Elon Musk introduced himself last Saturday to viewers of Saturday Night Live, the cult comedy show on American TV, explaining: “To anyone who has offended, I just want to say that I reinvented electric cars and sent people to Mars in a spaceship. Did you think that I would also be a normal and quiet boy? “. Nobody ever thought that, but ok. Then her mother appeared on the show, as it was also Mother’s Day: “I’m excited about the gift. I just hope it’s not a Dogecoin, ”which is the digital currency initially created as a joke that Musk helped push up in his tweets. And he replied: “Of course it is, for sure.” He is not a normal and calm guy, just as the value of the Dogecoins is not calm and normal, which fell by a third during the broadcast and then recovered delicately. The same fate befell bitcoin when in the first quarter of 2021 Musk decided to buy it with Tesla for 1.5 billion dollars and the value almost doubled in a short time. How it dropped nearly 20% when the day before yesterday he tweeted that he no longer accepts bitcoin payments for his cars for environmental reasons. On the other side of the media and physical ocean, Bank of England Governor Andrew Bailey said a few days ago that cryptocurrencies: “They have no intrinsic value. This doesn’t mean that people don’t value them, because they can have extrinsic value. But they have no intrinsic value. I will say it again very frankly: only buy them if you are ready to lose all your money. ”The value of something really has an intrinsic relationship or depends entirely and exclusively, no longer only on the relationship between supply and demand but also on the voice , on the media but even more on social media, which is capable of moving like or dislike, thumbs up or pointing to the sky, opinions but also investments and international market conditions? In no particular order: a few days ago, the Roma sports club, on a quiet afternoon, he announced the signing of Portuguese coach José Mourinho: the stock rose by 21%. 10 April: Diego Della Valle announces the entry into Tod’s of Chiara Ferragni. The brand’s stock market prices rise by 14% per cent January 8: rumors of the South Korean economic newspaper Korea Economic Daily report that Apple, in collaboration with Hyundai, is ready to produce an electric car. Title up over 20% .Double Dragons. The famous “Whatever it takes”, pronounced in the summer of 2012, saves the euro from speculation and causes an immediate drop in interest rates. At the beginning of 2021 with the new government chaired by him, the first signs of recovery of the Italian economy also arrive and the spread falls by magic below the fateful threshold of 100 points. Obviously the announcements are also valid downwards but they are called falls . “We will be there using all the flexibility, but we are not here to close the spreads. This is neither the function nor the mission of the ECB, there are other tools and other actors for interventions on these aspects “. In March 2020, at the height of the pandemic, this sentence by the president of the European Central Bank Christine Lagarde was enough to generate a collapse of the markets and bring the Italian spread to over 200 points, not that things have no value. But if by intrinsic value of a coin we mean the material used to build it, in the case of Bitcoin what are we referring to, the energy needed to get one out of the web? Difficult to take in the mind the sense of intrinsic in a share value that rises and falls depending on a sporting result or for the tweet of an or an influencer. Let us abandon the effort of the Governor of the Bank of England by thinking of numbers, invented by man to give a measure to things and somehow take their intrinsic sense. Real numbers, however, include rational ones but also irrational ones, that is, numbers that cannot be expressed either as integers or as ratios between numbers. In short, reality is never completely and intrinsically measurable. Much less in the days of Twitter.
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