Wedbush says Tesla’s bitcoin investment will spark further corporate adoption – and highlights 4 stocks already poised to gain from the crypto boom

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Tesla's bitcoin bet could be a "game changer" for the digital currency and the broader adoption of blockchain technology over the coming years, according to Wedbush. Given the still nascent and volatile nature around bitcoin, less than 5% of public companies will likely invest in bitcoin over the next twelve to eighteen months, but that could move "markedly higher" as more regulation and acceptance of the cryptocurrency takes hold in the future, a team of analysts said in a Monday note.  Bitcoin reached a new high above $50,000 Tuesday morning, bringing its year-to-date gains to 74% in a sign of the growing acceptance of the digital currency. According to Wedbush, the bitcoin mania is not simply a "fad," but a sign of the broader digital currency and blockchain space growing. Read more: GOLDMAN SACHS: These 40 heavily shorted stocks could be the next GameStop if retail traders target them - and the group has already nearly doubled over the past 3 months "...We believe...read more...