Analysis: Investors lukewarm on Tesla's $1.5 billion bitcoin splurge

FILE PHOTO: Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Investors in high-flying electric carmaker Tesla Inc are questioning whether Elon Musk's $1.5 billion outlay into bitcoin will be as good for the company as it has been for the cryptocurrency.

Tesla's disclosure on Monday that it had moved nearly 8% of its reserves into bitcoin sent the price of the cryptocurrency to all-time highs, up more than 16% this week, while Tesla's shares are down nearly 6%. Others may follow Tesla's lead, with Twitter Inc's chief financial officer telling CNBC that the company has considered adding bitcoin to its balance sheet.