Day July 22, 2024

Lyft has struggled to keep pace with Uber, but recent earnings show promising growth, including a 28% rise in revenue and a major 250% year-over-year increase in its media segment. To compete, Lyft is focusing on its new advertising arm, Lyft Media, which uses in-app and in-car ads to target riders, projecting revenue to rise from $50 million to $400 million by 2027. While Lyft’s net income remains just out of reach, its healthy cash reserves and potential 4% net margin by 2027 signal a possible turnaround, even as Uber continues to dominate the rideshare space.

With the recent approval of spot Bitcoin ETFs, Wall Street analysts predict a substantial surge in Bitcoin's price, with forecasts ranging from $200,000 by 2025 to as high as $3.8 million by 2030. Major hedge funds, including Citadel Advisors and Millennium Management, are shifting from AI-centric investments like Nvidia to Bitcoin ETFs, which offer easier access and lower transaction costs for institutional investors. This anticipated demand from institutional players could drive Bitcoin’s value sharply upward, particularly if large asset managers allocate even a small portion of their portfolios to Bitcoin ETFs.