Elon Musk’s Tesla Loses Money in Bitcoin Rout

Published by
The Street

By Luc Olinga The manufacturer of high-end electric vehicles had invested in bitcoin in February 2021. The few established companies that have added bitcoin to their balance sheets are now beginning to see this investment go awry. This now takes in Tesla (TSLA) – Get Tesla Inc Report, the market leader in high-end electric vehicles. Tesla invested $1.5 billion in virtual currency on Feb. 8, 2021, and said it was beginning to accept it as payment for buying Tesla cars. The move came days after Chief Executive Elon Musk temporarily changed his Twitter mini-description to simply #bitcoin. The ann…

Read More