Tesla Bought 1.5 Billion in Bitcoin!

[CarnagexD]

 Funny how he did this after shilling DOGE in his twitter. Nevertheless, this only earned him the praise of the Reddit Community who already sees him as the Tony Stark of this Generation, not understanding that the guy is literally memeing all this time.

Now in the case of this 1.5 Billion Dollar bitcoin purchase, one can easily he's a visionary and saw great future for bitcoin, which I think is true. But I can also see him building or already mobilizing an ulterior motive which may not be as altruistic as most people think it is.

[AndySt]

Funny how he did this after shilling DOGE in his twitter. Nevertheless, this only earned him the praise of the Reddit Community who already sees him as the Tony Stark of this Generation, not understanding that the guy is literally memeing all this time.
Now in the case of this 1.5 Billion Dollar bitcoin purchase, one can easily he's a visionary and saw great future for bitcoin, which I think is true. But I can also see him building or already mobilizing an ulterior motive which may not be as altruistic as most people think it is.

The world of big business is ruthless and will calmly crush any idealist and altruist, so you should always take off your rose-colored glasses and try to see quite prosaic things in all events, because all good wishes should have a strong economic basis and a banal calculation. The purchase of bitcoin by Elon Musk's company and all his tweets about cryptocurrencies are from this series.

[Sithara007]

Except he doesn't support both. He's a troll and he's undoubtedly gotten people burned by hyping Doge because he thinks it's funny. He's said Doge is a joke but there are far too many people who see memes like Doge and GME and diamond hands and that's their investment thesis. Those people definitely earn their losses.

Your statement doesn't make any sense. A lot of people are hyping DOGE right now, because they think it is funny. But that is not the case with Bitcoin. And how can you say that Elon is not supporting Bitcoin, when Tesla has gone ahead with the huge $1.5 billion investment (and in their official statement Tesla has indicated that they may make similar purchases in the future as well). On top of that, Tesla has made it clear that they will soon accept Bitcoin as a mode of payment.

[btc78]

Maybe this is the reason of the recent Bump when the value had reached another ATH 48,000$ price days ago.

But looks like it subside just after 2 days of climbing

Now that the Value stays comfortable at 44-45,000$ and this would be the value until for the next days as again failed to break the awaited 50,000 target. .

[carlisle1]

This is the most exciting time in crypto history! I mean, a prominent figure like Elon Musk endorsing Bitcoin? It's genius! It shouldn't be long enough before Bitcoin touches $50,000 per coin. I don't know about you, but I'm going to keep buying and hodling Bitcoin.

After Bitcoin Doubling the ATH of 2017 ? sure those businessman are now confirmed that this market is is legit and will surely a Place where the investment is more safer than any market at all.

Things are going to get a lot more exciting in the upcoming months as people are joining the crypto hype. Dogecoin went from less than a penny to 8 cents thanks to Elon Musk's endorsement. Even Bitcoin soared to $44,000! We even saw PayPal joining the Blockchain revolution. Bitcoin and most other cryptocurrencies will continue to pump like there's no tomorrow.

We can't tell that these are true because it can be a coincidence or small fraction that turns out.

With Tesla now deeply invested into Bitcoin, I wonder which other company will be next?

Amazon? or Giant banks? who knows.

Im calling Amazon Pay wlll soon enter the space, they have to,
Rivals Paypal and Visa are already here in their own capacities.

They wont want to get left behind!

maybe It's the Pride that Hindering Amazon to to move in because in the past they have been denying face to face the acceptance and adoption of Bitcoin so this may the hinder now of them accepting the currency while Paypal and Visa is already inside.

But for sure this won't take long before happening because Business is more comfortable if the indemand online payments will be on their list like Bitcoin and other legit altcoins.

[ancafe]

Maybe this is the reason of the recent Bump when the value had reached another ATH 48,000$ price days ago.

But looks like it subside just after 2 days of climbing

Now that the Value stays comfortable at 44-45,000$ and this would be the value until for the next days as again failed to break the awaited 50,000 target. .

unmistakably, even I feel that a higher rise will also occur. I think some big companies will also follow in Elon Musk's footsteps to look to cryptocurrency.
although the sudden increase could not reach the price of $ 50k, but I think the potential in the future is still very large to achieve that.

[kateycoin]

It's not surpricing that they buy bitcoin because they are the billioner and i think it's good that they adapt bitcoin for tesla.It will be more easy to them to used bitcoin as transaction payment specially noe hat we are pandemic situation.Hopefully they not using bitcoin for something purposes.

[blue_nexus15]

This year's uptrend is driven by peripheral conditions for a series of market highs.  Not only Elon Musk, tesla, but also the great entrepreneurs and retail investors flocking to bitcoin like Grayscale,Micro Strategy ... Surely, they had good reasons to see that after covid19, blockchain and bitcoin  really becomes the future to revive the new economy.  Their policy has really changed.  that's what we expect.

[Jemzx00]

Maybe this is the reason of the recent Bump when the value had reached another ATH 48,000$ price days ago.

But looks like it subside just after 2 days of climbing

Now that the Value stays comfortable at 44-45,000$ and this would be the value until for the next days as again failed to break the awaited 50,000 target. .

unmistakably, even I feel that a higher rise will also occur. I think some big companies will also follow in Elon Musk's footsteps to look to cryptocurrency.
although the sudden increase could not reach the price of $ 50k, but I think the potential in the future is still very large to achieve that.

Price increase on bitcoin is mostly due to the number of famous investors trying to get in to bitcoin which have been followed by small time investors to be able for them to get their profit especially those who deals with short term investors. undoubtedly, bitcoin may have a chance to reach the 50k$ mark anytime soon if this uptrend continues especially that the new ATH have reached 48k$. Currently, we may be seeing bitcoin to be stable at the price range of 40-45k$ and I don't even know when the price correction will ever happen.

[bryant.coleman]

Price increase on bitcoin is mostly due to the number of famous investors trying to get in to bitcoin which have been followed by small time investors to be able for them to get their profit especially those who deals with short term investors. undoubtedly, bitcoin may have a chance to reach the 50k$ mark anytime soon if this uptrend continues especially that the new ATH have reached 48k$. Currently, we may be seeing bitcoin to be stable at the price range of 40-45k$ and I don't even know when the price correction will ever happen.

Even without Tesla, Bitcoin managed to reach $42,000. The bull run from $10,000 to $42,000 was attributed mostly to PayPal adoption of cryptocurrency. Now the news about Tesla is even bigger than that from PayPal and I'm quite surprised that the 50K level is not breached as of yet. I would expect the prices to touch six digits, solely from the investment by Tesla and the surrounding hype. 

[lovesmayfamilis]

Surely in the future, we will see even more large companies wanting to buy bitcoin. Tesla has undoubtedly set a good example for investors. What matters is a comment that they plan to accept Bitcoin as payment for their products. But the company has no plans to convert the received bitcoins into fiat currency.
An article was released yesterday that Charlie Lee believes this is an important moment when society can abandon traditional payment methods, thereby further bringing the widespread adoption of bitcoin closer.
https://www.worldstockmarket.net/litecoin-founder-companies-will-start-buying-bitcoin-after-tesla/

[finaleshot2016]

What? Elon musk really hypes things up like what he did on Dogecoin. I've recently checked the price value of bitcoin, it's now already 46k USD, can't believe it'll resist more. I thought the bull run is over and expecting the collection soon but it still growing bigger. I know that it already resisted for an ATH of 40k USD due to halving and without the investments of Tesla but this investment is currently helping it to grow more. Many people are now praising him for what he did in the crypto community, well, the profit I earned recently was because of him so thanks to him.

[Vishnu.Reang]

What? Elon musk really hypes things up like what he did on Dogecoin. I've recently checked the price value of bitcoin, it's now already 46k USD, can't believe it'll resist more. I thought the bull run is over and expecting the collection soon but it still growing bigger. I know that it already resisted for an ATH of 40k USD due to halving and without the investments of Tesla but this investment is currently helping it to grow more. Many people are now praising him for what he did in the crypto community, well, the profit I earned recently was because of him so thanks to him.

I have to agree with your post. Some of the cryptocurrency users have a habit of finding something to blame with each and everything. Now they are after PayPal and Elon Musk. I am not a big fan of PayPal and I don't have an account with them right now (my PayPal account is inactive). But at the same time, I can't ignore the fact that the bull run, which took Bitcoin from $10,000 to $40,000 was because of the adoption by PayPal.

Same with Elon as well. Tesla is the first corporation to convert some of their reserve cash to Bitcoin. This has caused another rally in Bitcoin prices, resulting in the exchange rates going up by almost 50%. Long term investors like me are benefiting from these rallies. It is time to thank Tesla and PayPal for all the profits. I don't want to be ungrateful by blaming them for non-issues. I guess people who are blaming them want to crash the price of Bitcoin, so that they can accumulate BTC at low prices.

[redsun114]

maybe It's the Pride that Hindering Amazon to to move in because in the past they have been denying face to face the acceptance and adoption of Bitcoin so this may the hinder now of them accepting the currency while Paypal and Visa is already inside.

But for sure this won't take long before happening because Business is more comfortable if the indemand online payments will be on their list like Bitcoin and other legit altcoins.

I am not sure if its pride, I am pretty sure it is got to do with a lot of paperwork and business meetings before you can do something like this. Of course there could be a lot of shareholders who do not want it to happen, there is a board that decides these things and if the majority says no they have to follow that, but I never seen Jeff bezos say anything decent about bitcoin or anything else neither.

Elon on the other hand has been in favor of bitcoin for a very long time and he has supported it, and finally they managed to put some money in it as well, not like this was an overnight decision by them neither. So, this means if amazon ends up accepting bitcoin as payment (which is not ideal, it costs a lot and takes a long time to have 6 confirmations) that means they are going to first decide that and implementing still will take some time.

[jesselui]

This is a substantial amount. I can say that Elon Musk has helped crypto money a lot these days. But this will necessarily have harmful points. I'm expecting a hard fall. Need to be careful.

[lovesmayfamilis]

I'm expecting a hard fall. Need to be careful.

Michael Ross-Johnson, CEO of the cryptocurrency p2p platform Chatex, spoke recently that bitcoin may be threatened by a fall in price. If institutional investors suddenly start exiting the asset, this will most likely trigger a correction in the cryptocurrency market. With such a huge increase in the price of bitcoin, the interests of regulators are likely to grow even more, which thereby can push investors to take profits and exit the cryptocurrency.
An interesting statement by Michael Ross-Johnson that: "such a speculative growth (not based on real economic indicators, but occurring only on the excitement around a famous person) cannot but lead to a sharp drop in the asset." https://life.ru/p/1367296
And this cannot but cause concern.

[tygeade]

That investment is very huge and when they will be cashing out they will cashing out really big. He’s definitely a smart investor, because with the way things has been going, this is going to push it further and a lot of people will start investing in the market at this time, and it wouldn’t be just individuals, by doing this they are pulling the interest of other businesses too who will now start to invest in Bitcoin and other cryptocurrencies.

As the market starts growing from there, Tesla’s net worth will grow from there. That’s a really smart move that he has really taken.

[ololajulo]

Bad news for all the people following Elon like lemmings off a cliff into Doge. I honestly don’t know why people put so much stock into what Elon does, he has a long history of trolling and erratic behavior, and he’s not a particularly good role model (threatening to fire workers for not reporting to work during a pandemic when the county said it wasn’t safe to open his factory, calling a journalist a pedo on twitter because he criticized Elon’s narcissism, using twitter to pump his company stock with materially false information, etc.) Unfortunately, this board is going to be flooded with Elon worship even more now just because of this. We need better heroes.

His influence recently in cryprocurrency should call for caution, World richest man now messing with crpytocurrency with tweets. We now need more than the usually cryptocurrency influencers to fondle with the price. Sadly no way to verify his purchase that pump bitocin, especially for someone that pump low lying coin Doge twice in recent days with just tweets.

[Ryker1]

This is a substantial amount. I can say that Elon Musk has helped crypto money a lot these days. But this will necessarily have harmful points. I'm expecting a hard fall. Need to be careful.

Well, it is almost the same as what I have read in most articles recently, --be careful of the possible pullback.
Elon Musk is one of the most influential people in the crypto space, if he will throw and negative feedback on bitcoin perhaps it has an effect and t seems now he is most likely manipulating the market. Once institutional investors will sell their bitcoin that invested, it surely has a pullback.
However, I am more curious why bitcoin does not have an effect of price falling when the Nigerian government banning bitcoin in their country. Perhaps, they are a small community of bitcoin enthusiasts.

[aesma]

Funny how he did this after shilling DOGE in his twitter. Nevertheless, this only earned him the praise of the Reddit Community who already sees him as the Tony Stark of this Generation, not understanding that the guy is literally memeing all this time.

Now in the case of this 1.5 Billion Dollar bitcoin purchase, one can easily he's a visionary and saw great future for bitcoin, which I think is true. But I can also see him building or already mobilizing an ulterior motive which may not be as altruistic as most people think it is.

The reason is obvious to me : Tesla stock's value doesn't make sense, so if he backs it with BTC, that could reasonably go up 10 fold or more, then that helps Tesla's valuation a bit. And at the same time, that excites the same "Tesla fanatics" to buy even more Tesla stock. I wouldn't be surprised if as Tesla's valuation continues to grow (if it does), it buys more BTC.