It’s certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin.
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Volkswagen’s boss, Herbert Diess, is realistic about the threat posed by software-savvy and richly valued rivals such as Tesla, but he’s adamant that VW can prevail. On current form, he may be right.
Just like Samsung has an edge over Apple with its superior smartphone display, there is one area where VW may be ahead of Tesla: The German car maker has placed a big bet on next-generation lithium-ion batteries.
Tesla added “Technoking of Tesla” to billionaire CEO Elon Musk’s list of official titles on Monday in a formal regulatory filing that also named finance chief Zachary Kirkhorn “Master of Coin”.
While Volkswagen is one of the largest car producers, it’s now pitted against companies that have routinely disrupted industries, casting former leaders aside in the process.
Tesla surged nearly 20% on Tuesday, rebounding from a deep selloff with its largest daily gain in a year after data showed an increase in China sales and an analyst raised his rating on the stock.
Shares of Tesla closed lower for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $277-billion off the company’s market value over the last month.
Elon Musk is getting into the Texas power market, with previously unrevealed construction of a gigantic battery connected to an ailing electric grid that nearly collapsed last month.
BMW has a message for Apple: Bring it on! Chief financial officer Nicolas Peter said he is undaunted by reports that the world’s most valuable company could enter the car business.
Promoted | It’s no secret that cryptocurrencies are difficult to understand. Yet demand for cryptos is increasing at an accelerated rate after Tesla recently bought $1.5-billion worth of bitcoin.