Tesla's $1.5B Bitcoin buy throws the cat amongst institutional pigeons

[Nostoman]

Elon Musk is either the hero or the villian of the year after Tesla's Bitcoin purchase polarized opinion among institutional investors.

Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price.

Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. 11.

“Elon Musk has exposed Tesla to immense mark-to-market risk,” wrote Garnry, adding that the main concern for investors was valuing Bitcoin’s worth over the long term, given the intense market volatility it’s been subject to since its creation.
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