Hitting the stocks' tweet spots: Bitcoin/Tesla saga strengthens argument for active management within portfolios

Fears grow of Twitter buzz chipping away at fundamentals

clock • 2 min read

Last month, click rates across financial news websites rocketed after the two biggest investment headlines of the year amalgamated.

Tesla founder Elon Musk revealed the firm had purchased $1.5bn of bitcoin and would begin to accept it as payment, leading to the cryptocurrency jumping by almost 50% against the dollar shortly after the news broke. Bitcoin, and indeed Tesla, have both been hitting the headlines for their ever-increasing valuations, with the former breaking through the $40,000 and $50,000 marks in January and February this year respectively, while Tesla's share price rose by some 695% in 2020. While both have maintained loyal investor fan bases over a number of years, a common criticism of bitcoin is ...

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