Tesla Buys Bitcoin… Should You? | | |
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After all of the craziness we've seen in 2021 — and we're barely more than a month in — it has been a slow news day to start this week. There is one headline dominating the news, however: Tesla buys Bitcoin.
I sat down with trading experts Roger Scott, James West and Adam Sarhan for our Monday-morning roundtable. Tesla and Bitcoin were certainly the topic of the day.
Just days after Tesla CEO Elon Musk added "#bitcoin" to his Twitter profile, it was announced in an SEC filing that the company had bought $1.5 billion worth of the cryptocurrency.
Since the announcement, Bitcoin's price has jumped to a record high of over $44,000 — up 17%.
Musk's company has been a trend setter in the electric vehicle market, and other manufacturers try to keep up. Now as Tesla buys Bitcoin in a huge amount, the company is all aboard the cryptocurrency train. | | |
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