CNBC.com’s Pippa Stevens offers you the best news for business of the day. In today’s program, Kate Rooney breaks down the meme-inspired cryptocurrency dogecoin on what fans claim is ‘Dog Day’. On top of that, the ‘After Hours’ team dives into today’s Apple launch.
Novogratz: Dogecoin, bitcoin both go together, but these cryptocurrencies are completely different
Longtime cryptocurrency bull Mike Novogratz stressed on Tuesday that bitcoin and dogecoin, both of which have offered strong rallies this year, differ greatly in design and risk profiles.
Bitcoin was launched in 2009 and is starting to fit into the world’s largest digital currency. On the other hand, dogecoin was started as a joke in 2013, but this year it soared as a so-called meme trade on social media, including favorable comments from billionaire Tesla CEO Elon Musk and other celebrities.
Novogratz, founder and CEO of Galaxy Digital, a crypto-focused financial services company, told CNBC’s “Squawk Box” that bitcoin is a well-thought-out, well-distributed value store that lasts 12 years and is growing in adoption. , where dogecoin literally has two guys who own 30% of the total offering. “Tens of billions of dollars a year are also put into capital expenditure and operating expenditure in the bitcoin ecosystem, which is just not for dogecoin,” he added.
Here’s everything Apple has just announced: new iPads Pro, colorful iMacs, AirTag and more
Apple said Tuesday that they are releasing new high-end iPads Pro that use the company’s M1 chip, which is also used in its Mac computers. Previously, iPads used A-series chips, which drive the iPhones of the company. Apple says it is the most powerful tablet on the market.
It also includes an enhanced USB-C connection that allows the iPad to connect to higher resolution monitors and download faster images from a camera.
The 12.9-inch iPad Pro has an enhanced screen with a range of LEDs that are brighter and have better color resolution than previous screens with a technology called Mini-LED.
Netflix reports dramatic slowdown in subscribers
After-hours, Netflix shares fell 11% after showing a big drop in numbers in its first-quarter earnings report. The company also said it would add only about 1 million subscribers in the current quarter.
“We believe that the growth in paid membership has slowed due to the large Covid-19 move forward in 2020 and a lighter content ladder in the first half of this year due to the delays in Covid-19 production,” Netflix said in its letter to shareholders.
Netflix has continued to hold its own against a host of competitors, including Disney + and Hulu, AT & T’s HBO Max, Apple TV +, Amazon Prime and Comcast NBCUniversal’s Peacock. The company said in its report that it does not believe that competition plays a role in the weak number of subscribers.