Longtime Tesla bull and billionaire investor Ron Baron commented on the automaker’s decision to invest $1.5 billion in Bitcoin, releasing a statement on Monday morning. Baron said he “looks forward to learning the rationale” behind Tesla’s strategy to use Bitcoin, as it could become a payment method for the company’s products in the future. Elon Musk “has been commenting favorably about Bitcoin for a while, so the announcement regarding Bitcoin [is] not surprising,” Baron said in a statement read by CNBC on Monday morning’s Squawk Box. Musk, who has rallied behind numerous Cryptocurrencies recently, including Dogecoin, has been a supporter of Bitcoin for some time. The CEO had recently had #Bitcoin in his Twitter bio, but it has been removed.
Read Article