Reaction to Tesla’s bitcoin investment will be all over the place, says Mohamed El-Erian

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  • CNBC Television published this video item, entitled “Reaction to Tesla’s bitcoin investment will be all over the place, says Mohamed El-Erian” – below is their description.

    Tesla announced Monday it has bought $1.5 billion worth of bitcoin. In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.” Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, joined “Squawk Box” on Monday to discuss.

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    In This Story: Bitcoin

    Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.

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