| Tesla bought Bitcoin. It feels as if that sentence should properly begin with "Imagine if ..." and a wry chuckle. But no. Imagine no longer. Tesla Inc.'s annual report disclosed the electric-car maker updated its investment policy last month and then bought $1.5 billion of the crypto. That news added roughly $5,000, or 14%, to said crypto on Monday morning, sending it to an all-time high. Tesla's own stock rose about 3%, adding roughly $11 billion in market cap, because — well, probably because of this. I don't know. On the face of it, a change in investment policy that simply by its disclosure adds hundreds of millions of dollars in value to a company's portfolio — and billions to the company's market cap — in a sort-of virtual virtuous circle seems like a winning change. Ordinarily, such things lie forgotten in the 10-K. Yet it's hard to shake the feeling that it is just inadvisable to be (forgive me) crossing the memes like this. It's as if the earth has shifted a billionth of a degree on its axis or we are approaching some singularity in the capital markets with Lovecraftian overtones. Read the whole thing. Why Elon Musk's Dogecoin Tweets Have Hit a Bitcoin Nerve — Lionel Laurent The Future Will Be Decentralized — Tyler Cowen Don't Spend Your Covid-19 Stimulus Check — Teresa Ghilarducci Elon Musk Picks the Money Now — Matt Levine Oil's Recovery Is Too Fast for Its Own Good — Julian Lee What If GameStop Actually Thrives After the Gamestonk Saga? — Tae Kim History Tells Us to Worry About Inflation — Ferdinando Giugliano Trump's Lawyers Are Helping Advance Impeachment's Purpose — Noah Feldman Republicans' Five Bad Excuses for Not Convicting Trump — Ramesh Ponnuru This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership. | 
⇉〖OpenLoad〗 2020 Superintelligence PelÃcula Completa En LÃnea released 2020. story: La vida de Carol Peters se trastorna cuando es selecci...
Post a Comment