Could there be a new exchange-traded fund (ETF) that invests in just the cryptocurrency Bitcoin (CRYPTO: BTC)? That’s certainly what it’s looking like. Until recently, regulatory authorities around the world have been reluctant to allow listed ETFs to invest in cryptocurrencies like Bitcoin. This can probably be put down to Bitcoin’s decentralisation. As well as its lack of regulatory structure and its famous (or infamous) volatility.

Our own ASX does not currently have any kind of ETF that is approved for cryptocurrency assets. And China has banned Bitcoin entirely. But according to a report in today’s Australian Financial Review (AFR), the waters could be changing.

According to the report, Cathie Wood’s ARK Invest funds management company has filed to list a bitcoin ETF product. This product has the tentative name of ARK 21Shares Bitcoin ETF and will aim to trade under the ticker code ‘ARKB’ on the US share markets. It would reportedly track the pure performance of Bitcoin as measured by the S&P Bitcoin Index and would hold Bitcoin assets itself.

An ARK Bitcoin ETF?

Eric Balchunas, ETF analyst for Bloomberg Intelligence, told the AFR the following on the proposal:

This makes a lot of sense because Cathie is on the board of 21Shares, which is a big progressive crypto issuer in Europe… This gives 21Shares penetration in the US and it’s on-brand for Ark given how vocal and bullish they’ve been on crypto.

For anyone who follows ARK Invest, this move would come as no surprise. ARK and its CIO Cathie Wood have long been vocal about their Bitcoin bullishness. Ms Wood has floated a long-term price target of US$500,000 for the cryptocurrency and has invested a significant proportion of ARK’s funds into Bitcoin linked assets in the past.

But ARK is most famous for its high-growth ETFs that are already available on the US share markets. ARK’s flagship ETF is the ARK Innovation Fund (NYSE: ARKK). This ETF invests in growth companies like Tesla Inc (NASDAQ: TSLA), Square Inc (NYSE: SQ) and Zoom Video Communications Inc (NASDAQ: ZM). The Fool recently looked at some of the other ARK ETFs available, and the types of companies they invest in.

So it will be interesting to see how this latest ARK Invest foray into Bitcoin turns out. Who knows, we might even see a Dogecoin (CRYPTO: DOGE) ETF one day.

The post Cathie Wood’s ARK Invest to launch Bitcoin ETF appeared first on The Motley Fool Australia.

More reading

• Investing in Bitcoin? How to avoid these 2 costly pitfalls
• What are meme coins, and can they make you rich?
• $4.7 billion of Bitcoin still missing in alleged mass fraud
• Cryptocurrency values plunged this past week. Should you change your investing strategy?
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak

Motley Fool contributor Sebastian Bowen owns shares of Tesla, Zoom, Square and Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin, Square, Tesla, and Zoom Video Communications. The Motley Fool Australia has recommended Zoom Video Communications. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Noxopharm Ltd (ASX: NOX) are gaining today following the company’s announcement of a notice of allowance for an important European patent.

At the time of writing, the Noxopharm share price is 64 cents – 7.56% higher than its previous close.

Let’s take a closer look today’s release from the drug development company.

Possible European patent

Noxopharm announced it’s received a notice of allowance on a key patent for its first pipeline drug candidate Veyonda.

According to Noxopharm, it’s a positive sign the European Patient Office will likely grant the patent.

Currently, Veyonda is in phase 2 of clinical trialling. Noxopharm hopes Veyonda will prove to be a useful cancer treatment.

If granted, the patent will relate to the use of idronoxil, the active ingredient in Veyonda. The patent will cover a formulation designed to provide a steady-state blood level of the drug.

It will also see Noxopharm with enforceable rights to idronoxil for another 16 years.

Veyonda is expected to treat any type of cancer and be given to patients undergoing chemotherapy or radiotherapy.

According to Noxopharm, if granted, the European patent will be a good sign the drug is likely to be patented in other important territories, like the United States.

Commentary from management

Noxopharm’s CEO Graham Kelly commented on the notice of allowance, saying:

This allowance is very pleasing validation of our strategy of building a strong IP position around Veyonda based on a series of inter-connected patents. The interconnection is between method of administration and clinical use and removes the reliance on the strength of any single patent.

A granted patent also will help underpin our commercial aim of Veyonda becoming a standard of care drug in combination with other major forms of cancer therapy.

Noxopharm share price snapshot

The Noxopharm share price has been performing well lately.

It’s currently 30% higher than it was at the start of 2021. It’s also gained 265% since this time last year.

The company has a market capitalisation of around $184 million, with approximately 288 million shares outstanding.

The post The Noxopharm (ASX:NOX) share price is soaring 7% appeared first on The Motley Fool Australia.

More reading

• Noxopharm (ASX:NOX) share price edges lower after clinical trial update
• Why the Noxopharm (ASX:NOX) share price is charging higher again
• Why the Noxopharm share price rocketed 22% today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Westpac Banking Corp (ASX: WBC) share price has risen by 30% in 2021 so far. Is the major ASX bank a buy today?

What has been happening recently?

Westpac shares peaked at almost $27 earlier in June, but it has been drifting lower over the last couple of weeks.

Business divestment announcements have been the main news out of the company in the last week.

It announced that it’s retaining all of its Westpac New Zealand business and it won’t demerge it. Westpac called it a strong business and it’s committed to continue delivering for customers. The bank believed that a demerger would not be in the interests of shareholders.

The bank also said that it’s selling its motor vehicle dealer finance and novated leasing businesses to Angle Finance.

Westpac will transfer its auto dealer and introducer agreements together with wholesale dealer loans of approximately $1 billion, it will transfer the strategic alliance agreements with vehicle manufacturers and novated lease origination capability and related agreements.

The major bank will retain its existing retail auto loans of around $10 billion originated by the businesses being transferred.

Those loans will run down in the normal course of business over the life of those loans. Westpac will also progressively cease new retail auto loan originations from these three channels with customers still able to see the group’s consumer and business lending products to help buy motor vehicles. 

Management said that the sale is subject to the final value of the portfolio transferred and will generate an accounting gain on sale. It is expected to add around 6 basis points to Westpac’s common equity tier 1 capital ratio.

The broker Ord Minnett said that the sale was decent, but it doesn’t make much of a difference compared to a large entity like Westpac.

Is the Westpac share price a buy?

Ord Minnett currently rates the bank as a hold with a price target of $27.50.

The latest insight into Westpac’s financial returns was the FY21 half-year result where it saw statutory net profit grow 189% to $3.4 billion and cash earnings go up 256% to $3.5 billion. Excluding notable items, cash earnings increased 60% to $3.8 billion.

Westpac said it’s making good progress on strategic priorities of fixing, simplifying and performing.

The bank’s plan to address financial and non-financial risk governance has been approved. The first assurance report has been released. It has also increased its resources in risk and financial crime teams.

It also has a three-year plan to reduce its cost base to $8 billion by FY24.

The bank said that it has a strong balance sheet, higher capital ratio, good margin management and improved credit quality metrics.

One broker that does rate Westpac as a buy is Morgan Stanley. This broker has a price target on Westpac of $29.20. According to Morgan Stanley, the current Westpac share price is valued at 16x FY21’s estimated earnings with a forecast FY21 grossed-up dividend yield of 6.5%.

The post Is the Westpac (ASX:WBC) share price a buy? appeared first on The Motley Fool Australia.

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• Why analysts rate Westpac (ASX:WBC) and this dividend share as buys
• Westpac’s (ASX:WBC) double life insurance divestment looms

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Brainchip Holdings Ltd (ASX: BRN) share price is trading lower today.

In afternoon trade, the artificial intelligence technology company’s shares are down by 5.33% to 50 cents.

Putting a few chips in the back pocket

It appears investors are today taking a leaf out of co-founder Peter Van Der Made’s book as he sold down his Brainchip shares last week.

The interim chief and co-founder reduced his holdings by selling a total of 2.57 million shares at an average price of 54 cents. The sale netted Van Der Made a total of $1.39 million dollars.

According to the disclosure, Van Der Made continues to hold a significant holding of some 173.7 million shares in the company, worth about $86.85 million at the current Brainchip share price.

Despite the sale, the co-founder remains Brainchip’s largest shareholder with a 10.6% stake in the company.

Investors might be concerned about the sale, considering the company is yet to appoint a new chief executive officer. Previous CEO Louis DiNardo suddenly exited Brainchip back in March by mutual agreement.

The silence is deafening

Shareholders rarely look fondly on insiders selling. Especially when there has been a lack of announcements from the company regarding its Akida chip more recently.

In the past year, ASX-listed Brainchip reported US$26.8 million in losses. This is due to the company still awaiting production completion and sales.

Meanwhile, Van Der Made has not been the only insider taking some money off the table. Co-founder and chief development officer Anil Mankar sold $9.55 million worth of Brainchip shares back in April.

Despite the sell downs, the company insists it is on track to produce its ultra-low power edge-computing processor.

Brainchip share price recap

Brainchip shares have weakened since March, falling 34% from a high of 75 cents. But it’s not all doom and gloom — the company’s shares are still up a staggering 534% over the last year.

However, it has been a subdued 2021 for the chip developer. Much of the market is now patiently awaiting production and revenue. Until then, the Brainchip share price offers little more information for investors to speculate over.

The post Brainchip (ASX: BRN) share price weakens after co-founder sells shares appeared first on The Motley Fool Australia.

More reading

• The Noxopharm (ASX:NOX) share price is soaring 7%
• Is the Westpac (ASX:WBC) share price a buy?
• Why Collins Foods, Genworth Mortgage Insurance, Kathmandu, & ResMed are sinking
• Why this expert thinks commodities are about to rally again
• ASX construction shares like Brickworks (ASX:BKW) are falling today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is on course to record a reasonably disappointing decline on Tuesday. In afternoon trade, the benchmark index is down 0.4% to 7,276.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is down 5% to $12.06 following the release of its full year results. The KFC-focused quick service restaurant operator’s shares hit a record high in early trade before sinking. In FY 2021, Collins Foods reported a 12.4% increase in revenue to $1.07 billion and an 18.2% increase in underlying net profit after tax from continuing operations to $56.9 million. The latter was ahead of the expectations of Wilsons but still not enough to stop its shares from falling.

Genworth Mortgage Insurance Australia Ltd (ASX: GMA)

The Genworth Mortgage Insurance share price has crashed 15% lower to $2.16. This morning the mortgage insurance company was dealt a blow when Commonwealth Bank of Australia (ASX: CBA) advised that it intends to issue a request for proposal relating to its Lenders Mortgage Insurance requirements. Genworth has provided this to CBA for over 50 years, with its current deal contributing more than half of its gross written premiums.

Kathmandu Holdings Ltd (ASX: KMD)

The Kathmandu share price has fallen 3.5% to $1.43. Investors have been selling the adventure retailer’s shares after it warned that COVID-19 lockdowns would lead to it falling short of expectations in FY 2021. Kathmandu estimates that the current lockdowns will hit its earnings by NZ$13 million.

ResMed Inc (ASX: RMD)

The ResMed share price is down 2% to $32.00. The catalyst for this decline appears to be a broker note out of Citi this morning. According to the note, the broker has downgraded the medical device company’s shares to a neutral rating with an improved price target of $32.50. Citi made the move on valuation grounds after a strong gain in June following a competitor product recall.

The post Why Collins Foods, Genworth Mortgage Insurance, Kathmandu, & ResMed are sinking appeared first on The Motley Fool Australia.

More reading

• ResMed (ASX:RMD) share price tumbles on broker downgrade
• ASX 200 down 0.9%: Big four banks drop, Metcash charges higher
• Genworth (ASX:GMA) share price dives 17% after CBA contract update
• Collins Foods (ASX:CKF) share price hits record high after reporting strong FY 2021 growth
• Kathmandu (ASX:KMD) share price on watch after COVID lockdowns hit sales

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Collins Foods Limited and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Apprehension is creeping back into the market but this could be the time to be buying ASX resources shares as commodity prices are set to rally.

The bullish near-term outlook for hard commodities and energy was forecasted by Citigroup.

The prediction comes at a time when the BHP Group Ltd (ASX: BHP) share price, South32 Ltd (ASX: S32) share price and Woodside Petroleum Limited (ASX: WPL) share price have pulled back from their recent highs.

Commodity price and ASX mining shares disconnected

You can tell investors are getting jittery. Shares of ASX miners are being sold-off even on days when commodity prices jump.

Today’s one example as the Fortescue Metals Group Limited (ASX: FMG) share price and Rio Tinto Limited (ASX: RIO) share price are on the back foot. This is despite the iron ore price gaining 0.5% to around US$215 a tonne.

Investors don’t believe the good times will last and are reluctant to bid up ASX mining shares. Rising interest rates and the risk of runaway inflation are keeping buyers at bay.

Commodities could rebound in 2HCY21

But history is on the side of commodity bulls, according to Citigroup.

“Commodities naturally sell-off in recessions but rebound rapidly as economies recover,” said the broker. “The deeper the recession the stronger the recovery tends to be.”

Citi looked at recessions from the early 1990s and believes that commodities should continue to perform, if not outperform, in the second half of this calendar year. This is in part due to COVID-19 stimulus being unleashed to aid the economic recovery.

“We examine the performance of key US$ asset classes during the 6 [month] periods following global recessions,” said Citi.

“Notably, commodities outperformed equities, rates and credit indices on average, while the macro-sensitive industrial metals and energy complexes were the best-performing sectors within commodities during recoveries.”

ASX energy shares set to power up

Oil also outperforms and Citi noted a positive correlation between oil demand growth and GDP growth. The relationship is accentuated during “V-shaped” economic recoveries.

“Given the outsized weight of crude oil in commodity benchmarks and the energy intensity of mining and ag production, higher oil prices can accentuate a broader commodities rebound via cost inflation,” added Citi.

“Investor flows also improve substantially exiting steep recessions. In 2H’09, net inflows totalled ~$82Bn, including ~$42Bn to energy.

“This is consistent with the pattern we have seen YTD, where energy leads in sector performance and accounts for over half of the net inflows.”

Oil and copper look most bullish

The Brent oil price looks particularly well placed to rally, in the broker’s opinion. It also expects buyers to step in to buy the dip for copper.

If Citi is on the money, ASX energy and mining shares could outperform through to the end of this calendar year, if not beyond.

The post Why this expert thinks commodities are about to rally again appeared first on The Motley Fool Australia.

More reading

• BHP (ASX:BHP) announces first deal in thermal coal selloff
• 5 things to watch on the ASX 200 on Tuesday
• Oil hits 3-year high! How are ASX energy shares reacting?
• Here are 3 of the most actively traded ASX 200 shares today
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak

Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited, Fortescue Metals Group Limited, Rio Tinto Ltd and South32 Ltd. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is not having a great trading day so far. At the time of writing, the ASX 200 is down 0.56% to 7,266 points.

One sector joining the malaise is ASX construction and building materials shares. They’re down across the board.

Take Brickworks Ltd (ASX: BKW). This company has retreated from its all-time high of $24.99 a share that we saw yesterday and is down 0.24% today to $24.70 a share.

It’s not alone either. CSR Limited (ASX: CSR) is down a hefty 2.2% today. James Hardie Industries plc (ASX: JHX) has lost 1.4% to $45.16 a share. And Boral Limited (ASX: BLD) is down 0.2% to $7.32 a share.

So what’s going on here? Well, an article in The Australian points to a possible catalyst. According to the report, the Australian building industry is in the midst of a “severe shortage of timber”. A fall in domestic timber production thanks to the Black Summer bushfires, coupled with a global supply squeeze, is to blame.

Reportedly, timber prices have risen “three to fourfold” in the US. This is resulting in the US market “sucking timber from around the world”.

Got wood? That’s what ASX construction shares are wondering

A report from the ABC corroborates this story. According to the national broadcaster, the South Australian construction industry is feeling a particularly acute shortfall in timber supplies, leading to calls for more supply to be unlocked.

The report tells us Masters Builders South Australia has called for both immediate and long-term solutions. Here’s some of what association chief executive Will Frogley told the ABC:

We’ve got a situation here where we’ve got record [timber] demand, record high building approvals because of the massive popularity of the federal government’s HomeBuilder Grant… The price of timber has gone up 400 per cent in the last year in America … and that’s really hurting supply.

If timber prices remain so elevated, it could obviously have the potential to damage the construction industry. As such, it could be a reason why ASX construction shares have come off the boil today.

The post ASX construction shares like Brickworks (ASX:BKW) are falling today appeared first on The Motley Fool Australia.

More reading

• ASX 200 down 0.9%: Big four banks drop, Metcash charges higher
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 flat, e-commerce ASX shares soar, Metcash rises
• Oil hits 3-year high! How are ASX energy shares reacting?
• Here are 3 of the most actively traded ASX 200 shares today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Over the last five years, the Telstra Corporation Ltd (ASX: TLS) share price has thoroughly underperformed the Australian share market.

During this time, the telco giant’s shares have lost a disappointing 36% of their value.

As a comparison, the S&P/ASX 200 Index (ASX: XJO) has gained 38% during the same period. Both figures exclude dividends.

The tides are changing

However, the good news for shareholders is that 2021 has been very different for the Telstra share price.

In fact, the tides are now changing, and it is the Telstra share price that is outperforming the ASX 200. Since the start of the year, the company’s shares have risen 18%, compared to a gain of 9% by the ASX 200.

Why is the Telstra share price outperforming in 2021?

The catalyst for the Telstra share price rise in 2021 has been its significantly improved outlook and the belief that its dividend cuts are now over. This is due to the early success of its T22 strategy, its leadership position in 5G, asset monetisation plans, and rational competition in the telco industry.

Things are looking so positive that management is now talking about returning to growth again after years of declines.

In February, Telstra’s CEO, Andy Penn commented: “After a decade of disruption following the creation of the nbn, and with its rollout now declared complete, we can clearly see the path to underlying growth ahead of us.”

“Our investment in innovation and technology, digitisation and networks, improving our customer experience and being disciplined in our capital management, mean that at the start of this decade, as Australia digitises its economy, Telstra is in a strong position to grow,” he added.

Should you buy Telstra shares for its dividend yield?

Analysts at Goldman Sachs believe that Telstra would be a good option for income investors.

Earlier this month, the broker retained its buy rating and $4.00 price target on the company’s shares.

The broker also continues to expect fully franked dividends of 16 cents per share through to FY 2023, before a long-awaited increase to 18 cents per share in FY 2024. Based on the current Telstra share price of $3.57, this will mean annual yields of 4.5% until FY 2023 and then 5% thereafter.

The post Should you buy Telstra (ASX:TLS) shares for its dividend yield? appeared first on The Motley Fool Australia.

More reading

• Temple & Webster share price surges with other ASX COVID winners
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak
• Brokers name 2 ASX dividend shares to buy
• Is the Telstra (ASX:TLS) share price still good value?
• Here are 3 of the most heavily traded ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Bitcoin (CRYPTO: BTC) is edging higher, up 0.4% over the past 24 hours to US$34,659 (AU$45,604). That still leaves the world’s biggest token a long way off its mid-April record high of US$64,829.

Ethereum (CRYPTO: ETH) is having a stronger run, up 7.8% in 24 hours to US$2,126. That also remains well below Ether’s own mid-May record high of US$4,382.

Yet the recent falls don’t appear to be dissuading millions of retail investors from buying – or intending to buy – cryptocurrencies.

In fact, a recent survey conducted by cryptocurrency exchange Kraken and YouGov revealed 40% of Aussie millennials plan to invest in crypto assets as a way to save for a home.

And it’s not just Australians. According to Chainalysis, even gold-hungry Indians are snapping up crypto, with some US$40 billion worth of crypto investment over the past year.

With interest in Bitcoin, Ether and other cryptos showing no signs of abating, the Motley Fool reached out to Leigh Travers, CEO of blockchain consulting and development services company Digitalx Ltd (ASX: DCC), for his unique insight.

How China’s crackdown is long-term bullish for Bitcoin

You’ve likely heard about China’s crackdown on Bitcoin mining, along with the ban on Chinese financial institutions facilitating crypto transactions.

With 65% of global Bitcoin mining taking place in China in 2020, the crackdown has fuelled the price falls of the world’s biggest cryptos.

However, Travers told the Motley Fool he sees this as a short-term issue. In fact, he thinks Bitcoin and Ether are likely to come out better for it:

Our view on the two biggest risks for Bitcoin at the start of the year was China dominance in the market, as well as ESG (environmental, social, and corporate governance) headlines about carbon usage of Bitcoin mining.

The current short-term exodus of Bitcoin miners and Bitcoin traders out of China is absolutely long-term bullish. China had a significant percentage of Bitcoin miners that were powered by coal. That’s particularly true during their summer, as in winter it’s more hydro.

Travers points out that with Bitcoin miners fleeing Chinese soil, more activity is heading elsewhere in Asia and to the US state of Texas, with a greater percentage of renewable energy in the mix.

“To see how quickly both of these key risks are being reduced is giving us a significant increase in confidence for the long-term outlook for Bitcoin and the digital asset sector,” Travers told us. He added:

As Bitcoin moves towards a more renewable energy mix, and as Ether transitions towards a security model that utilises 99% less energy, the ESG concerns fade and some of the positive elements of ESG that digital asset markets provide will become evident.

El Salvador adopting Bitcoin as legal tender is one example of this, Travers said. He noted that financial inclusion in the Latin American country is only around 30%.

“A digital wallet that enables access to markets that have governance frameworks programmed is a positive opportunity for many,” he said.

Avoid these 2 big crypto pitfalls

While some crypto investors have made fortunes, others have lost some or all of the money they invested.

We asked Travers about the most common scam used to part would-be Bitcoin investors from their hard-earned money. He said:

Any direct emails from private cryptocurrency investment funds must be avoided. There are zero licensed private retail investment fund products in Australia, or the world, from my knowledge. At best they are offering you an unlicensed investment product. At worst, it could be a scam.

Travers also stressed never to invest more than you feel comfortable with:

The sector is highly volatile. If you haven’t done any research and the investment size is too large, you’re much more likely to be a seller when prices drop. If you have a strong investment thesis and your investment is sized appropriately, it is much easier to hold for your investment time horizon.

The best 3 cryptos to buy

We rounded off our questions by asking Travers which digital tokens he believes may outperform. He said:

Bitcoin and Ether are the digital assets experiencing the most institutional growth and really should be considered first before any other digital assets. We are seeing some incredible growth from Uniswap over the past 6 months, so that’s another that we like.

Uniswap (CRYPTO: UNI) is currently trading for US$18.30, up 8.0% in the past 24 hours.

According to CoinMarketCap, Uniswap is “a popular decentralised trading protocol, known for its role in facilitating automated trading of decentralised finance (DeFi) tokens”.

The post Investing in Bitcoin? How to avoid these 2 costly pitfalls appeared first on The Motley Fool Australia.

More reading

• What are meme coins, and can they make you rich?
• $4.7 billion of Bitcoin still missing in alleged mass fraud
• Cryptocurrency values plunged this past week. Should you change your investing strategy?
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak
• This crypto blew away Bitcoin’s 5% gains today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Independent oil and gas producer Santos Ltd (ASX: STO) has today launched the front-end engineering and design (FEED) phase for its Dorado project, located off the coast of Western Australia.

At the time of writing, the Santos share price is 1.24% in the red, currently trading at $7.16 per share.

What did Santos say?

Dorado is an integrated oil and gas project located in the Bedout Sub-basin, which is planned for 2 exploration and production phases. Santos has an 80% stake in the project and is also an operator, sharing the interest with Carnarvon Petroleum

Phase 1 of the project includes the production of oil and condensate through a floating production, storage and offloading facility (FPSO) and has an estimated cost of ~$2 billion.

Following a competitive phase amongst top-tier contractors, the tenders for the FPSO design are currently being finalised and are expected to be assigned over the next few months.

In today’s statement, Santos chief executive office Kevin Gallagher said:

Entering FEED for the Dorado project is a significant milestone and has the project on schedule for a final investment decision around mid-2022.

Dorado is on track to be the first development in the Bedout Sub-basin, with its high-quality
reservoirs and shallow-water setting, making it a very cost-competitive project globally.

The company is also seeking interest from market participants in non-operated equity interests in Dorado and other potential WA oil assets.

In the same release, Gallagher also commented on the potential of the project:

Potential nearby tie-in opportunities, starting with the Pavo and Apus prospects to be drilled early next year, could be easily tied-back into the Dorado infrastructure and materially increase the value of the project, due to the very low cost of development.

Santos share price snapshot

The Santos share price is down 1.24% intraday following the release, and is also in the red 3.5% over the previous 5 days at the time of writing.

Santos shares have climbed more than 11% year-to-date with a major jump from $6.77–$7.73 from 31 May–4 June, before pulling back to today’s level.

At a current share price of $7.16, Santos has a market capitalisation of $15 billion, and trades at a price-to-earnings ratio (P/E) of 12.84.

The post Santos (ASX:STO) share price sinks despite project update appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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