In this morning’s edition of The Macro Show, Hedgeye CEO Keith McCullough discusses the news that Tesla (TSLA) recently purchased $1.5 billion in Bitcoin, and how it will affect the Hedgeye Risk Range for BTC.

“If you went big on Bitcoin as you should have at the low end of the risk range, you have earned the right to sell some today on Elon’s pump,” explains McCullough. “Don’t forget, [Elon] didn’t buy it today,” McCullough adds.

“He bought it lower. He probably bought it at the low end of the range. From what I’ve heard, I can’t confirm or deny, Elon is a very smart guy. He does math. He was using the Hedgeye Bitcoin tracker and that’s where he bought it, at the low end of the range, not up here.”

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McCullough: Is Elon Musk Using Our Bitcoin Tracker? - risk ranges