Economy - Finance > Invest

Bitcoin is too vulnerable to Elon Musk's tweets to put money in, Kleinwort Hambros investment chief says

1 month ago   |   By Business Insider

Summary List Placement Bitcoin fans will have cheered Elon Musk's latest market-stirring tweet. The Tesla CEO said the car company would start accepting bitcoin payments again once crypto mining became greener, driving the token's price back above $40,000 .
Yet for the chief investment officer of Societe Generale's UK private bank, Musk's tweet was another example of why bitcoin is not worth investing in.
"Any asset class that basically moves 10% based on one guy's tweets is not fit for purpose," Fahad Kamal, investment chief at Kleinwort Hambros, told Insider.
"When an asset class is so...
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Bitcoin is too vulnerable to Elon Musk's tweets to put money in, Kleinwort Hambros investment chief says

Bitcoin is too vulnerable to Elon Musk's tweets to put money in, Kleinwort Hambros investment chief says

1 month ago   |   By Business Insider

Tesla CEO Elon Musk has been one of the key drivers of the bitcoin boom.
Christophe Gateau: picture alliance via Getty Images
Bitcoin is far too vulnerable to Elon Musk's tweets to invest in it, Kleinwort Hambros' CIO said.
Musk sent bitcoin back above $40,000 with a tweet saying Tesla could resume accepting it as payment.
But Kleinwort's Fahad Kamal said bitcoin is "not really an asset class that we have any conviction in."
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Bitcoin fans will have cheered Elon Musk's latest market-stirring tweet. The Tesla CEO said...
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Ether and other major cryptocurrencies follow bitcoin higher after Elon Musk says Tesla may accept it as payment again

1 month ago   |   By Business Insider

INA FASSBENDER/AFP via Getty Images
Major cryptocurrencies rose in lockstep with bitcoin after Elon Musk tweeted that Tesla may accept the popular coin as payment.
Ether, tether, binance coin, cardano, and dogecoin, all edged higher over the last 24 hours.
An expert said she is unsure whether the most recent pop signals a continuing upward trend, but she does know one thing: "Musk is responsible."
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Major cryptocurrencies rose on Monday, moving in lockstep with bitcoin 's jump after Elon Musk tweeted that Tesla would...
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Ether and other major cryptocurrencies follow bitcoin higher after Elon Musk says Tesla may accept it as payment again

Ether and other major cryptocurrencies follow bitcoin higher after Elon Musk says Tesla may accept it as payment again

1 month ago   |   By Business Insider

Summary List Placement Major cryptocurrencies rose on Monday, moving in lockstep with bitcoin 's jump after Elon Musk tweeted that Tesla would accept the cryptocurrency as payment again once mining can be done using cleaner energy.
Bitcoin edged higher Monday following the tweet, inching closer to $40,000, its highest level in two week.
Here's where the major cryptocurrencies stood in the past 24 hours as of Monday morning ET:
Ether: up 5.03% to $2,489
Binance Coin : up 6.4% to $359
Cardano : up 5.1% to $1.52
Dogecoin : up 3.6% to $0.323654
Alexandra Clark, sales trader at GlobalBlock, a...
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Elon Musk says he's selling his last remaining house, a 'special place' in California that he wants a large family to buy

1 month ago   |   By Business Insider

Tesla CEO Elon Musk says he's selling his final house.
Pool/Getty Images
Elon Musk tweeted that he planned to sell his last remaining house, located in California's Bay Area.
Musk said that he has already sold all his other houses to fund a Mars colony.
Musk called the property a "special place" and said he wanted to sell it to a large family.
See more stories on Insider's business page .
Tech billionaire Elon Musk said Monday that he planned to sell his "last remaining house." Musk called the property, in California's Bay Area, a "special place" and said he wanted to sell it to a large...
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