The Silicon Insider

Silicon Insider | Tesla drops Bitcoin, while Elon pumps DOGE


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It's Crypto Week on the latest Silicon Insider podcast. Indeed, the last seven days may prove to be a turning point in the cryptocurrency story -- though it isn't yet obvious which way that turn is taking. It began with Elon Musk appearing last weekend on Saturday Night Live and agreeing that Dogecoin is nothing but a "hustle". Millions of young people watching the show to see their favorite tech Pied Piper, immediately drove up Dogecoin's value.
Then, early in the week, Musk turns around (is he just playing with us?) and announces that Tesla will no longer accept Bitcoin for purchases of its cars . . . because of environmental concerns -- it seems all those busy servers handling crypto trades are polluting the earth. Bitcoin value slumps. Then he says that maybe Tesla will start accepting Dogecoin -- a meme that became a joke that became a serious investment in the course of just a few months -- and millions of young speculators go crazy. Meanwhile, crypto trading platform Coinbase announces only 300 percent revenue in a single quarter, and its stock drops. Apparently, that wasn't enough for Wall Street. Tighten your seatbelts, folks, it's going to be a bumpy ride.
Meanwhile, tech jobs go begging. Google is looking beyond cookies. And finally, a fun insider look at why the Valley's tech giants are suddenly sucking up to local media after all-but ignoring it for years.
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The Silicon InsiderBy Pacific Light Media

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