The CPI knowledge is in, and inflation is formally starting to chill down … however auto insurance coverage is up 22% year-over-year.
One in all my associates confirmed me his newest premium assertion, and it was up over $400.
That’s not good.
Based on Bryant College Arithmetic Professor Rick Gorvett, a Fellow of the Casualty Actuarial Society, the current spike was attributable to a “good storm” of things.
He discusses just a few of the elements that led to those larger charges — the cyclical nature of the insurance coverage enterprise, provide chain points, elevated car restore prices, social inflation and driving habits.
If you happen to’ve ever been on the I-95 in Florida … I’m certain you’ve witnessed that final issue.
However what can we do?
The reply may, in reality, be crypto…
Or in different phrases: blockchain know-how.
Take a look at at the moment’s video, by which we discover why inflation is cooling, what Financial institution of America has to say about it … and a doable hedge towards auto insurance coverage.
Word: For much more crypto information, keep tuned after the video for a big replace on Ethereum (ETH)!
(Or learn the transcript right here.)
Scorching Matters in Immediately’s Video:
- Market Information: April inflation knowledge is in! For the primary time in six months, inflation is starting to chill and decelerate the economic system. However a key a part of the equation is within the newest CPI knowledge. [1:37]
- Tech Developments: This “DePin” crypto platform creates a rewards factors system in your automobile utilizing blockchain know-how, and might even assist offset your auto insurance coverage prices. [7:10]
- Crypto Nook: JPMorgan, and doubtlessly different banks, are going to make use of cryptocurrency to “reinvent the plumbing” of the monetary system. Right here’s how… [13:30]
- Investing Alternative: If you wish to dive deeper into crypto investing, think about becoming a member of my readers in my service devoted to all issues crypto: Subsequent Wave Crypto Fortunes.
Extra Edge: NEW Ethereum ETF on the Manner!
In much more thrilling crypto information, the worth of Ethereum (ETH) shot up about 22% over the past 24 hours!
The crypto began to maneuver up on Monday within the late afternoon, after some encouraging information relating to potential Ethereum ETF approvals.
A number of firms filed a 19b-4 with the Securities and Trade Fee (SEC) late final 12 months and earlier this 12 months so as to apply for a spot Ethereum ETF.
However the SEC reacted “lukewarm” to those filings, in comparison with the way it actively reacted to filings and engaged with firms for a bitcoin ETF earlier this 12 months.
For this reason analysts at Bloomberg solely anticipated a 25% probability that an Ethereum ETF could be authorized.
All that modified yesterday, when the SEC out of the blue requested revised 19b-4 filings from these firms by 10 a.m. Tuesday (this morning).
This transfer reveals that the SEC could be altering its thoughts a couple of spot Ethereum ETF, and an approval may come as early as Wednesday.
Analysts at Bloomberg have now raised their expectations of an ETF approval to a 75% probability.
Bear in mind how bitcoin’s (BTC) worth shot up after the SEC authorized 11 bitcoin ETFs again in January?
Effectively, an Ethereum ETF approval would doubtless be nice information for the worth of Ethereum.
Bitcoin began the 12 months within the $44,000 vary, and rallied with buzz across the ETF approvals.
It then skyrocketed to an all-time excessive of $73,700 simply a few months after approval.
Customary Chartered Financial institution, which has a worth goal of $150,000 for bitcoin by the tip of the 12 months, mentioned it has a worth goal of $8,000 for Ethereum by the tip of 2024 if its ETFs are authorized.
Not solely is that this thrilling information for Ethereum, however it’s additionally prime time for us as buyers.
Cryptocurrency is without doubt one of the largest alternatives this 12 months, and never solely in Ethereum…
Bitcoin’s fourth halving simply accomplished in April. It represents a key second in crypto.
Identical to the rise of AI and tech firms like Nvidia are additionally elevating the share costs of different AI-related shares, bitcoin’s halving will do the identical for different choose cryptocurrencies.
Or in different phrases: “A rising trip lifts all boats.”
Which means bitcoin just isn’t the one crypto that can profit from this halving cycle.
In actual fact, I’ve already pinpointed three cash which are able to soar…
Go right here to be taught extra about these cash, and how one can make investments at the moment.
Till subsequent time,
Ian King
Editor, Strategic Fortunes
