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Coinbase IPO, Reparations For Bruce's Beach, Crypto Energy Usage | Bold Business
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April 23, 2021
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April 23, 2021
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8:52Now PlayingWelcome back to Bold Business with David Grasso and Philip Michael! Be sure to like, subscribe, and hit the notification bell for all things BOLD, and for more news headlines and business trends.
The popular cryptocurrency app, Coinbase, goes public on the stock market. The app opened at $381 a share with an $86 billion valuation! Early investors in the platform, celebrities Kevin Durant and Nas, are expecting millions in profit. Experts expect the stock to rise and fall with the crypto market, and with more people going for crypto, is it becoming a safer bet than the stock market?
What is Bitcoin mining? Essentially, mining for Bitcoin is tasking your computer to compute complex equations to get to the amount of one Bitcoin. At one point all it took for Bitcoin mining was your personal computer. Nowadays, it takes a much stronger system, which uses a lot more energy, when mining for Bitcoin.
Now let's talk why that is important while we are celebrating Earth Week and World Earth Day 2021. The amount of energy used to mine Bitcoin today around the is the same amount of energy used to power the entire country of Argentina. Is this an environmental factor we should be concerned with?
The descendants of a black family that once owned an oceanfront resort in Manhattan Beach California could be getting that property back from the government. Charles and Willa Bruce once owned a strip of property almost a century ago that they were forced to give up when the government didn’t allow black people on the beach. Los Angeles county is working with lawmakers on legislation to return the property that is now worth $75 million. The descendants are considering either a direct payout, or to own the property and lease it to the government. What do you think?
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