Why bitcoin and cryptocurrencies are continuing to tick higher

Robert Hackett, Senior Writer at Fortune Magazine, joins Worldwide Exchange to discuss Bitcon's continued rise, and where else investors can look in the crypto space. Subscribe to CNBC PRO for access to investor and analyst insights on bitcoin and more: https://cnb.cx/2BT2E7y

Ark Invest believes Tesla’s purchase of billions in bitcoin will lead to more corporate and institutional investor adoption, driving the price higher and make it harder for governments to shut it down.

“This is a pretty big tipping point that legitimizes bitcoin beyond just this crypto industry that for so long has just been beating the drum,” said Ark crypto asset analyst Yassine Elmandjra in a phone interview with CNBC. “Now we’re getting major players that are considering this a worthy diversifier. I think this is going to be a very interesting catalyst that will encourage other corporations to consider this a strategic allocation.”

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n...

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook:
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

https://www.cnbc.com/select/best-cred...

#CNBC
#CNBCTV