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Elon Musk's bitcoin tweet hurts Tesla's own bet in currency

From bnnbloomberg.ca

Elon Musk has upped his Twitter game, sending holders of Bitcoin and Tesla Inc. scrambling during another bout of self-reflection. The world’s richest man helped to send the prices of both tumbling earlier Monday in the wake of his weekend comments that the prices of Bitcoin and smaller rival Ether “do seem high.” The tweet came two weeks after Telsa announced it has added US$1.5 billion in Bitcoin to its balance sheet, triggering a 50 per cent price jump in the already surging digital asset. Both have climbed off the lows of the day. Tesla holders have been through this before. In May 2020, Musk helped send Tesla ... (full story)

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  • Category: Fundamental Analysis