Investors cautious on Tesla's $1.5 bn bitcoin splurge, question move

Topics Tesla | Bitcoin


By April Joyner and Kate Duguid (Reuters) - Investors in high-flying electric carmaker Tesla Inc are questioning whether Elon Musk's $1.5 billion outlay into bitcoin will be as good for the company as it has been for the cryptocurrency.

Tesla's disclosure on Monday that it had moved nearly 8% of its reserves into bitcoin sent the price of the cryptocurrency to all-time highs, up more than 16% this week, while Tesla's shares are down nearly 6%. Others may follow Tesla's lead, with Twitter Inc's chief financial officer.

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