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Nigeria Should Honour Rena Wakama, D’Tigress’ coach, And Invest More In Sports

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Now that the Olympic game is over, I want to use this opportunity to commend all the athletes and their coaches. It is a great honour to represent your nation, and a bigger one to do that in the Olympics. Sure, it is a disappointment that we did not bring any medal home, but that does not diminish the fact that these young people served the nation.

As a citizen of the Nigerian nation, I want to recommend to Mr. President to bestow a national honour on Rena Wakama, D’Tigress’ coach. Already, she has been recognized as the best coach of women’s basketball at the Paris 2024 Olympics, and Nigeria must cement her role. This woman demonstrated the power of leadership, coaching, mentoring, and inspiring the girls to over-achieve. Losing to the US women basketball does not diminish that accomplishment.

For all of us, you do not win the Olympics in a day. Those who will participate for China and USA in 2036 in certain games are already in the camp. It requires planning which for years now we have struggled with.  Except Edo, Delta and Lagos, do we still have a working sports council in Nigeria? The days of Chioma Ajunwa, David Izonritei, Mary Onyali, Olabisi Afolabi, Fatima Yusuf, and many others happened, not because we recruited them from American colleges, but because Nigeria had a functioning sports council system in our state capitals.

But over time, these athletes were left to fund themselves with no support, and the results are here.  This must change; sports is a career and even though they do not have Nigeria Labour Congress (NLC), Academic Staff Union of Universities (ASUU), etc to do strikes for better facilities and support, Nigerians must call these politicians to lead.

Bitcoin Price Drops Below $59k Amid Liquidations Across The Crypto Market

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The price of Bitcoin has dropped below the $59k price amid $155.25 million in liquidations across the crypto market.

According to on-chain analytics platform, the price decline is reported to be spurred after institutional investors halted their accumulation of stablecoins over the past two days.

Onchain wrote,

“Institutions seem to have temporarily stopped buying, and the price of $BTC dropped 4.5% today! We noticed that institutions stopped receiving $USDT from #TetherTreasury and transferring it to exchanges 2 days ago”.

Data from CoinGecko revealed that the broader crypto market declined by 4.32% over the past 24 hours, reducing its total value to $2.05 trillion. After holding above the $60,000 level for four consecutive days, Bitcoin fell below this threshold on Aug. 11, 2024, dipping to $58,234 as of the time of writing this report. Ethereum (ETH) also saw a decline, dropping to $2,527 after peaking at $2,711 earlier. At the time of writing, ETH was trading at $2,583.

Bitcoin price decline is coming after the crypto asset last week resumed its upward rally after experiencing a massive decline due to a global market sell-off. Bitcoin led the liquidations with $41.31 million, followed closely by Ethereum, which saw $39.53 million in liquidations.

As the crypto market conditions remain volatile, with the U.S. presidential elections in the corner, and a looming threat of recession, the BTC price will be shaken to the limit. However, the bottom formation at $50K promises solid support with a trendline confluence. 

Despite recent fluctuations in the cryptocurrency market, several analysts have maintained their bullish stance on the price of crypto assets. Michael Saylor, executive chairman of MicroStrategy, has expressed optimism about Bitcoin’s future.

At the Bitcoin 2024 conference, he projected that Bitcoin would continue to surge, with the price reaching $13 million by 2045. Saylor believes that Bitcoin has “economic immortality” because it doesn’t degrade like physical assets and can address economic challenges due to its permanent and unchangeable nature. His optimistic projections have positively impacted BTC’s price, fueling investors’ enthusiasm.

Also, analysts from Grayscale Research predict potential price increases in the coming months. They believe that broader crypto assets valuations could recover if the U.S. economy manages to achieve a “soft landing” and avert a recession, with Bitcoin possibly approaching its all-time high later in the year.

Notably, this year, institutional investors have increased their appetite in the market driving up sentiments. The launch of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) has led to major investments within the industry.

Is MicroStrategy Stock Beating Bitcoin?

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In the dynamic world of finance, MicroStrategy Incorporated has made headlines with its unconventional strategy of heavily investing in Bitcoin. This approach has sparked a debate among investors and analysts alike, as the company’s stock performance seems to be closely tied to the volatile cryptocurrency market.

MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services, has taken a bold step by integrating Bitcoin into its treasury reserves. The decision to convert a significant portion of its cash reserves into Bitcoin has been a game-changer for the company’s stock performance. Despite the inherent risks associated with cryptocurrency investments, MicroStrategy’s stock has shown resilience and even outperformed Bitcoin at times.

The company’s CEO, Michael Saylor, is a well-known proponent of Bitcoin, advocating for its potential as a store of value and an inflation hedge. Under his leadership, MicroStrategy has amassed a substantial Bitcoin portfolio, making it one of the largest corporate holders of the cryptocurrency. This strategic move has not only increased the company’s visibility in the crypto space but also attracted investors who are bullish on Bitcoin.

MicroStrategy’s stock performance has been a rollercoaster ride, with significant fluctuations that mirror the volatility of Bitcoin’s price. The company’s shares have experienced sharp increases during Bitcoin’s bull runs and faced declines during market downturns. However, the overall trend suggests that MicroStrategy’s Bitcoin investment has positively influenced its market valuation.

As of the latest data, MicroStrategy’s stock price has seen fluctuations, with a recent price recorded at $135.37. On the other hand, Bitcoin, the pioneering cryptocurrency, has been performing with its own volatility, with a current value of 1 BTC to USD 60,215.00.

When it comes to “beating” in the financial sense, it often refers to the returns on investment over a specific period. MicroStrategy’s approach to integrating Bitcoin into its treasury reserve strategy has been a notable factor in its stock performance. The company’s stock has experienced various changes in value, reflecting the volatile nature of the cryptocurrency market it is tied to. Meanwhile, Bitcoin’s performance also sees ups and downs, influenced by market sentiments, global economic factors, and regulatory news.

The company’s financial results reflect the impact of its Bitcoin holdings. MicroStrategy’s revenue and net income have been affected by the fluctuating value of its digital asset portfolio. The company’s approach to Bitcoin as an investment and its commitment to acquiring more of the cryptocurrency with excess cash or through capital raising transactions has been a clear statement of its belief in Bitcoin’s long-term value.

MicroStrategy’s stock split, a strategic move to make its shares more accessible to a broader range of investors, has also played a role in its stock performance. The split-adjusted basis trading has provided an opportunity for more investors to participate in the company’s growth, potentially leading to increased demand and higher stock prices.

The relationship between MicroStrategy’s stock and Bitcoin is a testament to the growing acceptance of cryptocurrencies as a legitimate asset class. As Bitcoin continues to gain mainstream adoption, companies like MicroStrategy that have embraced it may benefit from the increased interest and investment in the crypto market.

MicroStrategy’s decision to invest heavily in Bitcoin has been a significant factor in its stock performance. While this strategy carries risks due to the volatility of the cryptocurrency market, it has also provided opportunities for growth and has positioned the company as a pioneer in corporate cryptocurrency adoption. As the financial landscape evolves, MicroStrategy’s Bitcoin play will continue to be a topic of interest and analysis for investors and industry observers alike.

Atlanta Fed’s GDPNow Projects US GDP growing 2.9% in Q3

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The Atlanta Federal Reserve’s GDPNow model projects a 2.9% growth in the US gross domestic product (GDP) for the third quarter of 2024. This forecast, updated on August 6, reflects an increase from the 2.5% prediction made on August 1. The GDPNow model is a valuable tool for providing real-time “nowcasts” of the US’s economic growth, utilizing a methodology akin to that of the US Bureau of Economic Analysis (BEA).

Gross Domestic Product (GDP) growth is a crucial indicator of economic health, reflecting the total value of goods and services produced over a specific time period within a country. The rate of GDP growth is a measure of economic dynamism and an essential gauge for policymakers, investors, and economists. Several factors contribute to GDP growth, which can be broadly categorized into demand-side and supply-side elements.

The model’s estimates are based solely on objective mathematical results, without any subjective adjustments, ensuring a data-driven outlook on the economy’s performance. It’s important to note that the GDPNow forecast is not an official forecast of the Atlanta Fed but rather a running estimate based on available economic data for the current measured quarter.

The primary engine of economic growth, consumer spending, accounts for a significant portion of GDP. When consumers are confident and have disposable income, they tend to spend more, stimulating production and services. Investment: Business investments in capital goods, technology, and infrastructure fuel economic growth by enhancing productive capacity and efficiency.

Government Spending: Public sector expenditures on infrastructure, education, and defense can stimulate economic activity and drive growth. Net Exports: A positive balance of trade, where exports exceed imports, contributes to GDP growth as it signifies a higher demand for a country’s goods and services globally.

It’s important to note that these factors are interrelated and often influence each other. For instance, technological advancements can lead to new product development, which can boost consumer spending and investment. Similarly, a skilled labor force can attract business investments, leading to job creation and increased consumer spending.

Economic growth is a complex phenomenon influenced by a myriad of factors, both domestic and international. Understanding these drivers is essential for formulating effective economic policies and strategies for sustainable development.

The recent uptick in the GDPNow forecast can be attributed to the latest data releases from the US Bureau of Labor Statistics, the US Census Bureau, the US Bureau of Economic Analysis, and the Institute for Supply Management. These releases have led to an increase in the nowcasts for third quarter real personal consumption expenditures growth—from 2.6% to 3.0%—and for third quarter real gross private domestic investment growth—from 1.6% to 2.8%.

The recent adjustment in the GDP growth estimate by the Atlanta Fed’s GDPNow model underscores the dynamic nature of economic forecasting. It highlights the importance of staying informed with the most current data to understand the trajectory of the economy. The increase to 2.9% is a modest yet encouraging indicator that the US economy is on a path of growth amidst the global economic landscape of 2024.

The GDPNow model’s utility lies in its timeliness, offering an early estimate of economic growth that can inform policymakers, investors, and the public ahead of official GDP figures. As we await further updates, which are scheduled for release on August 8, stakeholders will be keenly observing any shifts in the economic indicators that could influence the trajectory of the US economy in the latter half of 2024.

MBA Application Tips From Professionals

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Getting to business school is not easy, and there are often many question marks along the way. This year, the MBA application process could be even more daunting as the programs continue to reposition themselves in the wake of global events such as the pandemic. If you need assistance, work with a reliable essay writing service. As you prepare for your MBA application process, here are the top tips and tricks to guide you.

  • Take Your Academics Seriously

Remember, the MBA is an academic process. This is why you should pay particular attention to academic performance, for the admissions committees most definitely will. If your undergraduate GPA or grades in individual quantitative classes are not good, then it is advisable to do the course again. Search for accounting, statistics, or any introductory finance course in a nearby community college or from reliable sources on the internet. Ensure that the class provides you with a grade so that you can attach the transcript to your application.

While some schools have adopted ‘test optional’ policies today, it is not well known how long the policy will remain in practice. In addition, many companies hire post-MBA recruits, including consulting and finance firms, which require test scores from their candidates. Ideally, one should come prepared with not only a score but the highest possible score to demonstrate one’s analytical skills.

  • Don’t Wait and Apply Now

If you are fully committed or you are still hesitating to earn your MBA, apply for admission now. Applying earlier will be less constricting and, depending on the round you are applying in, will also give you a better chance of getting into your dream school. Suppose you’re admitted to your program of choice. In that case, you may not be required to enroll in classes immediately. For instance, in most MBA Programs, admitted students can start their programs the next year after they have organized their career, financial, and personal issues.

  • Meet the Early Deadline Where Possible

If you are applying for the Top 15 MBA programs, then it is in your best interest to apply early. Because of the stiff competition witnessed in the MBA admission process, most of the leading business schools receive a lot of strong applications, and as such, the acceptance rate for the later rounds is considerably low.

If your selected MBA program has more than one round for application, try as much as possible to submit your application before the first or second round deadline. Since more students enroll in school, merit-based scholarship funds are reduced. The longer you wait for the application, the lesser your opportunity of being awarded the scholarship. All MBA Program applicants are considered for academic scholarships, but the money is disbursed as the funds are available.

  • Be Authentic

When you write your personal statement and answer in the video component of the application, there is no need to be a novelist or a comedian – simply be yourself. Respond to the stated questions in the simplest way possible and tell the truth. Your statement and the video essay, if necessary, should be unique for each of the schools that you are applying to. MBA admissions decide, based on both the requirements, whether or not the program will be beneficial for your career plan and whether or not you will be able to contribute positively to fellow MBA students. If you are not sure how to write your application, buy essay papers from professionals.

  • Choose Recommenders Wisely

If an MBA program needs two letters, attempt to have both from professional organizations. At least one should be from the current immediate supervisor or manager of the employee. If this is impossible, then the best option is the former supervisor in the organization. Other options are an indirect manager or another employee of the organization.

Recommendations should be professional and, if possible, from current and/or former managers, which is why business schools require them. Ensure that you get recommendations from people who know you well instead of going for “autographs” from executive officers who may have only met you occasionally. Letters of recommendation from former professors, family friends, and relatives are generally not recommended for an MBA.

  • Know Your “Why”

This is a point where applying for an MBA differs from most other master’s degrees. Aside from proving that you are academically and professionally qualified, you also have to convince the adcom that you have clear career goals in the long term and how an MBA would be useful in achieving these goals.

  • Be Fluid on Your ‘How’

It can be quite a delicate proposition, but take all of what I said immediately above this and introduce a measure of elasticity into the equation. Be prepared for the fact that your career might change its course more than once. For instance, it is possible that the school that you have always wanted to attend since your childhood does not have the recruiting connections, teaching methods, or scholarship programs that are suitable for your current situation. Do not reject other chances that may be suitable for you just because they are not what you had in mind in the first place.

  • Seek Reliable Advice

People’s opinions are one thing; professional knowledge is quite another. While seeking admissions in the best MBA schools, seek advice from those with experience with the admission process. Current MBA students or alumni are always the best sources of information about the business school and its relevance in career advancement. If you do not know any of the other schools, request the schools to introduce you to the other schools. In the admission process, believe those who have sat around the decision-making table. Only they know what it takes to create the best applications for you as the end user.

An MBA is one of the few things in life that can enrich the mind, fast-track your career, and help you find your soul. As this information shows, getting there requires effort and planning. However, with the right information and the right community around you, you can get your ‘how’ and your ‘why’ on the way to your admission ‘YES’.

It is not enough that you have good scores on the GMAT and a good GPA —admissions committees in business schools also need to know who you are and why you should be admitted to a school. Your MBA essays are thus your last opportunity to market the person beyond the résumé. They should sum up all the components of your business school application and paint a clear picture of yourself, your achievements, and your potential.