Gary Black Says Tesla's Bitcoin Holdings Not 'Relevant' To TSLA's Stock Price, Urges Focus On EV Expansion And Share Buybacks

Future Fund LLC Managing Partner Gary Black criticized Tesla Inc.‘s (NASDAQ:TSLA) Bitcoin (CRYPTO: BTC) holdings Wednesday, arguing they have minimal impact on the electric vehicle maker’s stock value as the cryptocurrency reached record highs.

What Happened: “The price of Bitcoin is not relevant to Tesla’s stock price,” Black wrote on X, noting that even at $100,000 per Bitcoin, Tesla’s holdings amount to roughly $0.33 per Tesla share. “My issue has always been capital allocation – shareholders can buy Bitcoin themselves.”

Black emphasized Tesla should prioritize its core business investments. “I want Tesla to build new plants, introduce new EV models, expand its energy business, invest in robotaxi,” he stated. “If there is cash left over, management can buy back Tesla stock.”

The comments came as Bitcoin surpassed $100,000 for the first time, reigniting debate about Tesla’s cryptocurrency investments. Black has consistently ...

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