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.
Cheddar News senior reporter, Michelle Castillo joined Scott Keogh, CEO of Volkswagen Group of America, for a ride in the new ID.Buzz electric van at South by Southwest. Keogh touched on issues from the auto giant's commitment to electrification and achieving carbon neutrality to the need for more charging infrastructure to support the electric vehicle wave. "We made a commitment to be CO2 neutral, and I think the reason it is, simplistically is, we're the world's largest car company. We're responsible for 1 percent of global CO2 emissions, and frankly, leaders have to lead and so that's what we want to do," he said.
The U.S. Securities and Exchange Commission Monday laid out a proposal that would require businesses to disclose the emissions they produce. Kathleen Rogers, CEO & President at EARTHDAY.ORG, joined Cheddar News to break down the implications of this historic step.
Electric car manufacturer Tesla opened its first European factory on the outskirts of Berlin in an effort to challenge German automakers on their home turf.
Boeing shares saw a pullback after a 737-800 aircraft with 132 people on board nosedived mid-flight, crashing into the mountains of Southern China. China's Eastern Airlines plane was not a 737-Max model, which was grounded worldwide after two fatal crashes in 2018 and 2019, but it's once again raising questions about the safety of Boeing's aircraft. Michael Boyd, CEO of Boyd Group International, gave Opening Bell his take on what another crash means for Boeing.
