitcoin’s rise to $100K may have seemed inevitable given its massive run-up over the past few months, only 2 years ago, many were saying crypto’s best days were behind it, with the high-profile collapse of FTX casting doubts on the industry at large and crashing Bitcoin more than 70%.
🚨 While bitcoin has been surging as of late, it’s important to remember that it is a highly volatile asset and carries with it a high degree of risk. According to Forbes, Bitcoin is roughly 5x more volatile than the S&P 500 and gold.

🤷♂️ As for what’s next for Bitcoin, I won’t pretend to be the expert. While some say Bitcoin’s $100K milestone marks a new era in crypto, others are more skeptical.
👀 Personally, I don’t hold any cryptocurrency, but I’m very curious to read your thoughts about the recent milestone on Blossom!
🤿 Before we dive into the second story of the week - Pat Gelsinger stepping down as CEO of Intel, a quick word from this week’s sponsor Purpose investments!
PRESENTED BY PURPOSE INVESTMENTS
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BIG TECH NEWS
👨💼 Intel Tumbles 16% After Pat Gelsinger Steps Down As CEO

In September, after reporting its worst earnings report ever and announcing plans to cut 15,000 jobs, the CEO of Intel Pat Gelsinger became a bit of a meme by posting prayers on Twitter, leading to headlines like “Intel CEO reads his last rites.”
Now, after a disastrous year with Intel (INTC) plummeting 56% as other tech stocks surge, the CEO is stepping down after a 3-year battle to save the company - driving the stock down another 16% this week.
The move was sudden and unexpected, with the company naming two interim co-CEOs while the search for a replacement continues.
While Gelsinger claims the decision was his own and that he is ‘declaring his right to early retirement’ given the situation, it’s more likely Gelsinger was ousted due to the board’s “frustration with Intel's fumbling to get back in the semiconductor innovation and AI technology leadership game.”
😬 Gelsinger… Tried His Best?
In 2021, Gelsinger was given a tough task - taking over the reins of a company that had neglected Smartphone CPUs and neglected GPUs - missing out massively on the booms from mobile & AI.
As other competitors like AMD specialized in design, outsourcing manufacturing to companies like Taiwan Semi-Conductors, Intel fell massively behind trying to do everything in-house.

Since 2019, AMD has grown from 10% of Intel’s revenue to over 40%
Gelsinger immediately started marking investments to catch up on what he called a ‘decade of underinvestment’ and moved to separate Intel’s manufacturing and design business to attract investment and new customers.
This showed some early promise, with Intel landing a multi-billion dollar deal with Amazon AWS to co-invest in custom chip designs and AI semiconductor manufacturing.
⏰ Too Little Too Late?
But while Gelsinger said Intel was ‘on track to catch-up by 2026’, the board clearly wasn’t satisfied, and investors lost patience, casting Gelsinger out as the scapegoat for Intel’s recent failings.
All this has left Intel in a state of limbo, with analysts left to speculate on what strategy Intel will adopt moving forward - particularly for its foundry/manufacturing business, which Gelsinger pushed to make a major focus.
Some analysts like Citi think it’s in the ‘the best interest of Intel shareholders if the company stops trying to be a foundry’ as it has been a massive cash drain and hurts the company’s gross margins.
On the other hand, Bank of America analysts point out that fully separating the manufacturing and design arms would put the company at risk of losing out on the $8B government grant from the CHIPS Act.
Overall, analysts seem to agree that either way, the solution would be short-term, with Wedbush saying:
“[Seperating the two units] would not solve Intel’s larger issues, meaning any immediate bump would be onetime in nature.”
🌩️ For now, the company’s future is shrouded in uncertainty, and it seems investors will have to watch, wait, and maybe pray for things to turn around for the once-great tech stock.
💡 Read my full breakdown of Intel’s tragic fall from grace in the September 22 edition of the Weekly Buzz here!
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Commissions, trailing commissions, management fees, and expenses may all be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.
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