Tesla Could Take a Big Loss on Its Bitcoin Bets
@Michelle Ong：
Tesla Motors -0.57% Tesla’s (NASDAQ:TSLA) big bet on Bitcoin (BTC-USD) is beginning to look like a blunder amid a violent crash for cryptocurrencies. While adding Bitcoin (BTC-USD -14.6%) in early 2021 looked like a wise decision throughout the year and even into early 2022, the tables have turned rather quickly in recent months. The price of Bitcoin specifically has fallen just over 50% in the current quarter, which bodes poorly for Tesla’s (TSLA -7.1%) upcoming quarterly report. With shares down nearly 50% year to date, bookended by an over 7% drop on Monday, the Bitcoin issue adds yet another headwind to contend with as a number of adverse impacts bear down on the Austin-based automaker.
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