Goldman Sachs, March, 31, Ric Edelman discussed on Ric Edelman


And be NY Mellon and Goldman Sachs. They've announced that they're starting digital custody units later this year so clearly and relatively quietly. Wall Street is getting engaged. And by the way, just to illustrate how new this entire conversation is and how we haven't always figured out everything involving it. Well, you know, Tesla, Elon Musk bought a lot of Bitcoin through Tesla. That's created a big tax problem for Tesla. Tesla had $1.3 billion worth of Bitcoin as of March, 31. Now. Digital assets are not currency says the Federal Reserve. And the I. R s They are indefinite lived intangible assets. That's a tax term. In other words of a company buys Bitcoin. And the value falls below what the company paid for them. The company has to take an impairment charge. If later the price rises. The gain is not reportable until the company sells the asset. Well, we know that in the last couple of months, Bitcoin fell 50%. The value was 1.3 billion back in March. Today, the value is about half that Tesla is going to have to take an impairment charge in the second quarter, maybe as much as $100 million. Did they anticipate that? Did anybody on Wall Street? Anticipate this? What else haven't we anticipated? It's just an illustration of how new All this is, and we're experiencing all this for the first time. I'm Ric Edelman every week. I'd like to bring you the latest innovations from the field of exponential technologies. Researchers say A new blood test called Gallery can detect more than 50 types of cancers. That often go undetected until it's almost too late right now, According to the National Cancer Institute, there.

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