{"id":176424,"date":"2021-02-12T06:02:17","date_gmt":"2021-02-12T03:02:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/50b-wiped-from-tesla-after-btc-buy-but-mastercard-and-twitter-surge\/"},"modified":"2021-02-12T06:02:17","modified_gmt":"2021-02-12T03:02:17","slug":"50b-wiped-from-tesla-after-btc-buy-but-mastercard-and-twitter-surge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/50b-wiped-from-tesla-after-btc-buy-but-mastercard-and-twitter-surge\/","title":{"rendered":"# $50B wiped from Tesla after BTC buy \u2014 but MasterCard and Twitter surge"},"content":{"rendered":"

“# $50B wiped from Tesla after BTC buy \u2014 but MasterCard and Twitter<\/a> surge <\/strong>”
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Electric car manufacturer Tesla has seen more than $55 billion wiped from its market cap since announcing the purchase of $1.5 billion in Bitcoin four days ago \u2014 but Twitter and MasterCard have headed in the other direction.<\/p>\n

Since Tesla\u2019s announcement on Monday, the electric car giant\u2019s stock price has dropped<\/a> 7% from $869.52 ($834.6 billion market cap). It is currently trading at $811.66 ($779 billion market cap). <\/p>\n

While there may be other factors<\/a> behind the share price drop, some investors, such as Baker Avenue Wealth Management chief strategist King Lip, are concerned that holding 8% of the company’s cash reserve in a volatile asset is an unnecessary risk, stating<\/a>: <\/p>\n

\u201cIt will add volatility to the stock due to exposure to Bitcoin. This is better for Bitcoin than it is for Tesla.\u201d<\/p><\/blockquote>\n

Tesla stock has been known to disregard the opinion of financial analysts in general<\/a> with financial magazine Barron\u2019s stating<\/a> no more than 40% of analysts have rated its shares a \u2018Buy\u2019 since 2018.<\/p>\n

Former Bernstein analyst and Bitcoin skeptic Gary Black stated<\/a> two weeks earlier that he would sell his Tesla stock if they added Bitcoin to the balance sheet. True to his word, he announced<\/a> his exit on Twitter, but also added that he will get back in:<\/p>\n

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3\/ I\u2019ve made a lot of money on $TSLA<\/a> over the past 18 months, and will look for a lower entry point to get back in. I will continue to post my views on Twitter about TSLA volumes, earnings and other developments. I thank everyone for your past and hopefully continued support.<\/p>\n

\u2014 Gary Black (@garyblack00) February 8, 2021<\/a><\/p><\/blockquote>\n