Tesla Stock: When Jim Cramer Would Buy the Dip

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Tesla  (TSLA) - Get Report continues to slide lower Tuesday following a recent drop in the price of bitcoin. 

The electric carmaker disclosed investing about $1.5 billion in bitcoin in January. 

Wedbush Securities analyst Dan Ives recently wrote that Tesla's success has been increasingly tied to bitcoin. Tesla is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives wrote. 

As of early trading Tuesday, bitcoin was down over 10%, while Tesla stock was down upwards of 7%. 

In the video above taped on Monday, Jim Cramer breaks down when he would buy the dip in Tesla. 

Daniel Kuhn contributed reporting to this video. 

More: Tesla's Bitcoin Investment: Which Company Is Next?