RTR: Bitcoin slumps 14% as pullback from record gathers pace
REUTERS reports: Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, ...
SEEKING ALPHA reports:
– Electric vehicle automaker Tesla (NASDAQ:TSLA) has made roughly $1B of digital profit on Bitcoin (BTC-USD) over the last month, estimates Wedbush Securities.
– Dan Ives puts that windfall in perspective by noting that Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its EV cars in all of 2020.
– Ives and team think other public companies will follow Tesla’s lead on the speculative diversification play.
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