Public Companies Will Mirror Tesla’s Bitcoin Investment, Says Wealth Management Exec – Here’s Why

Public Companies Will Mirror Tesla’s Bitcoin Investment, Says Wealth Management Exec – Here’s Why


Dan Ives, the senior equities analyst at investment banking firm Wedbush Securities, says he expects more publicly-traded companies to jump on the Bitcoin bandwagon in the coming months.

In a new CNBC Squawk Box interview, Ives says he believes Tesla will add more to its $1.5 billion Bitcoin position as the electric vehicle maker sees tremendous results from its initial investment.

“I think this is not just a fad. I think Tesla’s going to continue to double down on its Bitcoin investment and you’re seeing from a transaction perspective as well. But no doubt, they’ve made about a billion dollars on paper from Bitcoin. That’s more they made from profit in all of EV (electric vehicle) sales 2020. I think it just speaks to what we’re seeing in terms of this market…

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They’re going to dive into the deep end of the pool in Bitcoin because they’re not just doing it from an investment perspective but from a

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