Elon Musk’s bitcoin bet fuels gains in companies already invested

Shares of companies that have invested in bitcoin have vastly outperformed on Wall Street in 2021 and are extending their gains thanks to Tesla’s $1.5 billion bet on the soaring digital currency.
The price of bitcoin hit a record high over $48,000 on Tuesday in a two-day surge after Tesla said on Monday that it had bought the digital currency and would soon accept it as a form of payment for cars.
A handful of bitcoin-related companies listed on U.S. stock exchanges were also buoyed by the disclosure that Tesla CEO Elon Musk, a fan of cryptocurrencies, added bitcoin to the electric car maker’s balance sheet.
Graphic: Soaring shares of companies that own bitcoin https://graphics.reuters.com/CRYPTO-CURRENCIES/COMPANIES/nmopaznbxva/chart.png