When Elon Musk announced in February that Tesla would be purchasing more than USD 1 billion in Bitcoin, the cryptocurrencys value immediately soaredonly to tumble following U.S. Treasury Secretary Janet Yellens cautions against the volatility of digital assets, then to rise again when banking powerhouse JPMorgan announced it would begin exploring cryptocurrency options. Despite the fluctuations and warnings, the increasingly mainstream interest and investment in Bitcoin and other cryptocurrencies seem to be heralding a new era of use and acceptance. This brief case examines the trend and asks students to discuss what mainstream investment might mean for the future of crypto.
Second, answer the questions below. In your initial response to the topic you have to answer all questions:
1. Do you think Tesla’s investment in Bitcoin will lead other companies to make similar investments in cryptocurrency?
2. What types of risk are associated with investments in cryptocurrency?
2. What impact do you think the acceptance of banks such as JPMorgan will have on interest in Bitcoin?
3. How do you think these developments might affect the general perception of Bitcoin and other cryptocurrencies? What predictions would you make about their future?
4. Reflection the students also should include a paragraph in the initial response in their own words, using finance terminology, reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace or in everyday life.
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