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With Bitcoin leading the downward spiral of crypto currency values, Ranson and Tony take a look at the factors which have contributed to the rollercoaster ride in the crypto market. In recent weeks, crypto mining has come under increasing scrutiny amidst revelations of its massive energy consumption and negative impact on the environment and China is taking significant measures to curb crypto mining and have already shutdown a number mining regions within the country. Our hosts also examine the role Tesla played in the valuation of bitcoin and look to one country in seeking to make bitcoin legal tender.
Links:
China’s focus on cryptocurrency: https://www.cnbc.com/2021/06/22/china-crypto-crackdown-wipes-nearly-300-billion-off-market-btc-slides.html
El Salvador wants bitcoin to become legal tender: https://www.bbc.com/news/business-57507386