In July 2022, the annual inflation rate in the UK reached 10.1 percent, a new 40-year high that was far higher than analysts had predicted. Additionally, there is growing evidence that the Bank of England will continue its aggressive tightening policy to limit rising prices.
In the second quarter, the three biggest US publicly traded Bitcoin mining companies (Core Scientific, Marathon Digital Holdings, and Riot Blockchain) suffered losses of more than $1 billion. This comes as a result of the massive decline in crypto prices.
Michael Burry, a well-known hedge fund manager who predicted the 2008 crash, sold most of his stocks beside one. He invested in the private prison operator GEO Group, buying over 500,000 shares of the company.