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Washington Partner Ashley Ebersole was quoted Feb. 8 by The New York Times regarding the fact that electric-car maker Tesla has purchased $1.5 billion worth of the cryptocurrency Bitcoin, as disclosed in the company’s annual report. The information helped Bitcoin’s price hit a record high. Ebersole, a former U.S. Securities and Exchange Commission attorney who handles securities and fintech regulatory matters, said Tesla has the discretion as to how it wishes to invest its corporate cash as long as its board followed proper corporate governance guidelines. “The wisdom of making an allocation to something like Bitcoin is not inherently problematic,” he said.

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