In recent weeks, he’s been pumping enthusiasm for Bitcoin and cryptocurrencies on Twitter, and the more he talks, the higher the prices climb. On Jan. 29, Bitcoin’s price shot up 20% after he added "#bitcoin” to his Twitter bio. Today a Bitcoin is worth about $47,000; in March, it was about $5,000. A Bitcoin crash could make it even harder for Tesla to eke out quarterly profits, she said. Bitcoin isn’t the only speculative investment Musk has thrown his weight behind lately.

Source: Los Angeles Times February 08, 2021 15:54 UTC