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Money Talks from The Economist

Money Talks: Once bitcoin, thrice as high

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 5 January 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

Having tripled in value in the past quarter, the cryptocurrency continues its rollercoaster ride, as the financial establishment begins to jump aboard. Also, why a new EU-China investment deal fails to balance competition, cooperation and confrontation. And, what can companies do to bridge the gap between the workforce of today and the jobs of tomorrow? Rachana Shanbhogue hosts 


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Transcript

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0:00.0

This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats.

0:11.0

So you can order your own fries instead of eating everyone else's.

0:15.0

Trains, now on Uber. T's have jumped on board.

0:33.0

Could the cryptocurrency be about to go mainstream?

0:36.0

You're listening to Money Talks on Economist Radio,

0:40.0

our weekly podcast on the market, the economy and the world of business.

0:44.5

I'm Ratch Nesharnbogue, the Economist Finance Editor, and coming up on today's show,

0:49.5

Can the new investment deal agreed by the European Union and China strike a delicate

0:54.0

balance between competition, cooperation and confrontation. It's not so much naive

0:58.6

as deeply cynical. The European leaders, particularly in Germany, believe that this is almost the last chance to get any concessions out of China.

1:07.0

And what can companies do to bridge the gap between the workforce of today and the jobs of tomorrow.

1:13.0

People often ask me about the cost.

1:16.0

What happens if companies invest to train people and people leave?

1:20.0

And I always say, but what if you don't train them in this day? First, Bitcoin, the world's most popular cryptocurrency, had an extraordinary 2020, increasing

1:37.0

in value by more than 300%.

1:40.3

It began 2021 even stronger, hitting a new record on Sunday, January the 3rd of more than $34,000,

1:48.2

before its stratospheric rise faltered with a drop of around 10% on Monday.

1:53.0

Its recent journey has led some analysts to predict the price will soon surge into the hundreds

1:59.1

of thousands. Others see a bubble soon to burst as happened in 2018.

2:04.0

How to make sense of this whiplash ride.

2:07.0

So 2020 was an incredible year for Bitcoin, which has been on a roller coaster ride

2:12.0

basically for most of its existence.

...

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