Another survey, by Deutsche Bank, warned of price bubbles in the cryptocurrency. Billionaire Musk has long been a cryptocurrency fan - he has talked them up online - but Tesla's hard currency investment came as a surprise that has put a rocket under the sector. But I think by the end of the year, with the current rate of institutional flow inbound, it will become clear that this is a once-in-a-lifetime landgrab," said Jehan Chu, founder and managing partner at Kenetic, which invests in blockchain-related companies.
The dollar slid against most currencies on Tuesday. In the ongoing digital wave, central bankers and regulators, particularly in China, are also starting to embrace issuing their own digital currencies for everyday use, in a major break from the conventional workings of global finance. However, Vitor Constancio, former vice-president of the European Central Bank, wrote on Twitter that policymakers should focus on regulating cryptocurrencies and only develop digital currencies if they will help banks in their role of enabling credit creation.
The Tesla news-led rally stretched beyond bitcoin. Even dogecoin, a joke cryptocurrency with a dog as its symbol, has seen its value turbocharged after Musk mentioned it on Twitter. China's Feitian Technologies Co Ltd, which makes technology for digital payments, rose 4. Skip to main content. Home Business. Photo: Reuters. Reuters, Tokyo. As of GMT, the pace of the rally had cooled, and was trading flat. Click here to download it for your device. The Daily Star Breaking news alert on your phone.
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