Bitcoin Hits High of $19,850 As Doubters Become Believers
By Avi Salzman
Mon, Nov 30, 2020 12:40am
2 min
2 min
Bitcoin soared to an all-time high on Monday, hitting US$19,850 in the morning before again slipping below US$19,500 by the afternoon.
It has nearly doubled in just the past two months. The cryptocurrency has been boosted by a flurry of endorsements from traditional investors, favourable government policies, and expanded access on investment apps, as Barron’s noted this weekend.
Even traditional investors who had long spurned or ignored Bitcoin have begun reconsidering. New buyers tend to view the digital asset as a hedge against currency devaluation at a time when governments have loosened monetary policy to deal with the coronavirus. It doesn’t bother many bulls that Bitcoin remains mostly useless as a currency. Its role as an asset appears to be enough.
Scott Minerd, the global chief investment officer at Guggenheim, appears to be warming to Bitcoin. The Guggenheim Macro Opportunities Fund (ticker: GIOAX), with more than $5 billion in assets under management, said in a regulatory filing that it may invest up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC), a stock-like security that tracks the price of Bitcoin.
Bernstein analyst Inigo Fraser-Jenkins, co-head of the portfolio strategy team, wrote on Monday: “I have changed my mind about Bitcoin’s role in asset allocation. In January 2018 we declared that it had no such role. But actually, maybe we have to admit it does. What has changed is the policy environment, debt levels and diversification options for investors post the pandemic.”
One reason that analysts are changing their minds about Bitcoin is that it may serve to balance portfolio exposure for some investors. Stocks are trading at high valuations, so it makes sense to hedge exposure to them. But bonds and Treasuries have also rallied, and are trading with such low yields that there’s not much reward for the risk that investors are taking on.
Gold has also risen in recent months and is trading near a 50-year high relative valuation to other commodities, according to Jim Paulsen, the chief investment strategist at the Leuthold Group.
Paulsen recommended on Monday that clients consider Bitcoin as a way to balance their portfolios. He is impressed with how uncorrelated it has been to other assets — both stocks and things like bonds and gold. “The thing is, Bitcoin has risks, but today, so do most of the other balanced portfolio alternatives,” he wrote.
He explained more in a follow-up email to Barron’s.
“I still don’t really understand what drives Bitcoin but I am finally willing to recognize that its short history yields some beneficial attributes which I can’t find elsewhere,” Paulsen wrote. “And, unlike other balance possibilities, I am not looking to ‘buy and hold’ Bitcoin (would need to understand it better to do that), but rather looking to exploit its excessive volume in order to improve the workings of a traditional balanced portfolio in a way which is not possible if utilizing only traditional assets. My point essentially is that I am not really attracted per se to Bitcoin fundamentally, but rather only its ‘interactive’ character (including its unique excessive volatility) with stocks and other traditional assets.”
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The lunar flyby would be the deepest humans have traveled in space in decades.
By Micah Maidenberg
Mon, Mar 30, 2026 4 min
4 min
It’s go time for the highest-stakes mission at NASA in more than 50 years.
On April 1, the agency is set to launch four astronauts around the moon, the deepest human spaceflight since the final Apollo lunar landing in 1972.
The launch window for Artemis II , as the mission is called, opens at 6:24 p.m. ET.
National Aeronautics and Space Administration teams have been preparing the vehicles to depart from Florida’s Kennedy Space Center on the planned roughly 10-day trip. Crew members have trained for years for this moment.
Reid Wiseman, the NASA astronaut serving as mission commander, said he doesn’t fear taking the voyage. A widower, he does worry at times about what he is putting his daughters through.
“I could have a very comfortable life for them,” Wiseman said in an interview last September.
“But I’m also a human, and I see the spirit in their eyes that is burning in my soul too. And so we’ve just got to never stop going.”
Wiseman’s crewmates on Artemis II are NASA’s Victor Glover and Christina Koch, as well as Canadian Space Agency astronaut Jeremy Hansen.
What are the goals for Artemis II?
The biggest one: Safely fly the crew on vehicles that have never carried astronauts before.
The towering Space Launch System rocket has the job of lofting a vehicle called Orion into space and on its way to the moon.
Orion is designed to carry the crew around the moon and back. Myriad systems on the ship—life support, communications, navigation—will be tested with the astronauts on board.
SLS and Orion don’t have much flight experience. The vehicles last flew in 2022, when the agency completed its uncrewed Artemis I mission .
How is the mission expected to unfold?
Artemis II will begin when SLS takes off from a launchpad in Florida with Orion stacked on top of it.
The so-called upper stage of SLS will later separate from the main part of the rocket with Orion attached, and use its engine to set up the latter vehicle for a push to the moon.
After Orion separates from the upper stage, it will conduct what is called a translunar injection—the engine firing that commits Orion to soaring out to the moon. It will fly to the moon over the course of a few days and travel around its far side.
Orion will face a tough return home after speeding through space. As it hits Earth’s atmosphere, Orion will be flying at 25,000 miles an hour and face temperatures of 5,000 degrees as it slows down. The capsule is designed to land under parachutes in the Pacific Ocean, not far from San Diego.
Is it possible Artemis II will be delayed?
Yes.
For safety reasons, the agency won’t launch if certain tough weather conditions roll through the Cape Canaveral, Fla., area. Delays caused by technical problems are possible, too. NASA has other dates identified for the mission if it doesn’t begin April 1.
Who are the astronauts flying on Artemis II?
The crew will be led by Wiseman, a retired Navy pilot who completed military deployments before joining NASA’s astronaut corps. He traveled to the International Space Station in 2014.
Two other astronauts will represent NASA during the mission: Glover, an experienced Navy pilot, and Koch, who began her career as an electrical engineer for the agency and once spent a year at a research station in the South Pole. Both have traveled to the space station before.
Hansen is a military pilot who joined Canada’s astronaut corps in 2009. He will be making his first trip to space.
Koch’s participation in Artemis II will mark the first time a woman has flown beyond orbits near Earth. Glover and Hansen will be the first African-American and non-American astronauts, respectively, to do the same.
What will the astronauts do during the flight?
The astronauts will evaluate how Orion flies, practice emergency procedures and capture images of the far side of the moon for scientific and exploration purposes (they may become the first humans to see parts of the far side of the lunar surface). Health-tracking projects of the astronauts are designed to inform future missions.
Those efforts will play out in Orion’s crew module, which has about two minivans worth of living area.
On board, the astronauts will spend about 30 minutes a day exercising, using a device that allows them to do dead lifts, rowing and more. Sleep will come in eight-hour stretches in hammocks.
There is a custom-made warmer for meals, with beef brisket and veggie quiche on the menu.
Each astronaut is permitted two flavored beverages a day, including coffee. The crew will hold one hourlong shared meal each day.
The Universal Waste Management System—that’s the toilet—uses air flow to pull fluid and solid waste away into containers.
What happens after Artemis II?
Assuming it goes well, NASA will march on to Artemis III, scheduled for next year. During that operation, NASA plans to launch Orion with crew members on board and have the ship practice docking with lunar-lander vehicles that Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin have been developing. The rendezvous operations will occur relatively close to Earth.
NASA hopes that its contractors and the agency itself are ready to attempt one or more lunar landing missions in 2028. Many current and former spaceflight officials are skeptical that timeline is feasible.
