The Practical Islamic Finance Podcast

🌟 The Best Market Recap: 12-06-2024 🌟

• Rakaan Kayali

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🌟 The Best Market Recap: 12-06-2024 🌟

In this episode, we will cover:

  • Intro & Market Records
  • Non-Farm Payrolls: What It Means
  • Bitcoin at $100K & Crypto Updates
  • Tesla’s Future with Robotaxi & Optimus
  • Bitdeer’s Unique Mining Advantage
  • Reflections on Syria & Global Optimism

CONTACT US
salam@practicalislamicfinance.com

ABOUT OUR PODCAST
Our podcast is about helping people ethically build wealth. We cover a broad range of topics including stock and crypto investing, product reviews, and general financial well-being.

DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your due diligence before making any investment decisions.

assalamu alaikum everyone I hope you are doing well what a time to be alive the s p hit a another record today bitcoin is at a hundred thousand and tesla continues to make record after record it's now the highest point for the stock in three years thank you ever for everyone for coming thank you for your kind words in the comments Most importantly, the Syrians are closer to being free, finally, and closer to having their own country where they have a say in their government. And I couldn't be more optimistic. Alhamdulillah, alhamdulillah. It's such a great time to be alive. All right, so what did we get today? We got the best report we could ask for for the economy. Non-farm payrolls today was at the Goldilocks zone. So it was beat expectations, but it wasn't too hot to threaten the possibility of an interest rate cut later this month. The unemployment rate was right at where forecasts put it. And so the probability for an interest rate cut later this month shot up to eighty seven percent. Risk assets, as I mentioned, have been doing great. Tesla was up five percent. I have to say, especially our picks, a bit they're up close to twenty five percent today. Iris Energy was up eight point seven six percent. And Bitcoin is at one hundred thousand. Dogecoin is at forty four cents. Solana is at two hundred and thirty eight dollars. Congratulations to all PI members. Congratulations to everyone who watches. And inshallah, you've made some money. don't forget to in these great times to give money to charity don't forget to purify your wealth today's jama so it's a great time to be doing that now speaking of probabilities will assad remain president of syria through you can see how the probability of that has dropped to just a coin toss as of most recent polymarket statistics. And in terms of odds of him out as president by March of twenty twenty five, those have risen to sixty five. As I mentioned, a great time for Syrians, a great time for Muslims, a great time for any free person in the world who values freedom and justice. Alhamdulillah. All right. So with regards to Tesla and why it is continuing on its massive run as of late. Tesla stock, as I mentioned, closed at the highest level in three years. This comes on the heels of a Bank of America analyst increasing their price target from three fifty to four hundred. And this was after an onsite visit that this analyst made to Tesla factory and experiencing full self-driving firsthand. He confirmed that there should be new models, lower cost models for Tesla coming out in twenty twenty five. And he also mentioned that Tesla plans to have about a thousand Optimus robots by the end of twenty twenty five working inside the factory. And that the full self-driving capabilities reinforce the timeline of having a Robotaxi in twenty twenty five. He also thinks that Optimus, their robots, will see increased production in twenty twenty six. So you have Robotaxi, Optimus. You also have the lower cost models for Tesla. So as I've been saying for weeks now, I really do think that Tesla stock is at an inflection point twenty twenty five. If you don't have a position, it's going to be hard to build one. So this is at least my assessment, not financial advice. Be sure to do your own due diligence. But that's my thinking as of now. Bitdeer stock that's up thirty percent today. We've already more than doubled our money there. And the thesis for this stock is playing out exactly as we said it would. The wrinkle for this particular Bitcoin miner is the fact that they are producing their own rigs. They're selling the picks and shovels in the Bitcoin gold rush, and they uniquely stand to profit from this Bitcoin gold rush in a way that other Bitcoin miners are simply not positioned to by selling the rigs that are mining the Bitcoins themselves. So their mining rig manufacturing and R&D update, this was the most important thing about their update that I found. So seal miner A-one mass production of approximately three point seven exahash of mining rigs is on track with point one exahash powered on point four delivered. and point three in transit to data centers, and two point six exahash in production. Their next model, SIL miner A two, secured wafer capacity as of this report is expected to generate approximately thirty five exahash up from the eighteen exahash that was previously predicted. initial allocation of thirty thousand units this is where it's really exciting seven x hash out of the thirty five x hash of seal miner a two is for external sale this has been fully reserved by customers they sold out already And so just as I predicted, demand for this is gonna be gangbusters and Bitdeer is in a great position to benefit from this. This allocation is subject to further increase depending on market conditions. They also have the HPC and artificial intelligence business They deployed an early batch of Nvidia H two hundreds. They're in discussions with multiple development partners and potential end users for selected sites. That's another catalyst for the stock potential catalyst hosting their hosting business. I think they should just get rid of it. Doesn't make any sense. And they have one point one gigawatts of new power capacity on track to come online in twenty twenty five. Remember the interview with the ISO seven GCO that I talked about a couple of days back talking about how the. Access to power is in the digital world. The need for this power is outpacing the ability to provide it in the physical world. Well, Bitdeer is in the business of providing it and stands to benefit from that imbalance of supply and demand. So all systems are go. And I know we've taken some profits and you're hungry for another pick. Insha'Allah, we will have many deep dives in the coming week. Insha'Allah. And so look out for that. If you're not a PIF member yet, become a PIF member. The link to do so is in the description. You get to follow our trades move for move. And I think it's paying off quite well for our members. All right, so let's go to question zero quick, and then I will let you guys go. Dr. Khaled says, As-salamu alaykum. Jazakallah khair for the continued advice. Well, it's my pleasure, Dr. Khaled. khalid ali says assalamu alaikum for the pif community it's my pleasure ali the muslim world has a financial gap and you're doing wonders to fill it well thank you so much for mentioning that uh can you share your thoughts on uber well I think uber is you know I wouldn't I wouldn't put money there I think they're they really need to make a move here because the writing's on the wall the current business as it exists uh will not last the next uh few years it's going to be massively disrupted so it needs to make a move quick uh hemi dear cool my shiwa alaikum salam to you as well my friend Off topic, any restaurant recommendations in Dallas? Check out Mr. O-One Pizza Shop in Dallas. Pizza restaurant, I should say, in Dallas. Amazing. I love it. Musa says, Assalamualaikum, brother. Waalaikumussalam, Musa. Do you think it's a good idea to mine Dogecoin or Litecoin, which has Dogecoin rewarded added since both are proof of work? I have to admit this. I once had a bunch of Dogecoin miners that I found on Amazon in the cart and my wife was like, what the heck is a Dogecoin miner and why are you about to buy them? So I ended up not buying them. But this was like a couple of years ago. But if you want to venture into mining it and letting me know what the economics are, I would be interested. So when are you going to Syria? Who knows? Allahu alam, Allah kareem, inshallah. But I do have plans, inshallah. Alhamdulillah. Alhamdulillah. Salam alaikum. Alaykum salam, Muhammad. Nice to see you. Nice to see you, Dr. Boss. Will Bitcoin mining companies bet their iron continue to appreciate higher and faster as Bitcoin continues? So I said this. I hate to say I told you so. I hate to be that guy, but I kind of told you so. December, I was going to see a Bitcoin mining run. And alhamdulillah, we have seen that. I do think that you'll never go broke taking profits. So that's what we've been doing. I won't be able to time the top exactly, but I'd rather be out before the top than after it. I like to sell into strength and get better prices than selling into weakness. And that's been our strategy. And alhamdulillah, I think we stuck to it and we've been disciplined. Salaam alaikum, do you think Solana ETF will be a good catalyst? Yes, potentially. Also looking forward to a Dogecoin ETF. A Dogecoin ETF makes a ton of sense. Make that happen. do you think iron has the potential to go up like bitdeer has recently so I showed you guys recently the valuation comparison between bitdeer and ios energy I thought uh the evaluation showed that bitdeer was close to in terms of uh expensiveness close to half of what um iris energy was and today it made up some of that ground so I still think that on evaluation Um, on a valuation perspective, a bit deer is valued better than from a valuation perspective, but there's valued better than IRS energy today. Assalamu alaikum and all on. Al says on the topic of Syria, it seems that there's a lot of confusion around what's actually going on. A lot of parties involved. Who are the good guys? The good guys are the Syrian people always stand with the Syrian people. Always stand in any conflict with the people. And I think when you do that, you will do well. Unless, of course, they're psychotic like Zionists are. Inshallah, Syria will be free soon. Inshallah. I'm confused. Are you saying buy Tesla now at this price or follow? So I'm not saying do anything because I don't give financial advice. These are just my musings that I share out loud. But I will say that if you have a longer term horizon, as I've been saying consistently, then Tesla is a good buy. If you have a short term horizon, then perhaps not. Salam regarding Bitdeer. If customers know A four is coming in less than a year, then why would they buy the A two, A three versions instead of just waiting for the A four to be released? Because there's no time to wait. Bitcoin mining is a cutthroat business. The hash rate is increasing all the time for the network. You have to remain competitive and remain and fight for the share of the hashing network as much as possible or else you can't catch up anymore. So as we saw with their orders, they're all out of what they plan to produce. So Bitcoin miners are continuously increasing their capacity for mining. and trying to maintain and increase their share in the hashing network as it becomes more and more, as that hashing network increases in size and becomes more and more competitive. There's no time to wait. What do you think about soon? Perhaps I'll look at it. Salam, brother. Thanks for all the effort. It's my pleasure, Shoaib. Thanks for coming. Love the community. Well, we're so glad to have you as well. Samer says, Salam alaikum. We need a session prior. for new position for new PIF members? Sure. Inshallah, we'll do that. Soundheld AI. I've heard of it a lot. Perhaps I'll take a look. Do you think Tesla will be capturing the vast Uber market too easily given that Uber does not need to make cars? their software will be replaced immediately by Tesla Robotaxi or what Tesla Robotaxi provides. And it doesn't have to worry about drivers and onboarding drivers. It's a simpler model. So unless Uber makes a change, then eventually they will go extinct just as they put the taxi's and made them extinct, it too runs the risk of becoming obsolete when Robotaxi goes online. It's not going to happen immediately because obviously there isn't going to be enough capacity to serve all of former Uber customers. So it will take time, but make no mistake, that is the trend. If someone does not have I don't make recommendations or buy below, sell above prices. I will tell you in case you're not a PIF member right now, BitDeal is not in our buy zone. So American, do you think it would be a good idea to sell all positions after some time, maybe a year? I think a good idea is what I'm doing. So follow our trades. I think you remember Khalid. So follow our trades. That's what I think is a good idea. uh but there is very hot now brother oh it's okay sorry um thanks uh for the welcome back if you enjoy uh this live uh do leave a like please and uh do leave a like and become a PIF member. Join our community if you aren't already. I think we're going to have a great twenty twenty five as well. I don't think the run is over. So make sure to join our community. And until next time, make sure to enjoy the times that we're in. Say Alhamdulillah. These are We've waited for this for so long. I couldn't be happier. I'm talking about Syria here, not talking about our investments, although that's a nice cherry on top. But the main thing is I can't believe that the people of Syria are inching closer and closer to freedom. I couldn't be happier. So alhamdulillah, alhamdulillah, alhamdulillah. And yeah, I love you all. Take care of yourself. Enjoy your weekend. Assalamualaikum and peace be upon you all.