Founder and CEO of Tesla, Elon Musk, commented on the company\u2019s purchase of Bitcoin, hinting that it was not his decision. He called the investment ‘quite risky’.<\/p>\n
In an interview with Bloomberg, Binance chief Changpeng Zhao noted that despite Musk\u2019s enthusiasm for the Dogecoin project, Binance bought not this altcoin, but the first cryptocurrency worth $1.5 billion<\/a>.<\/p>\n Tesla\u2019s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P 500 company.<\/p>\n \u2014 Elon Musk (@elonmusk) February 19, 2021<\/a><\/p>\n<\/blockquote>\n Tesla\u2019s actions do not directly reflect my opinion. Owning some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for a company in the S&P 500,” he wrote in response.<\/p>\n<\/blockquote>\n He added that he is an engineer, not an investor, and does not own any shares in public companies other than Tesla.<\/p>\n However, when fiat currencies have negative real yields, only a fool would look elsewhere. Bitcoin is almost as nonsense as fiat money. The keyword is \u201calmost,\u201d he added.<\/p>\n<\/blockquote>\n Earlier, former Goldman Sachs investment chief Gary Black closed a long position in Tesla shares<\/a> after the company bought Bitcoin.<\/p>\n Analysts at JPMorgan doubted<\/a> that corporations would follow the automaker’s lead and invest in digital gold. They cited the asset\u2019s high volatility.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":" Founder and CEO of Tesla Elon Musk commented on the company’s purchase of Bitcoin, hinting that it was not his decision. He called the investment ‘quite risky’.<\/p>\n","protected":false},"author":1,"featured_media":36696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,52,1319],"class_list":["post-36695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-investments","tag-tesla"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36695"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36695\/revisions"}],"predecessor-version":[{"id":36697,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36695\/revisions\/36697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36696"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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