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What Does Tesla’s Bitcoin Bet Mean For Investors?

3 weeks ago
in investors
3 min read
What Does Tesla’s Bitcoin Bet Mean For Investors?
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What happens when an unstoppable force meets an immovable object? Well, sometimes they join forces and form an undisputed hype train supreme.

This article was originally published on MyWallSt — Investing Is for Everyone. We Show You How to Succeed.

Tesla (NASDAQ: TSLA) is that unstoppable force, confirming yesterday that it had acquired $1.5 billion worth in Bitcoin, the immovable object. Of course, the news sent Bitcoin above $40,000 once more, while Tesla stock enjoyed its own bump. 

 

What does this mean though?

It means that Elon Musk is taking a big, albeit potentially profitable risk.

This is a rather unprecedented situation for a manufacturing company, but Tesla and its eccentric CEO have never been ones to take the beaten path. With a number of successively profitable quarters on hand, S&P 500 inclusion, a ride-or-die following, as well as $19 billion in cash and equivalents as of its most recent filing, Tesla can likely afford to make this risky investment.

But the danger of Bitcoin’s volatility remains,

In 2013, for example, it started at around $13 and spiked to over $1,000 by December. In 2017, it went from about $1,000 to around $20,000. In early 2020, it had sunk below $4,000 at one point before its dizzying rise to nearly $45,000 yesterday.

On the other hand, such a large investment could very quickly become very valuable, helping Tesla to maintain its status as a profitable company. After all, many Bitcoin bulls see the currency eventually hitting $150,000. 

Either way, the move is a game-changer and could be the catalyst for other big companies to move into Bitcoin. Also, by extension, every investor that owns Tesla (or even just an S&P 500 fund) has exposure to Bitcoin now as well.

 

MyWallSt makes it easy for you to pick winning stocks. Start your free trial with us today— it’s the best investment you’ll ever make.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the…



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