A quick roundup of some news that might be affecting the markets this week:
The U.S. Senate Committee on Homeland Security and Governmental Affairs (HSGAC) is set to begin a hearing at 3.00 p.m. EST today on the virtual currency and its price is at a staggering high. Price is also being driven up optimism about today’s hearing, the closure of Silk Road (apparently you could by real drugs on a real website with this virtual curency), and its growing popularity in China. To be honest, still can’t quit wrap my head around a bitcoin.
Stocks edge toward new milestones (CNNMoney)
DOW and S&P 500 are edging to new records after last week’s strong performance.
Snapchat’s $3 Billion Rejection and the Great Facebook Unbundling (Bloomberg BusinessWeek)
Evan Spiegel is an idiot for turning down $3B for a product that no revenue model whatsoever at the moment. But, it’s popularity (especially as a mobile only network) and inability for Facebook to capture it points out some issues Facebook needs to contend with.
Apple is apparently likely to buy PrimeSense for $345M. The company is a 3D sensor specialist that helped build the first Kinect sensor. This could have interesting uses in the upcoming Apple TV.