He sovereign individual: how to survive and thrive during the collapse of the welfare state. it12/27/2023 Musk has relied on the fact that the cryptocurrency market is controlled by a small number of people who are able to manipulate its ebbs and flows (save any sudden waves of panic). The following year, he invested $1.5 billion in the cryptocurrency Dogecoin. In 2019, Musk decided to accept cryptocurrencies as payment for the electric vehicles produced by his company Tesla. In the media, Musk is depicted as contemporary capitalism’s very own Tony Stark, alter ego of the Marvel superhero Iron Man: a business magnate, playboy, philanthropist, inventor and scientist. This schadenfreude is all the greater since the cryptocurrency crash particularly affects Elon Musk – in theory the world’s richest man, with assets valued at $268 billion. One feels sorry, but only a little, for those gullible people who invested their modest savings in crypto currencies hoping for easy profits and got fleeced by another pyramid scheme – an updated version of the seventeenth-century tulip fever in the Netherlands, history’s first senseless financial bubble. ![]() Since I last dealt with the topic for Sidecar seven months ago, the total capitalization of cryptocurrencies has decreased from $2.6 trillion – equivalent to the total GDP of France – to only $901 billion (as of 15 June). ![]() ![]() It is difficult to hide a certain satisfaction upon witnessing the collapse of bitcoin.
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