Tesla has been digging into the cryptocurrency sector over the past year. Tesla invested $1.5 billion on Bitcoin earlier this year. Shortly after, the automaker began taking Bitcoin as a form of payment for new vehicles. Bitcoin, according to JPMorgan CEO Jamie Dimon, is worthless. Morgan Stanley CEO James Gorman said on Thursday that cryptocurrency isn't a fad, but he's not confident about the price outlook. Fidelity's director of global macro, Jurrien Timmer, is more certain about bitcoin's future: $100,000 by 2023.
Bitcoin prices have risen to levels not seen since May of this year, fueled by expectations of increased institutional adoption and the possibility of new bitcoin ETFs being approved by the SEC soon. Bitcoin prices have risen by almost 80% from their late-July lows, which were fuelled by regulatory concerns around the world. Bitcoin prices have risen roughly 18% in just one month. Other cryptos are also seeing bullish swings. Over the last month, shibu-inu and ethereum have risen by 328 percent and 12 percent, respectively.
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