Wedbush Securities Expects 5% of Public Companies to Buy Bitcoin

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Analysts at Wedbush Securities think less than 5% of publicly traded companies will follow Tesla into buying bitcoin. In a research note Daniel Ives, a Wedbush managing director and a tech analyst on Wall Street for the last two decades, says: “While the bitcoin investment is a sideshow for Tesla, its clearly been a good initial investment and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months. We still expect less than 5% of public companies will head down this route until more regulatory goal posts are put in place around the crypto market, which is clearly starting to gain more mainstream adoption in 2021 and we believe will have a seismic impact for blockchain, payments, banks, and semis in the years to come.” The global stock market cap is about $100 trillion, so 5% of that would be…

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