The curse of volatility
Mar 25, 2021
Elon Musk is not dumb:
Buyer beware if you use bitcoin and need a refund or buyback. https://t.co/aTOh7ryMe0 pic.twitter.com/FhajLkbsJa
— Jordan McRae (@jordan_mcrae_) March 24, 2021
Bitcoin crashed from $20,000 to $3,000 in a one-year period starting from late 2017. If that happens again, then Tesla will be very happy to refund in Bitcoin.
Tesla is not pricing its cars in # BTC as some idiots are mistakenly stating. Tesla is pricing its cars in $ and converts for the transaction.
— Nassim Nicholas Taleb (@nntaleb) March 25, 2021
BTC was down 10% overnight. One must be reaaaaaally ignorant to treat a SPECULATIVE item as a "currency" or reliable "store of value". https://t.co/0MGKlzH0Wk
Yup. Bitcoin has been the most spectacular gamble of the last decade but it's not a currency given its volatility: down 16% in just the last two weeks.
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