Bolton tackles Tesla over âworthlessâ bitcoin Investor Nick Bolton accuses Teslaâs Elon Musk of hypocrisy for promoting bitcoin, the production of which requires huge amounts of power. Picture: David Geraghty
Business by Richard Gluyas
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Subscriber only In his determination to understand volatile markets, Nick Bolton has immersed himself in some unusual activities, like spending $5000 on two specialised computer servers in China to mine bitcoin and track the mania fed by Tesla chief executive Elon Musk. Bolton, who has a short position in the electric vehicle maker and has previously shorted bitcoin, is now sufficiently abreast of the issues to express his considered view about the cryptocurrency s worth - probably absolutely nothing, he says, which is a little less than its current valuation of $US1 trillion ($1.3 trillion).
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