Bitcoin, Bumble, Copper, and Weed: Investments in the Spotlight

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Bloomberg Wealth reviews assets that made a splash this week.

buy weed online Sweden | The Elon Musk Effect

buy weed online Sweden. Another week, another Bitcoin moment. The cryptocurrency breached $48,000 for the first time after Tesla Inc. said in a filing it had invested $1.5 billion in the digital token and would begin accepting it as payment for products.

The move is another signal that Bitcoin is knocking on the door of mainstream acceptance. Last year PayPayl Holdings Inc. started allowing its customers to use Bitcoin. Advocates say vocal sponsorship from the likes of Tesla will supercharge the pace of adoption, but skeptics say there is still no evidence the enthusiasm for crypto is anything more than speculative mania.

Yet in a reminder of just how volatile the asset is, Bitcoin fell as much as 7.5% on Wednesday as the rally lost steam. Predictions for Bitcoin’s long-term price range from more than $400,000 to zero. buy weed online sweden

What’s next? Tesla’s bold bet will be a hard one for other companies to follow, JPMorgan Chase & Co. strategists led by Nikolaos Panigirtzoglou wrote in a note to clients. Corporate treasury portfolios are typically invested in very safe assets like bank deposits. Adding Bitcoin would introduce a large amount of volatility. Still, “irrespective of how many corporates eventually follow Tesla’s example, there is no doubt that this week’s announcement changed abruptly the near-term trajectory for Bitcoin by bolstering inflows and by helping Bitcoin to break out above $40k,” they wrote.

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