In today’s Exponential Investor:
- Elon and bitcoin
- What is DeFi according to the Fed?
- What’s your price?
Elon Musk (via Tesla) has joined the crypto revolution.
On Monday, Tesla announced it had bought $1.5 billion worth of bitcoin.
Some of the funny quotes online now suggest Tesla has made more on bitcoin in one month than it’s made in 14 years selling cars.
Either way, Tesla also plans to accept bitcoin soon too.
Is this finally the moment bitcoin is mainstream? Is this now vindication that the revolution is truly underway?
Or is it just a distraction from an asset class that’s starting to peak?
We look at what this really means to investors, to the financial system and to money. Also Kit asks the pertinent question, what’s your price?
Surely everyone has a price at which they’ll just cash out and enjoy the “traditional” financial system and the fruits of their speculative bet?
Or perhaps the developments in decentralised finance (DeFi) are going to change that idea.
Also, as referenced in today’s podcast, you can find a link to a fascinating look at the DeFi world from the St. Louis Federal Reserve, right here.
Finally, keep an eye out next week. We’ve got a big new website launch that’s set to go live on Tuesday.
You’ll hear more about it on Monday but we’re excited about it and you should be too when you see what we’ve been working on!