As bitcoin attempts its latest price rebound after a 40% slump in three days, its long-term potential as an investable asset is becoming linked inextricably to its cost for the rest of society.
Browsing: Elon Musk
The gamification of finance is a worrying trend, and it’s not just restricted to buying and HODLing digital currencies. By Mark Gilbert.
Elon Musk is again tweeting about technology and cryptocurrencies, and this time he’s clear on where his support is at.
The cryptocurrency market nursed its wounds on Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible US tax clampdown.
Bitcoin dropped to a three-month low on Monday in the wake of Elon Musk’s hinting over the weekend that Tesla is considering or may have already sold some of its bitcoin holdings.
Having earlier said Tesla would accept bitcoin as payment, Elon Musk this week reversed that position, stating cryptocurrencies’ “promising future cannot come at a great cost to the environment”.
Bitcoin was pinned near its lowest in more than two months on Friday, while dogecoin leapt by a fifth as tweets from Tesla boss Elon Musk sent the two cryptocurrencies on a wild ride.
The more Elon Musk blends payment U-turns, social media memes and stand-up comedy, the harder it will be to detect where the future of money ends and the “hustle” begins. Which might be the whole point.
Can you love bitcoin and the environment at the same time?
Tesla will no longer accept bitcoin for car purchases, CEO Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company’s position on the cryptocurrency.