Up to 5% of public companies willing to follow Tesla’s Bitcoin buy (Dan Ives)



Dan Ives, managing director of Wedbush Securities, says that big companies are going to start building cash reserves in the form of Bitcoin and other crypto currencies very soon. A major change compared to previous years.

In an interview with CNBC last Monday, Ives said that Tesla’s exposure to Bitcoin was not  just “a fad” but part of a long term strategy. According to him, Tesla could double down on his Bitcoin investment in the coming weeks or months…

Ives was referring to Tesla’s recent decision of allocating $1.5 billion to Bitcoin and to start accepting the digital asset as a form of payment. At the time of the interview, Tesla had made around $1 billion dollars in paper gains on its BTC trade. “That is more than what they have made from a profit with all their electric cars sales in 2020” he said.

Wedbush Securities estimates that nearly 5% of publicly listed companies will invest massively on Bitcoin and other digital currencies over the next 12 months. Dans Ives added that the Bitcoin is not a fad,  but rather the start of a new age on the digital currency front.”

To be continued!!

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