Chanticleer
Musk’s baffling about-face adds to bitcoin questions
Elon Musk’s backflip on bitcoin capped a tough day for holders of the currency, which might not be the inflation hedge some hoped.
Somewhere Robyn Denholm is quietly shaking her head. The Australian-born chairman of Tesla has been “Musked” again.
Just months after her chief executive, Elon Musk, sent financial markets into a spin by announcing Tesla had parked $US1.5 billion ($1.9 billion) of its cash in bitcoin, the billionaire founder has decided the cryptocurrency is dirty.
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