Tesla Bitcoin Buy Only Beginning Of Corporate Crypto Demand
Feb 8, 2021
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Tesla news sent Bitcoin and crypto soaring this morning. We see this as an important moment for market validation but are not surprised by the move. In our 2021 Crypto Outlook report we saw corporate crypto buyers as a key catalyst for demand (slide 19: factor #16) and reason for raising our price target on Bitcoin from $40k to $100k. We’re reiterating our bullish view on crypto.
● Tesla $1.5 billion Bitcoin purchase news sends crypto prices to new heights. This morning, Tesla disclosed a purchase of Bitcoin in its latest annual report and announced that the company will start accepti...