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What Do The Pros Think About Tesla's Bitcoin Investment?

Tesla Inc investor Ron Baron says the company's decisionto invest $1.5 billion inBitcoin(BTC) and ac

What Do The Pros Think About Tesla's Bitcoin Investment?

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It's likely&nbsp;Tesla is not \"speculating on the price of bitcoin,\" rather using it as a payment system.</p>\n<p>Other heavyweight investors such as Stanley Druckenmiller and Paul Tudor Jones, CIO of Tudor Investment Corp.,&nbsp;are equally bullish on bitcoin, while companies like&nbsp;<b>Paypal Holdings Inc</b>&nbsp;are building out its digital currency offerings.</p>\n<p>\"I'm sure a lot of thought went into bitcoin purchase by Tesla and I look forward to learning the rationale,\" according to Baron, the CEO, chairman and portfolio manager of Baron Funds.</p>\n<p>Loup Ventures' Gene Munster also likes the move.</p>\n<p>\"Tesla has money to lose with $19 billion in assets,\" Munster told Benzinga. \"Yes, Bitcoin can move the needle for Tesla. If it goes up 10x, that's $15 billion to Tesla. That's real money.\"</p>\n<p><b>Bitcoin Investment:</b>Tesla's decision to allocate around 7.5% of its total cash into bitcoin and could be seen as a signal to customers it \"understands where the world is going,\" Galaxy Digital CEO Michael Novogratztold CNBC.&nbsp;People want to do business and invest in companies that are looking forward to the next 100 years —&nbsp;not the last 100 years.</p>\n<p>On the other hand, Musk shouldn't be tweeting about Dogecoin as the digital currency's appreciation has reached a point where some people will lose a lot of money, he said. The digital coin has no real purpose, unlike bitcoin or Ethereum and others.</p>\n<p>\"It was funny for a little bit,\" Novogratz said.</p>\n<p><b>Hard To Prove Any Manipulation:</b>Musk has been bullish on bitcoin for some time and this begs the question if his public comments can be seen as market manipulation. Muddy Waters Research Founder Carson Block said he doesn't think this is the case.</p>\n<p>Musk is far from the only notable persona in the investment community to publicly comment on what he is bullish on. Musk's comments are no different from Chamath Palihapitiya confirming he is long&nbsp;<b>GameStop Corp.</b>&nbsp;call options.</p>\n<p>Meanwhile, the U.S. Securities and Exchange Commission \"does not have a record of success\" against Musk,Block told CNBC. As such, any investigation would likely lead to a \"dead end.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Do The Pros Think About Tesla's Bitcoin Investment?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Do The Pros Think About Tesla's Bitcoin Investment?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-02-09 06:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Tesla Inc</b>&nbsp;investor Ron Baron says&nbsp;the company's decisionto invest $1.5 billion inBitcoin(BTC) and accept the digital currency as a payment option is \"not surprising.\"</p>\n<p><b>Musk Likes Bitcoin:</b>Tesla CEO Elon Musk has been \"commenting favorably\" on bitcoin for a while, Baronsaid in the statement&nbsp;to CNBC. It's likely&nbsp;Tesla is not \"speculating on the price of bitcoin,\" rather using it as a payment system.</p>\n<p>Other heavyweight investors such as Stanley Druckenmiller and Paul Tudor Jones, CIO of Tudor Investment Corp.,&nbsp;are equally bullish on bitcoin, while companies like&nbsp;<b>Paypal Holdings Inc</b>&nbsp;are building out its digital currency offerings.</p>\n<p>\"I'm sure a lot of thought went into bitcoin purchase by Tesla and I look forward to learning the rationale,\" according to Baron, the CEO, chairman and portfolio manager of Baron Funds.</p>\n<p>Loup Ventures' Gene Munster also likes the move.</p>\n<p>\"Tesla has money to lose with $19 billion in assets,\" Munster told Benzinga. \"Yes, Bitcoin can move the needle for Tesla. If it goes up 10x, that's $15 billion to Tesla. That's real money.\"</p>\n<p><b>Bitcoin Investment:</b>Tesla's decision to allocate around 7.5% of its total cash into bitcoin and could be seen as a signal to customers it \"understands where the world is going,\" Galaxy Digital CEO Michael Novogratztold CNBC.&nbsp;People want to do business and invest in companies that are looking forward to the next 100 years —&nbsp;not the last 100 years.</p>\n<p>On the other hand, Musk shouldn't be tweeting about Dogecoin as the digital currency's appreciation has reached a point where some people will lose a lot of money, he said. The digital coin has no real purpose, unlike bitcoin or Ethereum and others.</p>\n<p>\"It was funny for a little bit,\" Novogratz said.</p>\n<p><b>Hard To Prove Any Manipulation:</b>Musk has been bullish on bitcoin for some time and this begs the question if his public comments can be seen as market manipulation. Muddy Waters Research Founder Carson Block said he doesn't think this is the case.</p>\n<p>Musk is far from the only notable persona in the investment community to publicly comment on what he is bullish on. Musk's comments are no different from Chamath Palihapitiya confirming he is long&nbsp;<b>GameStop Corp.</b>&nbsp;call options.</p>\n<p>Meanwhile, the U.S. Securities and Exchange Commission \"does not have a record of success\" against Musk,Block told CNBC. As such, any investigation would likely lead to a \"dead end.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110005307","content_text":"Tesla Inc investor Ron Baron says the company's decisionto invest $1.5 billion inBitcoin(BTC) and accept the digital currency as a payment option is \"not surprising.\"\nMusk Likes Bitcoin:Tesla CEO Elon Musk has been \"commenting favorably\" on bitcoin for a while, Baronsaid in the statement to CNBC. It's likely Tesla is not \"speculating on the price of bitcoin,\" rather using it as a payment system.\nOther heavyweight investors such as Stanley Druckenmiller and Paul Tudor Jones, CIO of Tudor Investment Corp., are equally bullish on bitcoin, while companies like Paypal Holdings Inc are building out its digital currency offerings.\n\"I'm sure a lot of thought went into bitcoin purchase by Tesla and I look forward to learning the rationale,\" according to Baron, the CEO, chairman and portfolio manager of Baron Funds.\nLoup Ventures' Gene Munster also likes the move.\n\"Tesla has money to lose with $19 billion in assets,\" Munster told Benzinga. \"Yes, Bitcoin can move the needle for Tesla. If it goes up 10x, that's $15 billion to Tesla. That's real money.\"\nBitcoin Investment:Tesla's decision to allocate around 7.5% of its total cash into bitcoin and could be seen as a signal to customers it \"understands where the world is going,\" Galaxy Digital CEO Michael Novogratztold CNBC. People want to do business and invest in companies that are looking forward to the next 100 years — not the last 100 years.\nOn the other hand, Musk shouldn't be tweeting about Dogecoin as the digital currency's appreciation has reached a point where some people will lose a lot of money, he said. The digital coin has no real purpose, unlike bitcoin or Ethereum and others.\n\"It was funny for a little bit,\" Novogratz said.\nHard To Prove Any Manipulation:Musk has been bullish on bitcoin for some time and this begs the question if his public comments can be seen as market manipulation. Muddy Waters Research Founder Carson Block said he doesn't think this is the case.\nMusk is far from the only notable persona in the investment community to publicly comment on what he is bullish on. Musk's comments are no different from Chamath Palihapitiya confirming he is long GameStop Corp. call options.\nMeanwhile, the U.S. Securities and Exchange Commission \"does not have a record of success\" against Musk,Block told CNBC. 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