So basically this is the reason for the big leap we have seen a day ago, this is really good news for the crypto community, it seems like bitcoin is increasing continuously, I hope this would be the start that will persuade other companies to buy and invest in bitcoin. The first one is the tweet of Elon Musk which really gives a big leap as well to bitcoin and now the Tesla that buys $1.5 Billion worth of bitcoin, so what's next maybe this time is a good time to buy kore bitcoin.
Both are related. Elon was probably the reason why Tesla made investment with Bitcoin. Now Elon has come out in the open, supporting Bitcoin and that is a big thing. Yesterday I read an article in Coindesk, regarding a statement made by a JP Morgan official. He was claiming that other corporations are unlikely to follow Tesla in making Bitcoin investments. He put up some stupid stats to support his claim. One claim was that if a company converts 1% of its reserve cash to Bitcoin, then it's volatility increases by 8%. You can see how stupid this looks. How can 1% cause 8% increase in volatility, unless the prices increase by 800%? And in case the prices increase by that much, it is going to be good for the company.