With Bitcoin leading the downward spiral of crypto currency values, Ranson and Tony take a look at the factors which have contributed to the rollercoaster ride in the crypto market. In recent weeks, crypto mining has come under increasing scrutiny amidst revelations of its massive energy consumption and negative impact on the environment and China is taking significant measures to curb crypto mining and have already shutdown a number mining regions within the country. Our hosts also examine the role Tesla played in the valuation of bitcoin and look to one country in seeking to make bitcoin legal tender.
Links:
China’s focus on cryptocurrency: https://www.cnbc.com/2021/06/22/china-crypto-crackdown-wipes-nearly-300-billion-off-market-btc-slides.html
El Salvador wants bitcoin to become legal tender: https://www.bbc.com/news/business-57507386
This podcast is for informational purposes only and is not intended to replace professional legal, financial or insurance advice. We are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. The content and views expressed are those of the host and guests.
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