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

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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…



Source cnbc.com

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