Hi Henry

Thanks for taking the time to comment. Some good inputs here.

1) Unfortunately Bitcoin mining uses a lot of coal (though also renewables, as you point out). For example, in Xinjiang (the capital of mining) where some electricity comes from dams, but where the majority is produced with coal. The reason is coal is incredibly cheap here. It's abundant and moving it south to the more populous areas of China is expensive.

2) I agree to some degree. Blockchain is silently (but steadily) being adopted throughout the corporate world - especially in finance and payments. I don't believe Bitcoin will have a place as anything else than a speculative asset. But that doesn't mean the underlying technology won't.

3) Agreed. But Musk should think about the average Americans he burn with these jokes. Lots of regular people without a lot of money piling into meme stocks and Doge only to find themselves buying at the top. It's a shame... Not innocent fun imo.

4) I think you are right that a lot of people are buying Tesla stock because they like the company. But hedgies bought aggresively last year to get it into the S&P 500 and have no offloaded their premium priced shares to passive funds tracking the index. Musk played his part by his continouos promises of imminent techonolgical revolution etc.

You don't sound like a fanboy if that is of any relief.

Regards, Asger

I’m an economist doing policy design and analysis. I write about the economy, taxation, innovation and growth, policy design, and financial markets.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store