US High School Economics class: Bitcoin price tops $60,000 for first time since 2021
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Bitcoin price tops $60,000 for first time since 2021
Discussion Questions
What is the phenomenon known as “fear of missing out” (FOMO) and how does it influence Bitcoin’s price?
What are spot Bitcoin exchange traded funds (ETFs) and which asset managers were approved by US regulators to launch them?
How much of the total Bitcoin supply is held by the 11 approved Bitcoin funds and what does this indicate about investor interest?
What role did Nvidia’s blockbuster results play in the wider rally in traditional financial markets and how did this affect Bitcoin’s price?
What were the specific disruptions experienced by Coinbase users during the surge in Bitcoin’s price and what was Coinbase’s response?
What criticisms did European Central Bank officials have regarding Bitcoin and what did they predict about its future?
What legal challenges have crypto exchanges Binance and FTX faced and what were the outcomes?
Extended learning
Watch this video on Bitcoin and answer the following questions:
What was Bitcoin initially considered a hobby for and who has it recently drawn the interest of?
How does the blockchain work and what is the role of Bitcoin miners?
What are the risks associated with losing your Bitcoin wallet key?
Why has Bitcoin not gone mainstream as a currency, according to the video?
What should you consider before investing in Bitcoin, according to the video?
Conclusion
Based on what you’ve learned about Bitcoin’s price movements, its use as an investment and the technology behind it, what are some important factors to consider before buying Bitcoin?
How might these factors influence your decision to invest in Bitcoin?
Joel Miller and James Redelsheimer, Foundation for Economic Education.
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