Focus on Tesla problems, not on the BTC native show, says the analyst to Elon Musk
Focus on Tesla problems, not on the BTC native show, says the analyst to Elon Musk
- Tesla bought Bitcoin for $ 1.5 billion last year, sold BTC worth $ 100 million and now keeps crypto worth $ 2 billion, but an analyst says that this is just a secondary location.
- He asked Elon Musk and Co. to forget the Bitcoin native show and instead concentrate on the challenges of Tesla, such as the delivery problems.
Elon Musk should forget the Bitcoin nonsense show and concentrate on solving the real challenges in front of which Tesla is standing, an analyst claimed. The analyst believes that the electric vehicle giant has to solve more urgent problems and does not need the distraction that Musk has caused with its 1.5 billion dollar BTC bet.
Exactly a year ago, Tesla made headlines because it was the first S&P 500 company to publicly support Bitcoin, with Musk bought the crypto worth $ 1.5 billion. Just two weeks later, the investment had paid off as a BTC after the Tesla support rapidly up (although the profits were only on paper, since it did not sell his BTC at that time).The company had also indicated that it would begin to accept payments in BTC for its electric vehicles. After a counter reaction to Tesla, a leading provider of green energy, the Bitcoin, an energy guesser, supported, but decided to hire the BTC payments.
All of this was a secondary location, says an analyst. In conversation with Yahoo Finance, Dan Ives called the Bitcoin project a distraction and asked Musk to concentrate on his core business-to lead the EV revolution. Ives is analyst at Wedbush Securities, an investment company based in Los Angeles with over 7,500 customers and an managed assets of $ 4 billion.
"Forget the BTC native show Elon"
oves told yahoo finance:
Tesla doubles his Bitcoin strategy despite volatility and concerns from the investors. In our opinion, a distraction and a secondary location from the Tesla core history remains in this risk-averse environment.
Tesla has been one of the stocks with the best performance in recent years. This despite the vehicle recalls, a number of discrimination lawsuits and social media contributions that show that the latest self-driving software is aligning a vehicle to a cyclist.
And then there is the constant pension challenge with which the company has been faced with confronted for some time. The demand for Tesla cars has been unbroken for years, but the company could not cover it.
Tesla should concentrate on such problems, not on distraction by Bitcoin, says Ives.
The latest criticism of the analyst ties in with an attack on the participation of Tesla Bitcoin from last year, in which he wrote:
for Tesla and the share, the non-acceptance of Bitcoin does not change the thesis or the growth course of EV history, but contributes to the noise and volatility around the name, at a time when risk systems are under enormous sales on the street, the accusation leads.
Bitcoin increased by 1.1 percent last day and 18.84 percent last week and is traded at $ 44,060 at the time of printing.
Source: Crypto-news-flash.com
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