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Trump Pledges to Abolish Daylight Saving Time

Bitcoin Hits $107K and more...

Author

Sameer D
December 19, 2024

Together with

Today’s topics

  • Bitcoin Hits $107K

  • Broadcom is having its "Nvidia moment"

  • Apple Ditches Broadcom

  • Trump Pledges to Abolish Daylight Saving Time

    and more…

Bitcoin Surges Past $107,000 Amid Strategic Reserve Speculations

On December 16, 2024, Bitcoin's value exceeded $107,000, driven by President-elect Donald Trump's proposal to establish a U.S. Bitcoin strategic reserve, akin to the strategic oil reserve. This announcement has invigorated investor enthusiasm, with Bitcoin's price reaching a session high of $107,148. Additionally, MicroStrategy's upcoming inclusion in the Nasdaq 100 is anticipated to attract further investment into the cryptocurrency sector.

MicroStrategy's Stock Surges with New Bitcoin Purchase and Nasdaq 100 Inclusion

MicroStrategy's stock jumped nearly 5% on Monday following the company's acquisition of an additional 15,350 bitcoins for $1.5 billion, bringing its total holdings to approximately 440,000 bitcoins. The surge was further fueled by the announcement of MicroStrategy's upcoming inclusion in the Nasdaq 100 index on December 23, reflecting the company's significant role in the cryptocurrency market.

Broadcom's Stock Surges Amid AI Growth Projections

Broadcom Inc.'s stock has experienced a significant surge, rising over 50% in December 2024, following a 24.4% increase on December 13, 2024. This rally is attributed to the company's robust AI strategy, with projections indicating a serviceable addressable market of $60 billion to $90 billion by fiscal 2027. Analysts draw parallels to Nvidia's previous market performance, highlighting Broadcom's potential in the AI semiconductor sector.

Apple to Replace Broadcom Chips with In-House Designs for Wi-Fi and Bluetooth

Apple plans to introduce its own chips for Bluetooth and Wi-Fi in devices starting in 2025, phasing out components currently supplied by Broadcom. The custom chip, code-named Proxima, has been in development for years and will debut in iPhones and smart home devices. Taiwan Semiconductor Manufacturing Company will handle production. This shift aligns with Apple's broader strategy to reduce reliance on third-party suppliers. Alongside Proxima, Apple is also developing cellular modem chips to replace Qualcomm components, with plans to integrate both systems in the future. In parallel, Apple is working on a server chip, internally called Baltra, to support AI processing, highlighting the company's efforts to reduce dependence on Nvidia's costly processors, which remain in high demand for AI applications.

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Trump Pledges to Abolish Daylight Saving Time

President-elect Donald Trump has announced plans to eliminate daylight saving time in the United States, describing the practice as inconvenient and costly. Implemented during World War II to maximize daylight hours, daylight saving time has faced periodic scrutiny. In 2022, the Senate unanimously passed the Sunshine Protection Act to make daylight saving time permanent, but the bill stalled in the House. Health experts, including the American Medical Association, advocate for permanent standard time, aligning better with human circadian rhythms. Currently, Arizona and Hawaii are the only states that do not observe daylight saving time.

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