Janet Yellen has ‘bitcoin derangement syndrome’: Investor
Jeff Sica of Circle Squared Alternative Investments argues Treasury Secretary Janet Yellen is ‘scared to death’ of bitcoin because it’s seen as a threat to the Federal Reserve.
Tesla shares have fallen into a bear market, down over 20% from the recent high, and some analysts suggest the company's ties to bitcoin are to blame as the currency takes a beating following more cautious comments from U.S. Treasury Secretary Yellen.
The stock, down around 21% from its closing high of $883.09 on January 26, has backtracked along with the digital currency. Bitcoin, as of Tuesday, has slid about 17% falling to $48,170 after hitting its all-time high of $58,332, as tracked by Coindesk.