Financial News
Bitcoin s volatility makes it impractical as a store of wealth or payments mechanism
Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank s analysts said Getty Images By Wednesday March 17, 2021 2:11 pm
Analysts at Bank of America have attacked bitcoin as “exceptionally volatile” and “impractical” in a 17 March research note.
In the note, the analysts said there was “no good reason to own bitcoin unless you see prices going up”.
The analysts said the supply of the cryptocurrency was by design artificially constrained so demand swings are.
How demand for electric vehicle has helped lithium gain the most this year
March 15, 2021
The commodity has gained 82.80 per cent since the beginning of this year Lithium topped rhodium last week as the commodity that has gained the most this year on strong demand from Chinese battery manufacturers following demand mainly from Europe.
Tight spot availability has resulted in prices spiking sharply to 85,000 Chinese yuan (₹9.50 lakh) a tonne.
Metal Bulletin website said prices were up nearly three per cent last week, with lithium rising to 85,000-90,000 yuan (₹9.50 lakh-10.05 lakh).
According to the
Trading Economics website, the commodity, which has been at the forefront of many technological changes since the 1990s with the commercialisation of lithium-ion batteries, has gained 82.80 per cent since the beginning of this year.