BXBX NOVEL Chapter 84 The Crash
Chapter 84 The Crash
As Michael walked through the aisles between the assembly lines, he observed the precise movements of both the human workers and the automated systems working in tandem. He stopped beside one of the assembly lines to watch as a panel moved from one stage to the next, each component being meticulously assembled. It was a moment of pride for Michael, seeing that the solar panel is not being made in the Virtual World but in the real world.
Today is just the test run to see if the factory is ready for production of the solar panels that will be introduced to the market. There are already distributors lining up, eager to partner with SolaraTech, recognizing the innovation and potential market impact of these high-efficiency panels.
In a span of the day, 10,000 A4-sized panels were produced as part of the test run, a significant achievement that demonstrated the factory\'s capability to handle large-scale production efficiently. The seamless operation from the initial assembly to the final quality check indicated that the production line was well-prepared for the official launch.
But before he could focus on his solar panel business, Michael received news from his smartphone. Michael\'s smartphone buzzed with notifications, pulling his attention away from the factory floor\'s successful test run. Glancing at the screen, he saw a flood of headlines and alerts all pointing to one major development: the cryptocurrency market was in turmoil.
Headline: "Crypto Market Crashes: Billions Wiped Out Overnight"
As he tapped on the notification, a live news feed from a financial news network appeared, where an anchor with a grave expression was speaking. n/o/vel/b//in dot c//om
"Good evening, we\'re coming to you with breaking news. The cryptocurrency market is experiencing a massive downturn, with major digital currencies like Bitcoin, Ethereum, and others plunging by double-digit percentages in just a few hours. This sudden crash has wiped out billions of dollars in market value, leaving investors and the tech world reeling."
The screen split to show graphs and charts illustrating the steep decline, with red arrows pointing downwards, signaling the severe losses across the board.
Anchor: "To discuss this unprecedented event, we have financial analysts with us. Can you explain what\'s triggering this crash?"
Analyst: "Certainly. A combination of factors is at play here. Regulatory crackdowns in several countries, rumors of major investors liquidating their positions, and panic selling among the general populace have created a perfect storm. It\'s a volatile market, and confidence has been severely shaken."
The broadcast then cut to footage of trading floors and cryptocurrency exchanges, where the atmosphere was tense, with traders and investors glued to their screens, watching as the numbers continued to fall.
Anchor: "What could this mean for the future of cryptocurrency?"
Analyst: "It\'s a major setback. Recovery will depend on regulatory clarity and the ability of the market to stabilize itself. But for now, uncertainty reigns."
As Michael continued to watch, the feed shifted to show reactions from people online. Social media platforms were ablaze with commentary, ranging from disbelief and anger to schadenfreude from those who had always been skeptical of cryptocurrency\'s long-term viability.
Online User 1: "Just lost my savings in this crash. Thought crypto was the future. #cryptocrash"
Online User 2: "I warned y\'all. The bubble has burst. #toldyouso"
Online User 3: "This isn\'t the end of crypto. Markets recover, and so will this. #HODL"
The varied responses highlighted the polarizing nature of cryptocurrency, a sector known for its wild swings and speculative fervor. For every devastated investor, there seemed to be another holding out hope for a rebound.
But Michael already analyzed the market, the cryptocurrency will take years to recover and stabilize. He understood that this crash wasn\'t just a blip on the radar; it was a significant event…for Michael.
"Time to cash in," Michael muttered under his breath. He contacted every bank where he purchased CDS against cryptocurrency-related investments, ready to initiate the process to capitalize on the market downturn.
"Hello, this is Michael Reyes," Michael spoke over the phone. "The cryptocurrency market\'s current volatility and the substantial losses we\'re witnessing have activated the conditions of our credit default swap agreements," Michael explained to a bank representative over the phone. "As per our agreement, the significant drop below the threshold we established necessitates a payout to hedge the losses incurred."
The bank representatives, already swamped with calls and concerns from countless investors caught off-guard by the crash, acknowledged the validity of Michael\'s claims. The foresight Michael had shown in securing these financial instruments was now paying off, highlighting his acumen in navigating the unpredictable waters of the financial markets.
"The contracts were clear on the conditions and the associated risks. We\'re prepared to proceed with the payouts as stipulated," a representative from one of the major banks finally conceded after reviewing Michael\'s documentation and the market conditions.
As the day progressed, Michael secured agreements for the payouts from the banks. And his net worth just grew to 1.5 billion dollars. Of course, it was not all his, half of it would go to Bridget, the one who sponsored the monthly premiums for the credit default swaps. "Thank you for your cooperation," Michael said as he concluded another call with a bank representative. He couldn\'t help but feel a sense of satisfaction. His careful planning and risk assessment had paid off significantly. Michael dialed Bridget\'s number, the screen lighting up as the call connected. He waited for a few rings before she answered, her voice coming through clear on the line.
"Michael, I\'ve been expecting your call," Bridget said, cutting straight to the chase. "I assume you\'ve seen the news about the crypto market?"
"Yes, I have," Michael replied, getting straight to the point. "And as you might have guessed, our positions paid off. The banks are ready to proceed with the payouts as per our credit default swap agreements."
There was a moment of silence on the line as the weight of their financial windfall settled. Then Bridget\'s voice broke the silence, her tone a mix of satisfaction and anticipation.
"I already heard the news, Michael. And I trust you remember our agreement. Half of that payout belongs to me," she stated firmly.
"Of course, Bridget. I haven\'t forgotten," Michael assured her. "Your foresight to sponsor the premiums for the CDS was crucial. You\'ll get your share, as we agreed. Half of the net worth increase, which amounts to around 750 million dollars, will be transferred to your accounts."
Bridget\'s response was measured, her business acumen always at the forefront. "Good. I\'ll be expecting the transfer details by the end of the day. Also, how is the solar panel going?"
"It\'s going well, we are starting our dry run at the SM North Edsa on August 15th, 2024."
"I see."