Are MPs Now Good News for Bitcoin? Maybe those who trade stocks. A new disclosure has revealed that the market’s major outperformer, Nancy Pelosi, made new large technical trades, amounting to approximately $2.1 million.
This revelation shook many traders on Monday. Financier Paul Pelosi, husband of US House Speaker Nancy Pelosi, made major purchases of Apple call options (between $750,000 and $1.5 million) and Microsoft call options (between $300,000 and $600,00) on May 24.
The timing of Pelosi trades (this includes both the legislator and her husband) has been described as impeccable or “very impeccable” on various occasions.
On the one hand, Congressional trading’s high earnings during 2021 raised doubts about potential insider trading, and many call for the activity to be restricted to lawmakers, feeling that the disclosures are not enough and the information is available to politicians. The reason may be Congress’s unfair edge in trades. before the general public.
On the other hand, Pelosi’s famous stock trading outperformance has led to traders searching for ‘Pelosi stock trades’ on Google for some time now. The search hit a record high in January, Reuters reported. Naturally, these have turned to Congressional trading as an indicator of the market’s future.
Just hours after the disclosure was published, Apple announced the new M2 chip, marking the beginning of the “second generation of M-series chips,” which come to improve the M1 with better features and performance. Later, Apple Inc. The stock outperformed its peers, rising 0.52% to $146.14.
At the moment, things are looking gloomy for the crypto market, but does Pelosi know of anything that could mean that Big Tech stocks and bitcoin may soon catch a break?
The M2 announcement didn’t help the general skepticism about Pelosi’s business. Twitter users had a lot to say. Although the FDA does not report to Congress, some believe that lawmakers can further find out about important announcements from Big Tech companies through their applications for FDA certifications and other regulatory approvals.
— Nev (@RookieBowHunts) 7 June 2022
some twitter users called That “impeccable time”:
“Nancy Pelosi’s trading is just supernatural. She literally bought the bottom of the NASDAQ on May 24th $AAPL And $msft Call. I mean… she’s 82, still trading a better option than a stronghold running on a dedicated $300m mainframe computer. Bingo or bridge, it’s not.”
The same person also believed that “Nancy and other successful Congress traders are the last bastion to keep the market high over time. He pointed out that after the Fed Board imposed restrictions on trading, bonds and markets collapsed. “Show me the encouragement, and I’ll show you the results,” he wrote, quoting Charlie Munger.
The Stock Act bill is meant to prevent insider trading from members of Congress. For this reason, lawmakers must disclose all stock transactions (including those of their family members) within 45 days. However, considering the continued performance of MPs, many feel that this is not enough.
stock act”Delay info,” tweeted another user. “If we can see their trades in real time, we can really level the playing field. I am willing to keep up with insider-trading and create immediate reporting.,
For many traders, it is not so much about the lawmakers being able to use the information gathered to trade, but about the unfair edge it gives them. Some investors just want a better chance at improving those bottoms, rather than simply banning lawmakers from trading.
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What about bitcoin?
This is Pelosi’s sixth transaction report to disclose trades in Apple and other large tech stocks during 2022 alone. Presumably, these trades not only have “good luck” with the bottoms, but are also expected to outperform the markets.
If so, the correlation between bitcoin and tech stocks could be a big draw to keep in mind. Many analysts have not given up on their $100k bitcoin target, they are just waiting for the bear market to end. Whether that target holds true in the same year or not, we can see that the digital coin follows the trails of Pelosi’s oracle trading.
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