Commodities Prices Soar As China Stockpiles

There have been reports going around the past couple of days that the Chinese government is cracking down on commodities speculation. They blame speculators (like futures traders) for the soaring prices in key commodities. But it’s the Chinese government that has a record of driving up global commodities prices in the wake of a global…

Elon Musk Reveals Why He’s Backing Dogecoin Over Bitcoin, Ethereum And Others After Surprise Call For Upgrade ‘Ideas’ Sends Its Price Sharply Higher

Elon Musk, the Tesla TSLA chief executive that has sent the bitcoin price on a roller coaster this year, has continued his potentially ironic support of the “joke” bitcoin rival dogecoin. Musk took to his preferred platform, Twitter, to explain why he’s backing dogecoin, telling another Twitter user dogecoin “has dogs and memes”—helping the dogecoin…

Tesla’s Bitcoin Holdings In Reverse

Elon Musk suspends Tesla purchases with bitcoin. STRF/STAR MAX/IPx Bitcoin has continued its deep dive this weekend, falling from a high of $42,172 on Friday and hovering around $32,000 to $33,000 on Sunday afternoon. At one point it had fallen over 50% from its April 14 all-time high of $63,863. As of March 31 Tesla…

‘I Won’t Sell’ Dogecoin—Tesla Billionaire Elon Musk Reveals Where He Stands In ‘The True Battle’ Between The Dollar And Crypto

Elon Musk, the meme-loving Tesla TSLA chief executive that moves markets with his irreverent tweets, is apparently readying for war. Musk, who’s recently gone all-in on the somewhat satirical cryptocurrency dogecoin—helping its price soar many thousands of percent to a mind-blowing $42 billion market capitalization—sees a “battle” coming between government-backed fiat currencies and protocol-based cryptocurrencies.…

China’s Crypto Crackdown Shows Governments Are The Enemy Of Bitcoin

A bitcoin logo in the window of a bitcoin automated teller machine (ATM) kiosk in Barcelona, Spain, … [+] on Tuesday, Feb. 23, 2021. Bitcoin climbed, aided by supportive comments from Ark Investment Management’s Cathie Wood and news that Square Inc. boosted its stake in the cryptocurrency. Photographer: Angel Garcia/Bloomberg © 2021 Bloomberg Finance LP China is proving that government…

David Einhorn Sees A Gold Rush In Copper Due To EVs

David Einhorn of Greenlight Capital presented his thesis for Teck Resources at the recent 2021 Sohn Investment Conference. He explained that the vast amount of electricity needed to support electric vehicles would create a copper rush, giving copper miners like Teck Resources a boost. LAS VEGAS – AUGUST 07: David Einhorn of New York talks on his cell…