Short Position - Cryptocurrency, YTL Cement, vaccination

Stacks of bitcoins sit near green lights on a data cable terminal inside a communications room at an office. - Filepic

Unregulated cryptocurrency markets

ELON Musk’s recent U-turn on bitcoin is illustrative of the unregulated environment that cryptocurrencies operate in. This week, Musk, the founder of Telsa Inc, said on Twitter that his electric car company would no longer accept payment in bitcoin. He cited environmental reasons.

But it was only in February when he said Telsa would buy US$1.5bil (RM6.19bil) worth of bitcoin and soon after said that the company would start accepting bitcoin as payment.