Elon Musk's Tesla Will Lose Money On Bitcoin Purchase, Predicts Peter Schiff: 'That Was A Mistake'
Portfolio Pulse from Aniket Verma
Economist Peter Schiff criticized Tesla's investment in Bitcoin, predicting financial losses for the company. Despite Tesla's Bitcoin holdings remaining unchanged in the second quarter and showing an unrealized gain, Schiff argued that using Bitcoin as a treasury asset is a mistake.
August 01, 2024 | 3:50 am
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Peter Schiff criticized Tesla's Bitcoin investment, predicting financial losses. Despite Tesla's Bitcoin holdings showing an unrealized gain, Schiff argues that using Bitcoin as a treasury asset is a mistake.
Schiff's criticism could negatively impact investor sentiment towards Tesla, especially those concerned about the volatility and risks associated with Bitcoin. This could lead to short-term downward pressure on Tesla's stock price.
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