Tesla Inc. said Monday that it bought $1.5 billion in bitcoin, a disclosure that follows Chief Executive Elon Musk’s promotion of the cryptocurrency and other digital-currency alternatives on Twitter.
(really a massive news)
Now the very most concern and dream is “Buy Tesla with bitcoins”, a dream car for most of the young guns for now. And surely Tesla is going to make the purchase by bitcoins public soon, so the folks having bitcoins can easily pay for their dream car with that stunning currency called Bitcoin.
As for the currency owners, a good news is: prices jumped more than 10% after the announcement, according to cryptocurrency research and news site CoinDesk.
The moves raised immediate questions around CEO Elon Musk’s behavior on Twitter recent weeks, where he has been credited for increasing the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages that have encouraged more people to buy the digital currencies.
Two weeks ago, the billionaire Tesla owner added the hashtag #bitcoin to his Twitter bio, in a move that helped to briefly push up the price of the cryptocurrency by as much as 20 percent.
Two days later, he said on the social medial chat site Clubhouse: “I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.”
Bitcoin prices surged to new highs Monday following Tesla’s announcement, reaching a price of at least $44,200. Tesla shares were up more than 2.5 percent in premarket trading. Tesla warned investors of the volatility of bitcoin’s price in its SEC filing.
Tesla’s move into bitcoin represents an investment of a significant percentage of its cash in the investment. The company had more than $19 billion in cash and cash equivalents on hand at the end of 2020, according to its most recent filing
