Tesla sized up by analysts for any Bitcoin blowback

Wedbush Securities analyst Dan Ives tries to make sense of Tesla (TSLA) deciding to suspend allowing the use of Bitcoin (BTC-USD) by customers to buy the company's vehicles. "Tesla accepting transactions Bitcoin was viewed as a major step for the crypto market as now Tesla's/Musk reversal will have a short-term negative impact on Bitcoin and the crypto landscape as the market digests this confusing news from one of its biggest supporters, Musk," writes Ives. Ives doesn't see any significant blowback for the electric vehicle seller over the long term. "For Tesla and the stock, not accepting Bitcoin does not change the thesis or growth trajectory for the EV story, however it does add to the noise and volatility around the name at a time in which risk assets are under enormous selling pressure on the Street with Tesla leading the charge. Other analysts have issued favorable comments as well on