Is Tesla the Tip of the Bitcoin Iceberg? And Can the Reopening Trade Rally on?

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 8 February 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tesla announced it bought $1.5 billion in the popular cryptocurrency, sending the price of Bitcoin to all-time highs. But what happens if other companies start buying up the digital coin too? And with airlines rallying along with the broader markets today, will the reopening rally continue to drive stocks? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Melissa Lee and this is fast money tonight's Trader Line of Guaidami, Tim Seymour, Karen
0:05.7	Feynman and Dan Nathen tonight on fast, another record breaker on Wall Street, all three
0:09.5	major averages closing at all time highs as the reopening rally rolls on will break down
0:13.8	how our traders are playing the historic moves straight ahead.
0:16.3	Plus, Target hits the bull's eye, the retailer jumping more than 2.5% today.
0:20.5	Thanks to some big news on stretchy pants.
0:23.5	You heard that right.
0:24.5	We will explain.
0:25.5	And later, game on.
0:26.5	She has a take to interactive on the move in the after our session on earnings.
0:29.3	We'll bring you the big numbers from its quarter, but we start off with a Bitcoin
0:33.7	bombshell and the return of the fast money Bitcoin bug.
0:37.5	Yes, it's back.
0:39.0	Tesla announcing today it bought one and a half billion dollars of the cryptocurrency
0:43.2	Tesla saying it made the purchase for the ability to further diversify and maximize returns
0:49.2	on our cash.
0:50.2	The new sending Tesla shares higher by more than a percent in Bitcoin to its highest
0:54.9	level on record.
0:55.9	So tonight, we start the show with a simple question, why?
1:01.6	Why should Tesla go up on this news?
1:03.3	Why should Bitcoin go up by 14.5% on this news?
1:06.9	Guy, what do you say?
	...

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