• Ark Invest's Cathie Wood defends bitcoin as an inflation hedge in crypto panel with Elon Musk

    13 days ago - By Business Insider

    Summary List Placement Ark Invest founder and CEO Cathie Wood defended bitcoin's role as an inflation hedge during a Wednesday panel discussion alongside Jack Dorsey and Elon Musk.
    The fund manager said bitcoin will serve as a hedge against inflation in certain situations, citing emerging markets as an example.
    "There are a lot of emerging markets that are suffering from significant inflation-in other words, the purchasing power of those populations is going down. So they are going to migrate to bitcoin and other ways to preserve purchasing power," Wood said.
    She made the remarks when...
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  • Elon Musk says Tesla will ‘most likely' accept Bitcoin again when it becomes more eco-friendly

    Elon Musk says Tesla will ‘most likely' accept Bitcoin again when it becomes more eco-friendly

    13 days ago - By Tech Crunch

    Tesla will ‘most likely' resume accepting bitcoin as a form of payment once the mining rate for the cryptocurrency reaches 50% renewables, CEO Elon Musk said Wednesday at a virtual panel discussion hosted by the Crypto Council for Innovation, remarks that are in line with statements he made last month on Twitter.
    Tesla started accepting bitcoin as a form of payment in February, the same time that the company purchased a historic $1.5 billion in bitcoin - before reneging on its decision just three months later, citing environmental concerns.
    Elon Musk, Technoking of Tesla, orders a halt to...
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  • Elon Musk says Tesla's caused him two-thirds of the personal and professional pain he's ever felt

    Elon Musk says Tesla's caused him two-thirds of the personal and professional pain he's ever felt

    13 days ago - By Business Insider

    Summary List Placement Elon Musk said two-thirds of the "personal and professional pain" he's experienced has stemmed from running Tesla.
    In a virtual bitcoin conference with Twitter CEO Jack Dorsey, Musk - who's also CEO of SpaceX - said he has poured his "life energy" into the electric car firm since it was founded in 2003.
    But he's hit a number of obstacles during that time, such as pandemic-driven supply chain issues , roofs flying off of Tesla models , and brand-new Tesla Model S Plaid's spontaneously bursting into flames.
    "This is a hella hard situation," Musk said, while also...
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