Elon Musk Dons A Bitcoin Mining Hat And Fed Downplays Inflation Risk
Bitcoin plunged below $32,000 Sunday following Elon Musk’s announcement that Tesla wouldn’t accept the cryptocurrency as payment for its electric cars. Then, in a tweet that many misinterpreted, Musk appeared to say that Tesla had sold some of its Bitcoin holdings. It hadn’t. Earlier, Musk’s announcement that Tesla had invested $1.5 billion in Bitcoin sent the crypto higher. Next, Musk expressed doubts about the energy used in Bitcoin mining, the computer-driven solving of complex hexadecimal puzzles to keep the blockchain fresh and earn new Bitcoins as reward....