As Tesla takes the plunge, wary insurers watch crypto craze from the sidelines

By Noor Zainab Hussain and Carolyn Cohn (Reuters) – If Elon Musk’s Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. Insurers have yet to catch up with the growing acceptance of cryptocurrencies as an investment and in commerce: Musk said last month Tesla’s customers can now use bitcoin as payment. Scant regulation and volatile prices of bitcoin and other cryptocurrencies make many insurers reluctant to underwrite the risks, despite booming demand for protection of di…

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HEDGE accordingly