Saturday, December 04, 2021

Bitcoin Plunges (Again)

Crypto craziness was on display again with the latest huge sell off in Bitcoin, which dropped around 17% over the last 24 hrs. Yet its proponents continue to tout it as a "safe haven" for currency volatility. Meanwhile in Turkey; the lira continues its rapid decline with inflation now running around 20%. Turks are rushing to convert their money... into dollars and gold.

1 comment:

unreconstructed rebel said...

Not nearly enough. Two things bug me about cryptocurrency:

1)The energy requirements needed to realize the stuff.

2)It becomes worthless when the lights go out.

I continue to be mystified by its appeal.