The Why? Curve

Musk’s Bitcoin Eureka Moment


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Elon Musk has suddenly woken up to Bitcoin. He has put $1.5 billion of it on the Tesla balance sheet and will soon accept it as a payment from customers. But isn’t it a risk for a company, already highly valued given its low underlying earnings, to put so much into such a volatile asset. There’s nothing volatile about Bitcoin according to Max Keiser, an early Bitcoin advocate and investor. It will only increase in value whilst the ever-expanding supply of fiat money, the US dollar in particular, will see those currencies lose value. He makes the bold prediction that as Bitcoin gains momentum, the US dollar will lose 50 percent this year! Plus, performing artists are another Brexit casualty, and could Britain be swamped with the South African mutant strain of COVID-19, with a vaccine that does little to stop it?

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The Why? CurveBy Phil Dobbie