{"id":115712,"date":"2021-03-05T20:17:46","date_gmt":"2021-03-05T20:17:46","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115712"},"modified":"2021-03-05T20:17:46","modified_gmt":"2021-03-05T20:17:46","slug":"goldman-sachs-analyst-says-tesla-should-dump-bitcoin-for-stock-buyback","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/goldman-sachs-analyst-says-tesla-should-dump-bitcoin-for-stock-buyback\/","title":{"rendered":"Goldman Sachs Analyst Says Tesla Should Dump Bitcoin for Stock Buyback"},"content":{"rendered":"
Goldman Sachs analyst Gary Black says Tesla should dump its bitcoin in favor of buying back shares following the price pullback for TSLA.\u00a0<\/p>\n
In a tweet the former equities chief information officer (CIO) with Goldman Sachs, suggested Tesla could spark a wave of momentum by announcing the sale of its bitcoin in favor of a stock buyback.\u00a0<\/p>\n
Black\u2019s tweet followed on a month-long, 28% price dip for shares in Tesla after the electric car manufacturer announced a $1.5 billion investment into bitcoin.\u00a0<\/p>\n
Black continued, saying Tesla would generate more interest from the $8 trillion fund management sphere by announcing a stock buyback rather than pursuing investment in crypto-assets.\u00a0<\/p>\n
Shares in Michael Saylor\u2019s MicroStrategy have likewise suffered following the purchase of BTC. Despite falling more than 50 percent from its all-time high at the beginning of February, the company announced an additional investment of $15 million in BTC earlier in the week.\u00a0<\/p>\n
Featured Image Credit: Photo via Pixabay.com<\/em><\/p>\n The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.<\/em><\/p>\n