Tesla buys $1.5 billion in Bitcoin

[BuNga_cute]

If you look at the current price of Bitcoin which has managed to reach the price of $ 47k.  The enormous impact of the news meant Tesla
invested $ 1.5 Billion into Bitcoin. Indeed, since Elon Musk changed his bio on twitter to #bitcoin, it seems like the beginning of the hype
against Bitcoin. I am really looking forward to the plan that Tesla will accept payment methods via Bitcoin, if the plan is officially realized,
the Bitcoin price will skyrocket even more. Therefore, with a lot of positive news related to Bitcoin, I decided not to sell the Bitcoin that
I have for now.

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[snipie]

I thought he was going to keep promoting Dogecoin and pumping its price because for a while he's been talking about it lol. But this changes everything one of the biggest company and renowned business man just invest Billions this is truly shocking. I wonder, what would the other major companies move will be. This should be enough to silence critics such as Peter schiff and Warren Buffet.

I expect him to integrate Dogecoin too with his business once bitcoin is fully integrated. Dogecoin value rised a lot recently and it can be pumped further to $1 for doge then maybe this will attract more people to the honeypot!

[AniviaBtc]

I think Elon Musk wants to prove us something because he already did this in doge coin where he suddenly make its price spike in the market.

He is really something else and we are glad that he is supporting cryptocurrencies to play with its price in the market.

$1.5B worth of bitcoin is really huge compared to other investors or companies. TESLA is a big company handled by the richest person in the world and it is really a good idea if he will set us in a hype.

[seoincorporation]

$1.5 billion it's some serious cash, and the way that he makes it public was because he knows he is an influence. And if he makes a bet tons of people will follow him.

It was a wise move to make it public, and now we can see the consequences...ATH!

[Amejoaquim]

Oh, thats the reason why i woke up in this morning and my portofolio rising up.

This news from Tesla is very damn good for crypto future and especially for bitcoin i think the price can rise more than $50k.

[Altcoinsintel]

Bitcoin seems to be right in the middle of the bull run and news of this kind are extremely bullish for the chart. Price can reach $100k and higher as this kind of news will drag hundreds of medium and large companies invest part of their treasury into Bitcoin.

The central bank negative interests will keep sending investments in assets like Bitcoin and all cryptocurrencies will see more growth for months. I expected this bull run to find a top by July, but with this kind of adoption perhaps it will be prolonged now until the end of 2021.

[rdbase]

This is an insane power move.

I wonder if he had to get approval from a board of directors?

Elon Musk is a charlatan. That being said. This is good for bitcoin. If other big companies follow suit we could easily see the price go to 6 digits and never come back down from there.

The risk involved can't be understated though. Bitcoin could go down 90% and turn that 1.5 Billion into 150 Million if the wind starts blowing in the other direction.

This is absolutely fucking crazy.

When one has the stars aligning on their side... well you know the rest.
Space X, Tesla, Power city, Doge->Bitcoin you can see something big was going to happen sooner or later.
As many has said already as if he was just testing the waters getting into crypto just to see how people would react to seeing him rave about a cryptocurreny, and that being doge with that lone tweet saying: Former CEO of Dogecoin a while ago.
So now him ranting about purchasing a ton of BTCitcoin to the world and getting it done the right way by filing with the SEC shows he made the right power move, as you have put it.
This is the next step indeed.

$1.5 billion it's some serious cash, and the way that he makes it public was because he knows he is an influence. And
if he makes a bet tons of people will follow him.

It was a wise move to make it public, and now we can see the consequences...ATH!

This has been made public from many sources that it is 15% of Tesla's worth. So putting this kind of amount into something means they will be storing it for years to come and don't expect it to be dumped onto the market again since they will be accepting bitcoin for payments inexchange of their company's products.
"You will be able to purchase a Tesla car with this form of currency." is Elon's exact words.

[Ziskinberg]

Bitcoin seems to be right in the middle of the bull run and news of this kind are extremely bullish for the chart. Price can reach $100k and higher as this kind of news will drag hundreds of medium and large companies invest part of their treasury into Bitcoin.

The central bank negative interests will keep sending investments in assets like Bitcoin and all cryptocurrencies will see more growth for months. I expected this bull run to find a top by July, but with this kind of adoption perhaps it will be prolonged now until the end of 2021.

Middle of bull run? so this means there's still more to come? I can't wait but just watch it pumping and just look at my portfolio if it brings positive profit. I have been holding some altcoins for a while, most of them are still not in bull run state, it's sleeping in short.

Bitcoin should pump more so eventually altcoins will have its bull run as well, or the altcoins seasons will come.

[MyCryptoDomains]

Also since the current pump is dependent on Musk BTC is a bit dependent on TSLA stock.

[snipie]

Also since the current pump is dependent on Musk BTC is a bit dependent on TSLA stock.

Nah I don't think that bitcoin will be dependent from TSLA stock. Bitcoin is volatile and depends on ask/demand, even if that stock dropped a lot and traders continue to buy bitcoin then the price will continue rising. Now if they will drop that amount then a crash will definitely happens since there will be a huge number of bitcoin for sell comparing to a smaller number of buyers.
Wonder estimate how much Tesla bought, January price was between $30k-$40k so ~$34k as median = BTC44k = 0.2% of the total bitcoin supply without counting the definitively lost amount!

[Wenbing]

Tesla invested 1.5 Billion USD into Bitcoin and plans to include Bitcoin as a payment method.
Definitely the reason for prices soaring right now.

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

Bloomberg report:
https://www.bloomberg.com/news/articles/2021-02-08/tesla-invests-1-5-billion-in-bitcoin-plans-to-accept-cryptocurrency

SEC filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm

This is one of the greatest event to happen to the crypto industry. t is the adoption of btc by the world's richest man.It is beyond adoption, he invested and he is making it as a means of payment for his products. wow, i am very excited about this.

no wonder, he said during the club house event, that he was late to the party but he is a supporter of bitcoin, that btc is being adopted by the public. I also see how strategic is Michael Saylor in ensuring that Tesla invested in digital assets.

It seems Elon Musk knows how to play with people's emotions, and he can attract them to join with him. He already invests in bitcoin before the price is jump, but he announces it now to lift the price, and maybe that is the reason for the bitcoin price to jump higher and break $44,900. The trend still at the uptrend. But we do not know if the price can break $45k or not since that is close to that price.

Elon musk is really taking advantage of his influence, It is given that Elon bought a bag of bitcoin on the accumulation phase and I think this is his plan, He will not shill or do something that he won't gain something. We small-time trader/hodler/believer has a chance to ride his plans to make some profit. I hope that next time he will shill a useful coin not a useless coin like doge  For the mean time, The tesla investment is I think good for bitcoin itself breaking the recent ATH and making a new ATH. I'm hoping that big names will start showing their motives to bitcoin.

I am sure he already buy bitcoin a long time ago before bitcoin increases. We can have a chance to make a profit by following people's reactions because of his tweet, and if we can adapt to the current situations, I am sure we will make a profit. I think he will tweet the other coins besides bitcoin and dogecoin, and I think he already makes a plan about that. We should be cautious and watch his step, so if the market does something, we are ready to follow.

Another perspective which will act as guide is that during bubble mostly created by Elon, must people tend to dump after few hours, so, those following such trends should not be victims of such massive dumping because when it happened the price crashes.

Though, there is huge value in trending but that value is only in timing.

[moderator's note: consecutive posts merged]

[posi]

Though $TSLA's marketcap is a whopping $807 billion, a $1.5 billion allocation to bitcoin with their $19.3 billion cash on hand is definitely nothing to scoff at. That's a 7.77% allocation. Hot damn.


EDIT: there's going to be a lot of post reporting in this thread. I guarantee it.

You are absolutely right but the Tesla $1.5Billion investment in Bitcoin was used by Elon to test if it good to make a single transaction of billion dollars in cryptocurrency and to see the investment result base on the advice giving to him last year by Michael Saylor and Changpeng Zhao when the Microstrategy guy told him “If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC.  Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”

[jasonjm]

The news not only pushed the market to a new ATH but will also affect the shares price of Tesla and if they get the approval from SEC about crypto as a payment option the Tesla share price will skyrocket. Elon Musk is now actively involved in the crypto market and influenced the market to surge and will continue to do so. Hopefully, other companies will do the same.

[amin1372]

Elon will completely disrupt the market in near future. Don't miss the time.

[Myleschetty]

In the midst of the ban on crypto which was said by some country Central Banks, this is totally a piece of good news for every cryptocurrency investor but still, needs to be prepared for negative FUD that may be created by some institution or banks which sees cryptocurrency as their rival.

[error08]

I was about to post this in other thread where we were discussing the recent changes that Elon did to his profile on twitter (Regarding "bitcoin" in his profile) but I guess that this is a way too much important new that couldn't be buried on a thread.

For anyone that wants to see the official document : SEC filling.

What's more interesting further than Tesla betting on diversifying it's investments is this simple paragraph :

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

This my friends is the true gold in this latest filling. I truly believe that Elon will do whatever he can to push investors to gain enough traction/support to implement BTC as a payment for their cars. It will be quite a ride and it will prove quite hard indeed, but if there's one person that won't stop at nothing, it's Elon Musk himself.

Today is a good day guys!

Tesla marketcap is $815 billion and diversifying asset on bitcoin in 2021 seems more popular among big investors and companies will push its value even higher this year, no wonder some analyst predict it could reach over $100k or $300k by the end of the year.
Subsequently, after several recent tweets about doge and a bitcoin hashtag then Tesla intent to begin accepting cryptocurrency as one of the payment arrangement, positively encourage more institutional investors and companies to at least accept bitcoin as a form of payment as well. Many people want to spend cryptocurrency without having to convert it to fiat currency, some crypto-firms provide the service to do it, only if more numerous corporations, retailers, and merchants join into the sphere, then some crypto will emerge better than others as a digital currency to scale.

[DAVID GRACED20]

If you think Tesla's Bitcoin $1.5 billion buy was big... Then wait for the next big featuring of $BET token on Elon musk Bio... Wait for Apple's buy, wait for Amazon's buy. Most people missed out on investing in $doge because of doubts & undervaluation but you can make it right with BET,Dot, cake, xlm & Link
 

[MyCryptoDomains]

Also since the current pump is dependent on Musk BTC is a bit dependent on TSLA stock.

Nah I don't think that bitcoin will be dependent from TSLA stock. Bitcoin is volatile and depends on ask/demand, even if that stock dropped a lot and traders continue to buy bitcoin then the price will continue rising. Now if they will drop that amount then a crash will definitely happens since there will be a huge number of bitcoin for sell comparing to a smaller number of buyers.
Wonder estimate how much Tesla bought, January price was between $30k-$40k so ~$34k as median = BTC44k = 0.2% of the total bitcoin supply without counting the definitively lost amount!

Yeah, he bought a "tiny bit" but the splash was huge since it was Musk. If no big players join him in bulk acquisitions soon and TSLA slides, his judgment might be called into question. Need to keep the momentum going.

[Wulan_maniez]

Yeah, I heard this news also on Elon's tweet. Perhaps this is also what is becoming increasingly powerful bitcoin. The $1.5 Billion that Tesla
invested into bitcoin is a huge  amount, especially  if they  have  already  realized the plan to use Bitcoin as a  payment  method  for  Tesla,
adding to the popularity and public confidence in crypto is getting stronger.

[Sithara007]

If you think Tesla's Bitcoin $1.5 billion buy was big... Then wait for the next big featuring of $BET token on Elon musk Bio... Wait for Apple's buy, wait for Amazon's buy. Most people missed out on investing in $doge because of doubts & undervaluation but you can make it right with BET,Dot, cake, xlm & Link

I personally feel that Tesla will be able to propel Bitcoin from $40,000 to around $100,000 (and that was after PayPal took it from $10,000 to $40,000). With the Federal Reserve printing out banknotes like crazy, I expect more and more corporations (and individuals) to consider Bitcoin as a store of value. Any similar move from top corporations such as Google or Amazon is going to have a huge impact, although I am not expecting that at least in the first half of 2021. The real impact from the increasing M1 supply will not be visible immediately, so there is no urgency or haste from the part of these corporations.