The Bullish Argument for Bitcoin After Currency Drops Below $8,000
It's been a rough week for Bitcoin. The cryptocurrency dropped below $8,000 on Friday, marking the third biggest drop over a five-year span. Bitcoin developer Jimmy Songs explains why he remains bullish.
"This is something that has happened in the past, and will happen in the future," says Song. "If you're looking out five to ten years this is an excellent investment."
Shares of Bitcoin plummeted after India's Minister of Finance announced plans to ban the digital currency. "Not everyone is fit for it, especially during these down times," said Song.
Direct health care company Nomi Health recently raised $110 million in a Series A round. Nomi Health lets public and private organizations directly purchase healthcare at reduced costs, and pay providers in real-time. It also delivers healthcare directly to under-served communities via its fleet of mobile care units, which the company says is the largest in the country. Nomi Health says its mission is to improve the health care experience for all Americans. Nomi Health CEO Mark Newman joined Cheddar News' Closing Bell to discuss.
Bitcoin's rise to the mainstream has been a wild ride this year. The cryptocurrency is trading a little under $49,000 Wednesday morning and is set to finish the year sharply higher than where it began earlier this year. Ether prices also soared this year, rising from $730 per coin to nearly $4,000. Ben Armstrong, founder of Bitboy Crypto, joins us to discuss what's in store for crypto in 2022.
The NHTSA is investigating Tesla over the potential for crashes and distracted driving due to its front touch screen "Passenger Play" game option. The probe covers 580,000 vehicles for all four models from 2017 to 2022.
Google CEO Sundar Pichai addressed staff about workplace culture concerns after they expressed issues with what they perceived as a lack of honesty, candor, and humility from their executives. Pichai attributed some of the challenges to remote communication during the ongoing pandemic.
The boys discuss President Biden's plans to send out free rapid tests as the testing supply chain starts to buckle ahead of the holidays. Also, why aren't Americans having more babies, and The Matrix returns.
NASA is launching its new generation of space telescopes just before Christmas. The James Webb Space Telescope, set to launch on December 24th, will succeed the Hubble space telescope as the world's most powerful complex space observatory. The project has been 30 years in the making and is one of the most highly anticipated space science missions of the 21st century. Klaus Pontoppidan, astronomer and JWST Project Scientist at the Space Telescope Science Institute joined Cheddar's Opening Bell to discuss.
Electric vehicle companies took a tumble Monday after Senator Joe Manchin killed Biden's 'Build Back Better' plan. Shares of Tesla, Lucid, and Rivian all fell rapidly as the plan had included significant incentives for the growing EV sector. Rich Steinberg, former executive at Nissan, BMW and Electrify America joined Cheddar's Opening Bell to discuss.
