Tesla’s strategic embrace of Bitcoin (BTC) will have a dramatic impact on corporate adoption of the digital asset, according to Dan Ives of Wedbush Securities.
In a Monday interview with CNBC, Ives said Tesla’s exposure to Bitcoin is “not just a fad,” but part of a long-term strategy that’s driven by an investment thesis and business thesis.
“I think Tesla is going to double down on its Bitcoin investment,” he said.
“No doubt this is something @elonmusk and @Tesla they’re going to dive into the deep end of the pool on #bitcoin because they’re not just doing it from an investment perspective, but from a transaction perspective,” says Wedbush’s Dan Ives on $TSLA and #btc. pic.twitter.com/0Wt2IHCdZI
— Squawk Box (@SquawkCNBC) February 22, 2021
“No double this is something Elon Musk and Tesla […] they’re going to dive into the deep end of the pool on Bitcoin because they’re not just doing it from an investment perspective but