lucid is going to need it if they want to 10 con tesla. -- want to take on tesla.getting the lights back on in texas, but how do we prevent a similar crisis in the your? future? this is bloomberg. ♪ >> inventory optimization, predictive maintenance, anti-mott -- money laundering, operational readiness, precision health care, c three. 8 --. ai is ai built transform your business at its core. this is enterprise ai. >> folks, the world's first fully electric vehicle has reached the finish line. >> >> you don't have to be a deep learning engineer to help make the world a smarter place. come an agent of innovation with invesco to -- invesco q q q. >> the moment you sponsor a job on indeed, you get a short list of quality candidates. claim your first $75 credit when you post a job on indeed. >> well we have a safety net -- >> we will be ok, right? ♪ amanda: this is bloomberg markets. i am amanda lange with matt miller. millions are still without power in texas. with the lack out, many are left wondering, can it be prevented in the future? i want to start their bob, becau

i don't need tesla to do it for me and by the way, shouldn't tesla be in cash management?ions, but for bitcoin holders, today is good news for them. >> i guess, mohamed, one common thread behind all of this is debase-ment of traditional traditional currencies does just further endorsement of their alternative increase momentum behind the downside argument for things like the dollar >> maybe at the margin but i don't think as a consequential effect but what is consequential is that the argument for bitcoins is evolving it used to be a negative argument you don't trust the system invest in bitcoins you're afraid of inflation invest in bitcoins yields are too low on treasurys. put bitcoin in your risk mitigation bucket. now, suddenly, we have those reasons and tesla says there are positive reasons, form of payment, investment vehicle, so that is the pivot, and that's why you're seeing bitcoin prices at 44,000. >> what's your take, mohamed, on the very quick bounce we had to new highs after that 4% pullback and whether it puts us into overstretch, overbought type levels >> you

many clearly were -- buying the dip into tesla today. on the other side of the story, you also have not so much tesla, but when you think of the big-tech companies, big faang companies, they are strong companies with strong balance sheets. on the speculative side, you look at tesla and companies that belong to ark, for example, how many people believe in those long-term growth story narratives but these companies will really grow, and it is a secular growth trend going down the road? it makes me wonder if the? two can rise in tandem. joe: you mentioned cathie wood comments to bloomberg radio just now. how much will you be watching some of those other ark names to see if there is any sort of ripple pressure building through this family of funds? sarah: very closely. it seems like every day now cathie wood is talking about ark and talking about tesla. you also think about some of the other names within the ark fund that have large weightings, the likes of roku, square and tele-dock, companies that have performed well over the last year. if

microsoft, apple, tesla.ooking at the chart in front of you, the index in front of you, the nasdaq 100 is taking it on the chin by the most in three weeks. all of those grouped together. flip up the board and i want to take a look at the semiconductor index. taking a look at a 20 dhr and you will really see that you have started to pare back some of those gains. -- gains that you saw it earlier this month. the biden administration helping out, getting a little bit of a reality check. you can look at some of the individual stock stories. as much as 19% for churchill capital, a spac that was reported to go public with lucid motors as soon this week. one of our reporters, ed ludlow. elon musk tweeting the prices of bitcoin. tesla really taking a hit. they seem a little bit high. that tweet itself is taking a hit. a quick nod to those stay-at-home stocks. zoom and peloton taking a bit of a head as well. -- hit as well. let's go to that bitcoin chart. look at what it is doing. coming off a record high after -- rec

well tesla obviously is hoping to make some money off of investing and coyne. has really aligned himself with this crowd he's said just recently that he thinks that it's going to become more of a conventional financial instrument so he sees a future queen in sort of the same way he did know after vehicles so it is very unusual and i would say that queen is by no means a stable investment right now and this is quite a break from tradition for a company to be investing in something like queen because usually with cash they hold that in either actual currencies are very very safe assets like a government bonds so it's not it's not something we've seen very often to see a company speculating like this on a digital currency but even so we've seen the share price of tesla going up as well after this announcement as i think there is a bit of overlap between the investors and also the coin crowd so i think for a tesla they're seeing this as a good bet for the future but for more traditional companies more of a risk so don't you think other companies will. i'd say for f

microstrategy and now tesla.hen he talks, others listen and this will be a big move in terms of the corporate perspective for tesla, just another potential from a momentum perspective. emily: you are one of the people who have to try to figure out what it actually means. what is your take on these dogecoin tweets, and does it actually matter for the business? >> you do not want a sideshow to disrupt what is happening in the golden age of ev's. right now, they are in a leadership position in the market that is going to be in the trillions with gm and others going after it. that is the one thing on bitcoin, transactions be a , leader. we've seen it across the board, but you do not want to the sideshow and some of the tweets to overshadow the story that is happening right now. that continues to be a balancing act for investors, especially when you look at musk and everything he's accomplished. emily: right. i do want to move on to apple, a lot of speculation through the weekend as to whether apple is in talks with h

microstrategy and now tesla.his is going to be a big move in terms of the currency from a corporate perspective as an investment, and tesla is just another part. emily: you are one of the people who have to try to figure out what it actually means. what is your take on these dogecoin tweets, and doesn't actually matter for the business? -- does it actually matter for the business? dan: you do not want a sideshow. tesla, right now, they are in a leadership position in the market, with gm and others going after it. i think that is the one thing. bitcoin transactions, be a leader. but you do not want to the sideshow. the tweets overshadow the story that is happening right now. investors, especially when you look at musk and others -- emily: right. i do want to move on to apple, a lot of speculation over the weekend as to whether apple is in talks with hyundai and kia about an electric self-driving car, both of those companies coming forward, saying they are not in talks with apple. what example -- exactly is happeni

bought quote unquote a hot of tesla today. we were talking on the earlier call today about the strange, you know, tick in tesla along with heavy volume at a certain level. >> yeah. so with etfs, someone imagines aetf there's sometime during the day where effectively the market makers in etf are creating new etfs tesla, i believe, is around the 10% position in the arkk, so around 9:50 to morning we saw the bottom for tesla at around 619, 620 a hyundai average, by the way, that tesla is only traded through twice, really since it was a the $50 stock. i know that seems extraordinary. that was during the period of the wipeout of the pandemic from lid to late march. largely that move in the stock tells you how extraordinary, almost 32% over -- off the top and i don't know, close to 20% in two days to that interday low. rallied up almost 13% but by 10:00, 11:00 a.m., the stock was back to where it was today, what a wild ride. i guess that seems almost redundant to say with tesla, but the fact that she was back in buying, we know she'

i want to get to tesla.hares wiping out their year-to-year gains the decline , after comments by elon musk that the price of bitcoin seemed high. tesla invested $1.5 billion in the cryptocurrency. i want to bring in our guest. what is your take? dan: it continues to be this double-edged sword with bitcoin. they are diving into the deep of the pool with bitcoin, and it is still a $750 million profit but it adds more volatility to the name and that is what you are seeing take place in the last 48 hours. emily: it was not just elon musk who said the price seems high. i spoke to bill gates who cautioned against investments in bitcoin at all. take a listen. bill: elon has tons of money and he is sophisticated, so i do not worry that his bitcoin will randomly go up and down. i do think people get bought into the manias who may not have as much money to spare, so i am not bullish on bitcoin and my general thought would be, if you have less money than elon, you should probably watch out. emily: not mincing words the

you're buying a tesla or not buying a tesla, a power wall or not, either way whether it's with bitcoinhis generated a lot of attention. is this a marketing move, part of the story that really doesn't have to do with the fundamental nuts and bolts >> all of the above, jon let's get perspective. $1.5 billion is a lot of money to someone like you and me or an average investor, an average company, even. it's 0.2% of tesla's market cap. imagine if you, jon, invested 0.2 of your net worth in bitcoin. it's something, right? i think a bit of marketing in there and long-term risk management paradoxically you may see well healed companies wade in to the universe does that make sense >> in aggregate supply chains and input cost what do you tell investors who are looking at the industry as a whole and ask where, for example, are all of these batteries going to come from >> that's our number one question, carl a lot of questions on chip shortage we're not going to be talking chip shortage later this year. there are aspects the united states needs to think about from a national security perspective

should tesla be more upfront? bill: tesla reduces your carbon footprint.they get an electric car, as we convert to be zero emissions, it is one of the few categories that we see a path. it is only about 7% of emissions that come from passenger cars globally. you cannot declare victory there , but as the cost comes down and the range goes up, you will feel like a gasoline car is less maintenance, quieter -- the market will eventually take care of this. you will not need regulations to get to that point. every category needs to go through that process, bringing the green premium down dramatically. emily: i understand you own a porsche electric car, yourself. i wonder if there is any truth to that. bill: i think tesla is an amazing company. it is great and i have a lot of relatives who own tesla, so i help to buy for them. nothing but positive thoughts for tesla and its role. emily: i am curious about your thoughts. tesla can make more money from its bitcoin investment then profits from electric cars and all of 20/20. what is your take on that? -- 2020. what

we bought a lot of tesla today across any strategy that holds tesla. be publishing in a few weeks a report updating our thoughts about tesla, our excitement about the potential of the ride-hailing service as a bridge to an autonomous service. and the higher odds that autonomous is going to happen for tesla. part of the reason for the higher odds is now that waymo is on the road autonomously, we know it can be done. tesla has so much more data than google or anyone else, or everyone else combined, that puts them in the pole position. shery: we have an alert on the bloomberg happening right now. president biden and justin trudeau are speaking after their first bilateral meeting. president biden saying he had a good meeting with his canadian counterpart, and that the canadians -- president biden saying the u.s. will work with canada on the release of the china detainees. remember, they had been arrested two years ago, shortly after candidate detained the huawei cfo. prime minister trudeau also thinking joe biden for his support on canadians detained in ch

tesla actually responded to this.a representative of the company saying they acknowledge and accept the findings. they say they will do better. that is a communication strategy which tesla does not employ in other jurisdictions. paul: west coast reporter ed ludlow in san francisco. let's get to karina mitchell for a check of the first word headlines. karina: the world health organization is preparing to leave wuhan after an investigation into the origins of the coronavirus outbreak more than one year ago. the team will analyze findings from that trip and is expected to release details later this week. they visited the institute of her elegy and key hospitals as well as the market at the center of the outbreak. they say they found important clues. lawyers for former president trump have laid out there impeachment defense, arguing the trial is unconstitutional but he did not incite insurrection and that democrats have made similar incendiary remarks. attorneys say the charge should be thrown out because it violates his

>> tesla and bitcoin can be seen as lofty ambitions.he expectation is that eventually electric vehicles will take over and that underpins tesla's 750% stock advance over the past year despite really only beginning to show signs of churning sustainable profit. the thing goes for bitcoin. it is not necessarily fundamentally driven at this point. expectations that crypto is going to become more mainstream. we're seeing central banks potentially targeting that space but that is driving these expect eagses. even if we're not able to deter the fundamentals driven by it today. anna: other businesses deciding to diversify their cash as well. let me ask you about today, we were talking about inflation this week. how much is too much inflation? do we translate that into what level of inflation will peep -- that the fed is doing with to do? >> that is the case. how much can this inflation optimism drive nominal yields higher and at what point is there a threshold, will yields begin to dampen prospects for stock returns? at this point it is a case

yes, it's back tesla announcing today it bought $1.5 billion of the cryptocurrency tesla saying it made the purchase for the ability to further maximize returns on our cash the news sending tesla shares higher by more than a percent and bitcoin to its highest level on record. tonight we start the show with a simple question why. why should tesla go up on this news why should bitcoin go up by 14.5% on this news guy, what do you say >> well, you've seen it before we saw with microstrategies, i mean, that was i think $175 stock prior to the offering that they did michael sailer being the ceo there and the stock closed over 1,000 today so the why answer is because that's what the market is geeked up for and that's how the market has been trading. seen a number of different securities so to a certain extent it makes sense so as long as bitcoin does the grind higher those stocks go up, we will not exponentially, well maybe to a magnifiable 1.5% times works on the downside as well. i have no idea what bitcoin is going to do but if we do the back and forth to 20,000 microstrategies $1,000, prob

in a one term, and tesla said that they may hold other digital currencies as well as gold. they have $19.4 billion in cash and securities on hand at least that is what they had at the end of 2020. brian, back to you. >> all right. phil, we are not done. light coin lebeau, and we are not done yet. here is the thing, they have to buy all of the bitcoin, because they have to create their own mini bank. and so you have to have it, because if somebody out there, the viewers, they want to buy a car with bitcoin, they have to transact and make sure they can -- >> i understand that. >> and they have to have a cash register full to give them change, and that is the basic premise? >> yes, you want to b ande, and were talking to wilf this morning that if you were selling cars in a particular country, you want to have a market in that particular currency. so if you were selling a car in bitcoin, you want to have the bitcoin reserves on hand in orderer to make the transaction take place, and we're not sure how many people may buy a tesla using bitcoin, but look, at the end of the day, i

tesla falling along with it. losing its year-to-date gains. hear from a top analyst how tied to the crypto currency tesla's stock is there you see it down almost 4%. back after the earnings reports. crocs ceo with an exclusive interview. courtney, it's all yours. >> thanks, tyler great to be with you here on "power lunch." i'm courtney reagan and we begin with breaking news federal reserve chair jerome powell steve liesman joining us now with more. hi, steve. >> jake directly addressing two main market concerns on inflation and higher yields in his testimony on the hill. he made clear he does not see either as a reason to change the fed's easy monetary policy until the economy recovers more strongly from the pandemic >> it's amazing that we can continue to support the economy, give it the support it needs we're still 10 million jobs below the level of payroll jobs before the crisis. there's still a long way to go >> powell said the fed expects inflation to rise but believes the increase will be temporary in any event, repeated that the fed's e

let start off with tesla nadine, where do you stand on tesla?arder one because it a passion play for a lot of investors, so for those folks who are doing fundamental investing, i think it's less of a focus on this. you know, when we run it through the risk ranges, it actually pretty good now up 11, down seven. it's a volatile stock. you have to be able to call it stomach that type of volatility. that's pretty good odds. in terms of owning it, we don't own it, as an investor, that's obviously something you have to be able to trade around. >> guy >> great go back to may of last year. i think it was may 3rd when tesla presplit was trading at an all time high of 703 and elon musk tweeted paraphrasing, being too exp expensive or too high. the stock went down for a day. a week later was north of 800. that told me all i needed to know this is one of kathy woods'. i believe she thinks this is a ten bagger from here and she's probably going to wind up being right. there is going to be pain along the way. that may date taught you everything you need to kn

cathy: we bought a lot of tesla today across any strategy that holds tesla, and we will be publishingw weeks a report updating our thoughts about tesla and the potential of the ride-hailing service as a bridge to an autonomous service. greg: joining us with more is carol massar. you spoke with cathie. an interesting time given the moves we have seen. carole: hi, everybody. cathie wood started back in 2014. her tesla story is consistent and once she has been firm about, especially when other market participants or investors were not keen on tesla for many years. we know there was a pre-volatile stock trade, and cathie and her team are consistent in terms of thinking tesla is ahead of the automotive market. matt, you follow the automotive industry. you know she has been front and center on tesla. safe to say that tesla did shakeup the overall auto industry. in terms of dips, that is what cathie sees as potential buying opportunities. she told us specifically she plans to continue to see those opportunities for tesla. she brought over 240,000 shares of tesla yesterday -- she bought to ov

if the vision is for the car, the tesla, they go with it and tesla's car is up.on of value too, right? stuart: that's the point, isn't it? how do you know? you bought 1 1/2 billion dollars worth of bitcoin now. how do you know what it is worth a month from now or a year from now? susan: if i want to invest in bitcoin why would i invest in tesla. i would buy bitcoin itself. stuart: why didn't he tell the sec. susan: this was in the filing this morning but you're saying because -- all the tweeting -- stuart: why didn't he reveal it before? he is tweeting about all these cryptos, at the same time looks like he has been buying cryptos. he should have said, i'm buying and -- susan: the company, i'm not personally buying. maybe he es. but the company itself. if there is maybe a seg a goings between tesla and him as a director and ceo of a company. stuart: that is a fine distinction, isn't. >> fine distinction. stuart: he doesn't care. he does not care. he is the world's richest personal. why should he care? we have treasury secretary janet yellen she says we can get to

to bitcoin via this tesla move.itcoin still has a vast wealth of people that have never really taken it seriously. with every of these bubbles that inevitably lead to crashes, you get new people coming in, new people taking it seriously. we are not seeing widespread corporate adoption but we are starting to see some of the wealthy and investment community taking it a bit more seriously than they did in the last bubble phase. every time we see this new adoption, air feels like in the long term this could have legs. for cryptocurrency, is hard to see cryptocurrency disappearing completely given the size of the network and value of the network on the human capital poured into all of this. does that mean that bitcoin ultimately becomes the winner? it remains to be seen. francine: thank you so much for your insight and patience. eddie van der walt, ou markets live editor. r salman ahmed. a thing or two to say about bitcoin. this is bloomberg. ♪ ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i

with tesla's move, i think they derisk this. i think you'll see more cfos and make decisions. >> certainly one of the conversations last week was with ross stevens at stoneridge about all the institutional money. so i i'm sure we'll talk more about this in the weeks and months to come thanks for joining us. >> thanks for having me. >>> coming up, stocks powering higher an janet yell enset with the stimulus package, it could return to full employment by next year. we'll have more on that. >>> another good sign for the recovery coronavirus cases are on the decline as the vaccine roll-out continues, but with new variants taking hd,ol are there roadblocks ahead more "power lunch" after this. >>> welcome back, they all hit intraday record highs. for more on what's driving this action, bob? >> a broad rally, but it's what we call the reflation trade. new highs. the russell 2000 even, and that's very, very important. what you're seeing here is what we call the reflation trade. it's a tendency for cyclical stocks and small-cap stocks to

they're eccentric owner and founder of tesla is certainly says that he's been. an advocate of bitcoin for a long time and now his company tesla seems to be really investing a lot in at the big question is will this be a sign of other companies now also investing in currencies such as bitcoin that's still an open question tell us more a little bit about him on my ask and what he's been saying about cryptocurrency is because he's been tweeting about the digital currency in the recent past. yeah a lot muskrat a long time was sort of this eccentric character which he still is but maybe not taken so seriously on wall street and other areas well that's all changed now because he is as of recently the world's richest person and tesla doing very well of course and he uses his twitter account with more than 45000000 followers. to promote companies and he's promote things such that he feels strongly about one of those being bitcoin and it's really affected stock prices of other companies too and priced not just stock prices but just prices in general of things and he's an

full disclosure i do own jbtc and tesla.ople to think i have nefarious activity here but it just makes sense. if you have a 200 billion install base and you could create that exchange, why wouldn't you do it the feedback i have gotten from investors is that it sounds that it is out of left field but if you don't think exchanges are going away any time soon, why wouldn't you do this. >> i think two reasons one, it could open you up to all kinds of new regulatory scrutiny they are all focused on bitcoin, becoming a bitcoin he can change also you are assuming big gains if the price continues to go up which i am not sure that that's necessarily a universal idea a lot of people still think this is a massive bubble and it is worth nothing. >> so, again, they don't even have to own the bitcoin, right that second part, i don't agree. what i am saying is they could basically just be the he can change let's say you wanted to bitcoin or a fraction of bitcoin you go into your apple wallet and click buy, they take a small fee. at that po

is investing i read somewhere that it was equivalent to the 2020 budget line for tesla for r. and d. that's massive but still there's a lot of risks here aren't there. well surely because bitcoin certain to fluctuate quite a bit sold this investment go in either direction on the other side specially what we've seen was the tesla stock in the last 2 year i believe it went up by about 800 percent sold tesla issued new stock and was that they actually built quiet in amount of cash overall evolved to $20000000000.00 so tesla can afford this at $1500000000.00 at this moment but to clearly usually companies tend to have a cash or cash like as it's a tent and not necessarily something as. yet shaky as say as a bit coins and other crypto currencies are. it's a strong signal sent by a major what does this mean for popularity. well i mean one of the big questions that we do not have a full answer yet is that tesla also mentioned that at some point they would accept bitcoins also from their customers to purchase a car so by the way one bitcoin roughly is worse and some as much as a new m

is investing i read somewhere that it was equivalent to the 2020 budget line for tesla for r. and d. that's massive but still there's a lot of risks here aren't there. well surely because bitcoin certain to fluctuate quite a bit sold this investment go in either direction on the other side specially what we've seen was the tesla stock in the last 2 year i believe it went up by about 800 percent a sold tesla issued new stock and was that they actually built quite an amount of cash overall evolved to $20000000000.00 so tesla can afford this at $1500000000.00 at this moment but clearly usually companies tend to have a casual cash like as it's a tent and not necessarily something as. yet shaky as say as a bit coins and other critical currencies are. it's a strong signal sent by a major corporate player what does this mean for popularity. well i mean one of the big questions that we do not have a full answer yet is that tesla also mentioned that at some point they would accept the bitcoins also from their customers to purchase cars of by the way one bitcoin roughly is worst and som

tesla plunged a .5%. it was a big winner last year. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus. annmarie: coming up on the program, as hsbc earnings beat the fourth quarter, we have an exclusive conversation with the cfo. that is manus and stevenson. this is bloomberg. ♪ manus: it is your daily diet of daybreak: europe. annmarie hordern is in london hq. we have just had an exclusive conversation on hsbc and their earnings that they beat in the fourth quarter. it signaled bigger benefits to drive its pivot towards faster growing asian markets. earlier, we spoke with the hsbc cfo, ewen stevenson. we are having one of those magical moments. one of those magical tv moments where we both went deadly silent on you. take 2. ewen: dividends were paying out and returning and of capital to grow. manus: you have quite an optimistic statement in terms of the chinese growth. would you be willing to be more aggressive on th

tesla, and louis it motor spac and churchill capital. tesla is at 703.got down to 620 or 630 soon after the open well off those lows. churchill capital still down well over 30%. we are back in a couple of minutes. we see temperature control software giving everyone a shot at vital vaccines. at emerson, our software is shepherding medicines through every step of the cold chain, helping track conditions to keep each dose safe and effective. emerson. consider it solved. >>> the nasdaq still the biggest laggard of the major averages. well off its lows. apple was down as much as 5% and just went positive a major bounce mid session steadily throughout the session. let's get check in on earnings movers macy's reporting an earnings and revenue beat this morning. the company saw same store sales fall less than expected. the stock up 5%. itself a big intraday recovery story. shares of home depot are falling despite an earnings and revenue beat they are not ri providing 2021 guidance that's pressuring the stock, down 3%. >>> still ahead, shares of square getting hi

joe: it always seems to come back to tesla in the end. has not been doing that great lately, the original yolo trade, down 5.5% in the last month. romaine: there are other players in this space, a lot of smaller companies trying to solve this problem. joe: joining us with more insight, brett winton. it is no yolo trade for your crew because you guys have been bullish on tesla, but it is interesting thing about them in the context of the stress on the grad -- grid. do you worry about this, is it an upcoming stress point, texas, california, this degree of demand we will be placing on the grid as cars go electric? brett: in short, no. we have done work to look at energy demand that will be solicited by electric vehicles. we think 40 million electric vehicles will be sold by 2025. there will be more electric vehicles entering the marketplace. because of the daily fluctuation in power price where in the middle of the day where everyone is running air conditioners or in texas, when everyone wishes they could be running heaters, you end up with

my investment horizon is long in tesla.ple of weeks i think investors should be focused on tesla for the next couple of decades rather than the next few weeks even if there is a shutdown for some time. tesla has plenty of cash to work through that. they will get through it and continue to ramp up production faster than anyone else in this space. stuart: you can look down the road a couple of decades, someone like me perhaps cannot. nonetheless, thank you for being with us. come back soon. i'm going to call this much watch or must see tv. president trump's first major speech since january 6. it will be at the cpac conference sunday about 5:00 p.m. eastern. what do republicans want in-- him to say? i'm trying to figure it out in "my take" coming up at the 10:00 o'clock hour. cancel culture, it's actually targeting pipeline, the dakota access pipeline. jeff explains it all in a live report next. ♪♪ stuart: the frenzied market has returned and gain stop has been halted, treated, halted again and now it's trading with gain stop

she did a great fund manager and tesla, tesla, and how many times with tesla >> incredible.d, the arc fund the money that flowed into those funds was astronomical she has plenty to put to work. >> she likes to put things to work in discount she bought draft kings and snap. she's been doing aggressive selling in cloud names a lot of people are just -- the parlor game is to pick what she's going to like next i always think it's better to wait than game her >> but she's a power in the market, without a doubt. >> yeah. >> listen, carl, i can remember when she came on with what we thought were outlandish targets on tesla, and they've been met or competed. >> a lot of people shorted tesla all the way up they didn't believe, and well, they've -- they have the traps on their -- tracks on their back to show it c carl, i've been there. >> two names one is shopify this morning. announcing today a new expanding their merchant list to all of those selling on facebook and instagram. shopify i think that's an all-time high. >> yeah. shopify, ever since instagram, since mark zuckerberg comm

tesla super charges bitcoin. it roars higher at $50,000.t is going to be worth a trillion dollars. do you have any bitcoin? >> good morning b, manus. s&p 500 futures a little bit softer this morning but a fifth straight day of gains on wall street yesterday with the s&p 500 closing at an all-time high. 39-15. the yield preefing 2%. brent, i know you're looking at this as well. flying lot higher. alongside bitcoin. $61. now we're hearing a chorus of traders. bitcoin 47,000 is what it topped. alof it coming from elon musk investing $1.5 billion. i'm not surprised. he has ripped up the script. tezz quite a maverick. he went direct to customers when he was selling tesla. very different from other auto producers. if you're still perturbed about crypto currency, you have to think at least this is bitcoin. >> this is the debate. we'll listen to mike in just a moment. it is something that is just a frenzy where in his view there is a value to bitcoin and some others. i love what the c.e.o. said. this is the scarcest commodity in the world. it is di

>>thank you lawrence coming up tesla making a big investment in bitcoin how that could change the way the irs views crypto currency and a possible boycott of bank of america. why some customers are now encouraging others. >>to stop using the bank. also taxes and here the >>for your money tonight with tax season just around the corner the irs is warning people to stay away from so-called ghost tax preparers according to the irs goes tax preparer is someone who prepares your taxes but doesn't sign or put their information on your form and this makes them. >>virtually invisible and untraceable the agencies also warning people to avoid tax preparers who require payment in cash only and do not provide a receipt and those who direct funds into their bank account. not your bank account. >>tonight some customers are calling for a boycott of bank of america this after a report that the bank handed over the account information of hundreds of innocent people in connection with the riots at the capitol on january 6 at the request of the fbi bank of america allegedly looked through the information

tesla, had a quarter, and people are still in love with tesla because obviously of the gross marginse and they make money per volume i just wish that there was a moment here where people would just pick a stock and say you know what, this might not be the principle time to be able to push tesla, only david, because that's part of the morass so many of the regular investors find themselves in, trying to find the next tesla which then leads to the spacs and trying to find the next spac that looks like a part that goes into a tesla or whether it goes into a hydrogen engine, fuel, the power, and they want it make sure they're not beholden to the oil companies. and david, if tesla is the next big thing, if not already, then what do we think about x rod, and the idea of exxon, chevron >> yeah, good lead-in thanks, jim. you know, they may very well have had a conversation or two, last year, as the journal reported i've been hearing some chatter around about it. did not frankly follow up in part because it is hard to imagine even now the anti-trust argues against a deal that would bring toge

tesla is down?arching for news and i carefully find anything that's market moving for tesla so that thinking is it may be a rotation because the treasury yield is back up to their highest in the year so rich reward calculus have changed and maybe want to take profit out of tesla but also bitcoin price is down about 8% this morning after breaching 59000 just yesterday and we know tesla in the some ways has been a bitcoin play because now they own one and a half billion dollars in bitcoin and that's a good thing according to wedbush. tesla analysts says tesla will-- has actually made a billion dollars off its a bitcoin purchase meaning he says tesla is on track to make or from their bitcoin holdings them from actually selling electric tesla cars in all of last year, 2020. how incredible is that? stuart: who would have shot-- thought we would lead the show with elon musk, bitcoin in gamestop. susan: modern world 2021 here we are. stuart: you are correct. hold on. i digress for a moment. there's consoli

what is the downside for tesla or apple. >> i don't think there is much risk for tesla. entire reputation is about doing things that are in the future. the whole story of one day we are going to be on mars riding tesla's. part of the fantasy. tom: >> is a fantasy? >>i would guess -- francine: is a fantasy? >> i would guess. tom: let's extend this to two hours. let me be quick. the basic idea goes back to first principles. it is not legal tender. it is hinged upon an algorithmic theory. how do secretary yelena address this as it touches commercial tendencies? >> i think we do not know what yellen's stance is going to be but i think maybe the industry should be anxious. one reason is energy consumption of the currency. there are a lot of people in the yellen's orbit who are going to find that distasteful. and, obviously not tesla or many are -- or many other countries -- companies, one thing bitcoin can do is facilitate transactions between characters the government might find unsavory. even if that is not the majority reaction, i could see people in yellen's orbit seeing

-- we know tesla is in there but some other names as well, baidu, others.oe: if you short it, you are shorting the future. for more on the wild week that was in the markets, let's bring in process it reporter -- cross asset reporter sarah ponczek. are you going to tell us something interesting about inflows? sarah: that's what everyone's talking about right now. the move we saw on bond yields toward the end of the day today was really remarkable. just yesterday we saw the flash flash crash like move after the weaker seven-year auction. at the end of the day, we saw the 10-year move from above 1.50 to 1.42, and you close out the day with a very large move lower in yields. you look at 10 year nominal yields, 10 basis point move lower just today. that was following a 14 basis point move higher yesterday, which was the most for any single day since all the way back in march. what it comes down to is yes, maybe this has something to do with month-end flows. we have heard a lot about tensions rebalancing at the end of the month. obviously we have seen some big mo

our team contacted tesla. tesla didn't respond to us but five days later ms.tesla let her settle the $8,500 claim without a release form. we've seen confidentiality or nondisclosure agreements over and over again. more and more really. especially when there's big money on the line. well, if a company ever asks you to sign one, here is what we recommend. you read that contract carefully. if you don't understand it, well, ask questions. demand answers. and you know what, consider hiring an attorney if those terms and conditions aren't clear to you. send us your consumer complaints go to nbc bay area.com and click the responds option from the main menu or call us 888-996-tips. >> thanks, chris. >>> how about a san francisco victorian to go? traffic hit a standstill in san francisco. this is near tenderloin has crews moved this nearly 140-year-old victorian home. wow. >> the house was moved from its location on franklin street a few blocks to its new location over on fulton street. this move understandably took years to plan, not to mention a $400,000 moving bill.

blasting through the all-time record ceiling is stands at $43000, this digital token the elon musk, tesla charging a bitcoin after the announcement of the three, investment of the crypto currency that has the entire crypto universe moving at light speed from light coin to dolch coin to ask rp in war, we have all the mega moves and whether the sec can rain down on the crypto parade, two experts with skin in the game are here in speaking of games what can football fans do now that the big game is over, how about develop the next eastport franchise. then i felt teaming up with skills in a blockbuster deal that have gamer fans do just that. in his first interview since last night's big game and your paradises here on how the partnership with the nfl is going to work and who's going to create the game and how much is a cut the nfl is going to take, market less than an hour away we will check on gamestop, amc, apple, hyundai in more because they are all on the move but to our top story crypto dancing across the screen as tesla revealed its purchase $1.5 billion worth of bitcoin and said it woul

we bought a lot of tesla today across any strategy that holds tesla.blishing in a few weeks a report updating our thoughts about tesla, our excitement about the potential of a ride-hailing service to a bridge -- as a bridge to an autonomous service, and the higher odds that thomas will happen for tesla -- that autonomous will happen for tesla. now that waymo is on the road, we know it can be done. tesla has so much more data than everyone else combined that we think it is in the pole position. haslinda: cathie wood speaking with our colleagues. we want to bring you live pictures out of bangkok and thailand, thailand getting its first shipment of covid-19 vaccines. 200,000 doses of the sinovac vaccine, and 100,000 doses of the astrazeneca vaccine arriving at the airport. thailand aims to inoculate 50% of its population by the end of the year. they have shipments of vaccine arriving in thailand. rishaad: as the government there mulls people arriving there that haven't -- that have been vaccinated. pressures on the yuan keeping up , but they've been holdi

taylor: is it a threat to tesla?: we don't view it as a threat to tesla because it is a big enough market for more than one boat. apple, gm, ford and others, this is a mess of opportunity, $5 trillion over the next decade. it is not something necessarily competitive to tesla, but it shows we are going into a golden age of ev's and apple is not going to miss out on that party. taylor: one final q before we let you go, because it is friday. i am going to be interviewing the quantum space scape ceo at the bottom of the hour. what would be one question you want to ask? dan: we had a massive battery breakthrough this week. i think it is better understanding their hurdles to get to mass volume over the next few years. they could change the game of battery technology in terms of everything going on at quantumscape. what they did this week was job dropping intern -- john dropping in terms of the breakthrough. taylor: the lengthy and i am, we think of tesla as solid metal lithium. is that a game changer? dan: quantumscape is

our team contacted tesla.'t respond to us, but five days later, she said it let her settle without the confidentiality agreement. we have seen these nondisclosures or confidentialities more especially when there's big money on the line. if a company ever asks you to sign un, first, read the thing carefully. then ask questions. when you do that, demand answers. here's this -- if you don't understand it, consider hiring an attorney to review the terms and conditions. all right, here's another thing. the company's desire here to keep you quiet might be an opportunity to negotiate. maybe i have been hanging around too many lawyers, huh? send us your consumer complaints. go to nbc bay area.com. or give us a call. the number is 888-996-tips. raj, i recently had a lawyer tell me, if you see a confidentiality demand $10,000 or you're not signing. >> so tesla didn't respond to, but they responded to the woman? >> we get that a lot. >> it's an indirect response. >>> february marks the annual celebration of black history

tesla, jim chanos was short tesla.d he was right. guess who agrees with him? liz: no, he -- >> yes, he was. liz: okay. we're not going to have this discussion. >> you know, look it up! look it up! elon musk said they were on the vernal of bankruptcy. he said it. you don't believe -- [laughter] google -- liz: that's because short sellers tried to kill it. rah. [laughter] >> no. shorts don't change the fundamentals of a company. the fundamentals were he had problems in production. he couldn't meet 'em. he said it. liz: would you concede, charlie, that some short sellers, not all, some, really don't have the best interests of a company in mind -- >> of course they don't. liz: -- or investors. >> would you just concede that the market is much more filled with touts than are trying to sell people -- liz: oh, no. i think short sell ors, absolutely -- >> by the way, you should talk to jordan belfort, one of the biggest pump and dumpers -- liz: he's been on. >> ask him is there more problems on the short side or the long side

dollars buy a tesla. instead of doing that tesla just says give us your bitcoin and you can pay for it that way it's the same idea here where mastercard says rather than having to convert to a fee our currency will just accept it directly from aunt interesting because there is a lot of volatility with that coin especially these days surging and then some people think that it might go down even though we're seeing record highs that we didn't even expect to see until later this year although i want to get to the latest of bank of new york mellon this is the nation's oldest bank it's making a leap here also introducing. a market for crypto currencies and thus the banks that there is a it will hold transfer and issue and other crypto currencies on behalf of the assets management clients is this a step forward for a big coin. yes indeed it's a huge step forward in fact and you know it's not because. bank you your mail on is it shows the bank to offers this service but it's basically due to the fact that it's t

liz: people said that about tesla, charlie. tesla, and gabe plotkin -- >> yeah, let's not compare a company that's -- liz: charlie, all i'm saying, all i'm saying -- [inaudible conversations] for different reasons. >> listen to what i'm saying. you are comparing a company that's on the cusp of creating electric vehicles, the thing of the future, with a mall outlet that sells video games that you can buy over the internet. okay? let's just be clear here. i think that's what the short thesis -- liz: yeah. but if you talked to the shorts about tesla back then -- >> i did. liz: i'm just saying, they knew every example of what was wrong with it. >> today said tesla was close to bankruptcy, and you know who else said that? elon musk. they pointed out the problems in tesla's manufacturing and balance sheet, and he fixed it after that. remember that. the shorts -- liz: i agree. just putting it out there that that gabe also shorted tesla. >> remember, what's different about gamestop is that it is selling stuff that people -- it's not se

we've yet to see level four and level five autonomy in a tesla vehicle.key when you get to that level you can truly say to somebody i'm in this car, there's nobody driving, and i'm going from here to there, boom elon musk has said on the conference calls, we have complex driving conditions that our vehicle has no interaction at all with the driver that's great but can you do it on a wide scale in the united states, worldwide, wherever it might be? not with tesla or the other automakers that is what they are drive towards with the apple car >> it truly is a data story in the end, phil, one reason it involves so much of big tech fascinating work again we'll look forward to more our phil lebeau talking about the developments on the apple car front. let's bring in light speed partner mercedes-benz, creator of the newsletter. good morning thanks to see you. >> thanks for having us. >> mercedes, there's so much brewing, the apple story, what we know, the google/ford partnership now. i wonder where you think we're finally going to get some real visibility as to

dan, tesla is down markedly down about 15% here >> it's actually down 21% from its closing high last month, mel. what i think is interesting today down 8.5%, it was a bad break below its 50 taye moving average. the last time the stock closed below its 50-day moving average was november 16th, the day the s&p 500 announced they would be adding tesla to their 500 index. the stock at that point on november 16th was down 20% from its september 2nd all-time high. what happened from november 16th to its high last month the stock actually doubled okay it gained $400 billion in marke cap. it's interesting this is a bad break. you can say it's about interest rates or talk about competition and elon musk and his coin and bitcoin fascination and a lot of goofiness going on in and around all that sort of stuff, i think we're at a point where people are starting to look at just like, listen, if rates are going to be higher some of the growthier names we're ready to give these redix includes premiums to whether we should lighten up a little bit. a lot of narratives coming together and it makes sens

if you go on tiktok, you listen to these kids and they are telling you -- tesla, the guy that owns tesla, debbie says don't put money on that, that's it. got money. it is not a game but that is what is pushing this. that is what is driving this right now. tiktok. there are millions of people spending money because these kids are telling you how to do it. host: she brings up a great point. elon musk and others are now getting involved in this. what effect does their statement have on this whole market manipulation/reddit/hedge fund controversy. guest: market influencers. elon musk infamously got himself in trouble by saying -- he effectively secured an acquisition price for tesla at $420. it turned out the sec came after him and sanction him. you can't just do that as a ceo. millions of people are following you, you have to be careful what you say. material information. it's a fascinating conversation. there is a group of skeptics that say they are sophisticated hedge funds and institutional investors who trade by the fraction of the second enter paid a lot of money to follow global marke

our confidence in tesla has grown as we've done research on what ride sharing potentially could add.a much more profitable business than electric vehicles and we do think even though i think there's some debate at tesla whether or not they should launch a human-driven ride hailing network, it would be a very good bridge, we think, to their autonomous strategy and we think they will decide to do that i don't think anyone has, in their models anything for ride sharing, and then as time goes on and we learn about their artificial intelligence expertise, the 30 billion miles they've collected of real world driving data, no one comes close and google might be a 30 million compared to 30 billion and we know in the a.i. world and autonomous is a.i. that the company with the most data and the best quality data will win so we're pretty excited about autonomous and the probability of success in autonomous, we believe, is going up, and therefore our price target will probably follow at some point. okay >> bitcoin is on everybody's mind right now your next gen internet fund is in a large positio