DINNER PARTY INTEL: Elon Musk’s cryptic bet
11 February 2021 - 05:00
1. Musk’s cryptic bet
Bitcoin reached a record high above $48,000 after it emerged that Tesla had invested $1.5bn in the cryptocurrency. Elon Musk’s electric car manufacturer also plans to accept bitcoin as payment for its vehicles, a major endorsement. Bitcoin prices fell 63% in a sell-off last March. They have since surged tenfold and hit $46,307.91 on Tuesday. Tesla’s shares lifted 1% on news of the bet. But the move makes almost no sense to experts in corporate treasury management, says the Financial Times...
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