Business
The Bitcoin Bubble Could Be Popping. It’s a Headwind for Some Highflying Stocks. – Barron’s
Tesla, PayPal, and Square, to name just a few, are trading in tighter correlation to the digital currency.
A bear market in Bitcoin may be forming, potentially contributing to the selloff in some highflying stocksif not the broader market. Tesla
(ticker:
Tesla
),
PayPal Holdings
(PYPL), and
Square
(
Square
), to name just a few, are trading in tighter correlation to the digital currency. Tesla recently purchased $1.5 billion of the digital currency, and said it plans to accept it as payment, fueling a surge in its stock. High-growth stocks are under pressure due to fears of rising interest…
