El-Erian sees Tesla’s bitcoin move as a game changer for investors
- Date: 08-Feb-2021
- Source: CNBC
- Sector:Financial Markets
- Country:Middle East
El-Erian sees Tesla’s bitcoin move as a game changer for investors
Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.
Elon Musk's deeper foray into bitcoin helps legitimize its standing as a real currency and provides a real boost to investors, Allianz Chief Economic Advisor Mohamed El-Erian said Monday.
Bitcoin's price soared following disclosure that Musk's Tesla bought $1.5 billion of the cryptocurrency and will begin accepting it as payment.
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