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Bitcoin & Extreme Weather | Flow Traders Investment Competition | Week 16


The stock market has overall gone down a little this week as the different important indexes closed around zero. The Dow Jones was the only one finishing positively at just 0.1% while the S&P500 and the NASDAQ respectively closed at -0.7% and -1.6%. This same mitigated finish was also felt in Europe where the AEX lost 0.07% while the CAC 40 increased by 0.9%. 


This week's main news came from Texas where extremely cold weather is leading to a humanitarian crisis. Due to freezing cold (from up to -18 degrees celsius) the gas in electricity centrals froze leading to a 48 hours electricity shortage for 4 million Texans. The energy shortages also impacted the water sanitation facilities leaving Texans without drinkable water. On top of that, the extreme temperatures have led to the explosion of some water canalizations cutting supply of water. The energy shortages made the wholesale electricity prices skyrocket, as they increased by 10,000%. 


As we have been used to in the past weeks the Bitcoin again broke it’s all time high at $57,000. This week's rally was fueled by Tesla’s decision to invest 1.5 billion dollars in Bitcoin in order to make it possible for customers to buy a Tesla with Bitcoins in the future. The move from institutional investors to Bitcoin seems to be also pushed by the belief that it will be able to hedge them against the luring inflation. 


Our beloved competition has once again proven to be of utmost interest. Fundamenta Fortis are still leading with an M2 of 17.37% which gives them an advance of 1.29% on Omega investments. Fortunately, there was change in the top as Merx joined the podium which makes us wonder if they will be able to challenge the two leaders. This week's biggest risers were Carhart investments and CMG investments that respectively finished at the 20th and 5th place. 

The second investment competition has been quite passive this week as no movement is to be witnessed. Aurelia is winning with an M2 of 8.49% and approaching the S&P 500 and its 9.28% M2. The ranking is closed by Æthelstan Investments that recorded an M2 of -4.6%. 


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