Analyst Says Tesla Share Price Now Directly Tied to Value of Bitcoin

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Tes­la, led by Elon Musk, con­firmed that it pur­chased about $ 1.5 bil­lion in bit­coin in Jan­u­ary and expects to start accept­ing it as a pay­ment in the future.Artur Widak | Nur­Pho­to | Get­ty ImagesTes­la’s share price is now direct­ly linked to the price of bit­coin after Elon Musk’s com­pa­ny invest­ed $1.5 bil­lion into the volatile cryp­tocur­ren­cy, accord­ing to Daniel Ives, an ana­lyst at Wedbush.“Musk is now tied to the bit­coin sto­ry in the eyes of the Street and although Tes­la made a bil­lion paper prof­it in its first month own­ing the dig­i­tal gold, it comes with added risk, as seen this week,” …


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