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Cryptoland: Bitcoin gets all the attention, but what about the thousands of other cryptocurrencies?

Cryptoland: Bitcoin gets all the attention, but what about the thousands of other cryptocurrencies?

So far Bitcoin is having a decent 2021. The cryptocurrency hit a record high of more than $41,500 last week, continuing the upward trajectory it has been on since April of last year, when a single Bitcoin cost less than $5,000. That rise now means that the sum of all Bitcoin in existence is theoretically worth more than $600bn — although that number is usually up or down a few billion depending on when you refresh the web page.

Because Bitcoin dominates much of the media attention, it can be easy to forget just how many other cryptocurrencies there are. A quick look through the full list from coinmarketcap reveals no fewer than 120 cryptocurrencies with a "market cap" of more than $100m - each hoping that their unique take on the core blockchain technology will be enough to propel them out of obscurity.

In some cases you can't help but think someone is having a joke, or even peddling something a little more nefarious. Going further down the list there is a "dogecoin" a "YEP COIN" and even one called "PancakeSwap" (???).

This time it's... different?

Are some of the most dangerous words for any investor to believe wholeheartedly. Whether this latest Bitcoin rally proves more resilient than the previous highs is yet to be seen. Even in the last few days Bitcoin has shed ~15% of its value, reminding people that it is certainly not (yet) a reliable store of value.

The long-term upside case for Bitcoin also remains, at the very least, somewhat anarchic. If the end goal is to become the currency of use for the entire planet then something probably has to go disastrously wrong with the institutions behind our current system — government backed fiat currency. That's a bold bet to make.

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Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy. 

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

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Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: smile, make eye contact, and greet or wave when a shopper comes within 10 feet — and if they get closer, within four feet, ask whether they need help or how their day is going, according to a new Bloomberg report.

Dubbed the 10-4 program internally, the rule mirrors rival Walmarts own 10-foot policy, formalizing behavior Target had previously only encouraged.

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Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

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