The Bank for International Settlements (BIS) has announced that central banks can now hold up to two percent of their assets in cryptocurrency. However, the rule suggests that banks’ exposure to crypto assets must not exceed two percent and be generally lower than one percent, limiting rather than encouraging exposure. Nonetheless, this endorses global crypto banking rules and is considered bullish for the industry. Meanwhile, Tesla stock has fallen so much that it is now trading at a very cheap multiple, with the stock at its lowest PE in history. Despite concerns over Twitter noise and future growth, Morgan Stanley’s report cites the highest key metrics seen since November 2020.
The BIS Committee Endorses Global Crypto Banking Rules
The Bank of International Settlements, which functions as a central bank for central banks, has announced that central banks can now hold up to two percent of their assets in cryptocurrency. However, it is important to remember that this news is being framed in different ways on social media, so it is important to take this information with a grain of salt. The BIS committee has endorsed the implementation of global cryptocurrency rules that banks must adhere to by 2025. It is important to note that the BIS does not work with governments or corporations, but provides banking services solely to institutions such as the ECB and the Federal Reserve.
Tesla Stock: A Great Buying Opportunity
The author of the video then discusses a stock they find attractive: Tesla. The stock has fallen drastically this year and has created a great buying opportunity for investors. While the market can remain erratic, the stock is currently trading at a cheap multiple and has growth potential. The wait times for Tesla vehicles have decreased, which could increase demand, and the company plans to lower prices to sell more vehicles and software. Additionally, Tesla has new products coming to market, such as the Cybertruck and semi. Despite concerns about Elon Musk selling off stock, the author believes that the current valuation of Tesla makes it a great buying opportunity.