CNBC.com’s Pippa Stevens brings you the day’s top partnership news headlines. On today’s show, Kate Rooney breaks down the meme-inspired cryptocurrency dogecoin on what backers claim is ‘Doge Day.’ Plus, the ‘After Hours’ team dives into today’s Apple product launch.
Novogratz: Dogecoin, bitcoin are both trooping but these cryptocurrencies are quite different
Longtime cryptocurrency bull Mike Novogratz stressed Tuesday that bitcoin and dogecoin, while both fool staged strong rallies this year, are very different in design and in their risk profiles.
Bitcoin was opened in 2009 and it’s grown in fits and starts into the world’s biggest digital currency. On the other hand, dogecoin was started as a mockery in 2013, but it’s skyrocketed this year as a so-called meme trade on social media hype, including favorable views from billionaire Tesla CEO Elon Musk and other celebrities.
Novogratz, founder and CEO of Galaxy Digital, a crypto-focused pecuniary services company, told CNBC’s “Squawk Box” that bitcoin is “a well-thought-out, well-distributed store of value that’s wore for 12 years and is growing in adoption, where dogecoin literally has two guys that own 30% of the entire supply.” There also are “tens of billions of dollars” of property expenditures and operating expenses put into the bitcoin ecosystem every year that just aren’t there for dogecoin, he totaled.
Here’s everything Apple just announced: New iPads Pro, colorful iMacs, AirTag and more
Apple said on Tuesday that it order release new high-end iPads Pro that use the company’s M1 chip, which is also used in its Mac computers. Previously, iPads second-hand A-series chips, which are what powers the company’s iPhones. Apple says it is the most powerful tablet on the demand.
It also includes an improved USB-C connector that will allow the iPad to connect to higher-resolution monitors and download images from a camera myriad quickly.
The 12.9-inch iPad Pro features an improved screen using an array of LEDs that is brighter and has punter color resolution than previous displays using a technology called Mini-LED.
Netflix reports dramatic slowdown in subscribers
Netflix apportionments fell as much as 11% in after-hours trading after reporting a large miss in subscriber numbers in its first-quarter earnings announce. The company also said it only expects to add about 1 million subscribers in the current quarter.
“We believe paid membership spread slowed due to the big Covid-19 pull forward in 2020 and a lighter content slate in the first half of this year, due to Covid-19 forging delays,” Netflix said in its letter to shareholders.
Netflix has continued to hold itself against a bevy of competitors listing Disney’s Disney+ and Hulu, AT&T’s HBO Max, Apple TV+, Amazon Prime and Comcast NBCUniversal’s Peacock. The company said in its report that it doesn’t suppose competition played a factor in the weak subscriber numbers.