Here we go again.
Bitcoin cannot become conventional mean of transactions (money), because it is inherently deflationary (its limited supply means that it is better to hoard it rather than buy things with it). Fiat currency may be replaced by CBDCs, but not by bitcoin et al. Can it become a more conventional asset, aka modern gold? Unlikely, for many reasons. Most likely scenario is that Bitcoin will remain highly volatile speculative asset, until some some sort of regulatory clamp down or other mishap.
Hey Andrew, I can support you by sharing how I learnt to read financial statements and create a story behind securities' valuation methods. But I would rely on people who spent time professionally and have the right credentials to educate about investing.
Two of my favourite bubbles have merged! :)
Bitcoin transactions consume close to 100TWh energy per year, most of it produced in coal-fired plants. It will be harder for Musk to pretend it is all about saving the planet.
But it is not completely unexpected - losing market shares, revenues stagnate, can’t make profit selling cars, what is there left to do? Speculate in cryptocurrencies, of course.