Ron Baron says Tesla bitcoin investment ‘not surprising,’ wants to explore rationale


Tesla investor Ron Baron told CNBC on Monday he isn’t surprised about the electric car maker’s bitcoin purchase, but he cautioned that he wants explore the decision-making process further before making a judgment.

Tesla announced in a filing Monday with the Securities and Exchange Commission it has bought $1.5 billion worth of bitcoin and plans to begin accepting the cryptocurrency has payment for its products.

Tesla CEO Elon Musk “has been commenting favorably about bitcoin for a while, so the announcement regarding bitcoin [is] not surprising,” Baron told “Squawk Box” co-host Becky Quick.

Baron has been bullish on Tesla for years and his eponymous investment firm, Baron Capital, holds a…


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