Tesla buys 1.5 BILLION worth Bitcoins !! Good or Bad ?

[Wenbing]

Tesla brought 1.5 billion worth of bitcoins and at the same time the owner did this so that they can finally accept bitcoins as a form of payment. Now this is exceptionally amazing since, this year only Tesla did achieve such an amazing feat and Elon Musk apparently is doing a lot of good for the community , he even hosted a completion for people but let us just focus on the thing he did for bitcoins. This is an amazing opportunity since he would not only inspire people but you would also have a chance to buy things like Tesla using Bitcoins.

https://www.google.com/amp/s/www.cnbc.com/amp/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

Tesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin.

The company also said it would start accepting bitcoin as a payment method for its products.

CEO Elon Musk has been credited for raising the prices of cryptocurrencies, including bitcoin, through his messages on Twitter

They think it will help with more Flexibility and at the same time increase the cash returns .

BUT what am worried about is :
The market manipulation by Elon Musk that did happen this month on twitter , it was not only bad but at the same time it could mean that he plans to do such things in the future.

Even the author of the article seems to notice this :

The moves raise questions around CEO Elon Musk's recent behavior on Twitter, 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

This is certainly a good move but it just gives more scope for the market manipulation.

What do you guys think ?? Will this bring more Volatility in the market controlled by such Whales ?

To me i see this move to be beyond moving the market like wales. I see this as a trail blazer and a pace setter. being the first publicly traded company to invest in Btc means he has created a new way of investing for others to consider.

By being objective about my analysis, i feel this would create an enormous growth for btc. In the coming months, we shall see how other entity will follow suit. Congrats to the btc community.

TBH, it's good for now and don't know what will happen next. But, recent tweets from Elon is just done to welcome those who buy Dogecoin in Fomo at top level. But Elon is more positive on Bitcoin and even regret for not becoming a hodler of Bitcoin in the past. Also, Elon musk previously said in an interview that he used dogecoin just for meme , on the other hand, now more searious about bitcoin which indicates that it won't become a problem in the long run.

Which is very true. We all know that Dogecoin is created purposely to be used for jokes. So, making fun with it by anybody shouldn't be an issue because that is its original purpose.

But, btc is not created for joke nor for entertainment, so its for serious investment such as this by Tesla.

Hence, while Dogecoin is for serious joke, bitcoin is for serious investment by serious entities like Tesla.

[moderator's note: consecutive posts merged]

[Renampun]

....

Which is very true. We all know that Dogecoin is created purposely to be used for jokes. So, making fun with it by anybody shouldn't be an issue because that is its original purpose.

But, btc is not created for joke nor for entertainment, so its for serious investment such as this by Tesla.

Hence, while Dogecoin is for serious joke, bitcoin is for serious investment by serious entities like Tesla.

see how Elon musk leads opinion...
I agree with Dogecoin as a people currency because of its low fees and large amounts while Bitcoin is more inclined as an investment asset. Elon musk takes bitcoin and dogecoin seriously but he brings doges like jokes to keep his followers entertained.

[Yatsan]

This is frankly a good news to hear of course because knowing Tesla when it comes to popularity, for sure many people have already been thinking to get engage into Bitcoin now that a very well known company gets their interest upon buying $1.5 billion worth of Bitcoin that gets the financial community and crypto community on hype with this happening. It is good because first of all the owner himself clarify that this is getting ready for the future accepting Bitcoin as a mode of payment which we are all have been dreaming for a massive adaption of Bitcoin usage and be accepted as a mode of payment. With this, we can say that it is just so good despite the fact that Bitcoin gets even more expensive making it real hard to purchase even a small part of it.

[Twentyonepaylots]

Personally, it is both a good and a bad news, why you ask? Well it is good because of the fact that it pumped the price of bitcoin, sufficient to even force it to reach an ATH, plus the publicity this caused urged more people to buy bitcoin, be it veteran investors or plain-old newbies.

It is also bad because there is yet another whale we are at the mercy of to be worried about. Yes it's Elon, yes he's very supportive of the coin and is not going to be easily swayed against bitcoin, but people, one click of a button and he'll cause a huge crash on the market. You have to think about that.

[vintages]

What I love most about this news is that they want to use as a method of payment. Some times, we most times forget then sole purpose of Bitcoin because of the price pumb.
Additional, we hope the Tesla CEO won't use this means to manipulate the price of Bitcoin

[Jating]

What I love most about this news is that they want to use as a method of payment. Some times, we most times forget then sole purpose of Bitcoin because of the price pumb.
Additional, we hope the Tesla CEO won't use this means to manipulate the price of Bitcoin

The only way he can manipulate the price is to dump all their holdings, but I doubt that he will allow that to happen. It is obvious that Elon is here to used bitcoin as their main reserve asset investment and as you have said if they are going to allow it as payment method in the future, doesn't make sense to manipulate it as it will have drastic effect on their business decisions.

This news hasn't sink it as well, and it could again set a precedent for other mega companies on whatever sector to join bitcoin and do what Elon Musk did here, not just for himself but for the investors of his company as well.

[Review Master]

Hence, while Dogecoin is for serious joke, bitcoin is for serious investment by serious entities like Tesla.

Indeed, BTW there are some new or rumors of apple's going to accept crypto as a payment gateway which is spreading a huge hype for bitcoin. If that becomes true and Apple do so, than market bullish trend will hype up again as Tesla and Apple is getting into crypto world. TBH, Bitcoin is more than a serious invetment assets and its adoption is going on.

[SirLancelot]

Certainly a good thing for all of crypto adopters; seriously, when he started hyping cryptocurrencies like Dogecoin and Bitcoin I was suspecting he’s up to something and then later he said he only owns very small amount of Bitcoin that a friend sent him years back, and I think he said 0.25 BTC or so, and he also said that he doesn’t own any Dogecoin but he keeps on hyping this particular coin lol.

Isn’t it possible that he secretly owns some of these coins but don’t want to open up about it and have decide to keep it a secret? I mean apart from this $1.5 billion that his company invested, a personal investment I mean.

[blockman]

Many do think that it's not good for adoption. But this is what we like before, a company that adopted and bought bitcoin. Then, we'll think about manipulation.
In that news, what do we really want? if a company buys, we can't stop them from doing it. A company as big as Tesla can buy many as they can.

[k@suy]

Many do think that it's not good for adoption. But this is what we like before, a company that adopted and bought bitcoin. Then, we'll think about manipulation.
In that news, what do we really want? if a company buys, we can't stop them from doing it. A company as big as Tesla can buy many as they can.

I agree to you, who are we to force them not to buy? They have a lot of money so they can accumulate more not because they are reportedly bought 1.5B coins we can stop them for everything that they wanna do, there's a lot of whale in the market the only difference is these whales doesn't publicly announce they bought huge amount but they can sell anytime that they wanted. But companies adapting bitcoin is good and will create influence to other people and companies.

[btc_angela]

Many do think that it's not good for adoption. But this is what we like before, a company that adopted and bought bitcoin. Then, we'll think about manipulation.
In that news, what do we really want? if a company buys, we can't stop them from doing it. A company as big as Tesla can buy many as they can.

Anything that is good news to bitcoin will also be good for adoption, it outweighs the cons, like manipulation because these companies are investing not to get involved in playing the price but rather they see bitcoin as an instrument for their reserve assets. I do hope that those who see negative things about Tesla involving themselves in crypto with that huge investment will understand the rationale behind.

[Argoo]

What I love most about this news is that they want to use as a method of payment. Some times, we most times forget then sole purpose of Bitcoin because of the price pumb.
Additional, we hope the Tesla CEO won't use this means to manipulate the price of Bitcoin

The only way he can manipulate the price is to dump all their holdings, but I doubt that he will allow that to happen. It is obvious that Elon is here to used bitcoin as their main reserve asset investment and as you have said if they are going to allow it as payment method in the future, doesn't make sense to manipulate it as it will have drastic effect on their business decisions.

This news hasn't sink it as well, and it could again set a precedent for other mega companies on whatever sector to join bitcoin and do what Elon Musk did here, not just for himself but for the investors of his company as well.

Tesla's investment of $ 1.5 billion in bitcoin should definitely be taken as very good news for cryptocurrency and, above all, to increase its liquidity. This is a direct example for imitation primarily by business structures, which is still lacking in decentralized cryptocurrency.
Also, a very large contribution to the development of a decentralized cryptocurrency will be the introduction of Bitcoin payment for the purchase of Tesla cars. The use of cryptocurrency as a means of payment, and above all bitcoin, is already critically lacking for its further development.

[Shasha80]

The effect of TESLA buying Bitcoin in large quantities makes the Bitcoin price even more bullish,  this is a positive thing and I am sure Bitcoin holders
want it. TESLA is a large company that can certainly have a big influence on the crypto world, therefore what TESLA is doing can definitely make other
big companies start considering investing in Bitcoin. If this happens then massive adoption will occur, it will even make some merchants consider
making Bitcoin a payment option.

[yohananaomi]

The effect of TESLA buying Bitcoin in large quantities makes the Bitcoin price even more bullish,  this is a positive thing and I am sure Bitcoin holders
want it. TESLA is a large company that can certainly have a big influence on the crypto world, therefore what TESLA is doing can definitely make other
big companies start considering investing in Bitcoin. If this happens then massive adoption will occur, it will even make some merchants consider
making Bitcoin a payment option.

side that could be seen as advantageous for the development of bitcoin by what Tesla did. we clearly know that the exchange market between Tesla and Bitcoin is competing. I agree with you that large companies that buy will affect many sectors and many other companies will also buy bitcoin. but from a business point of view there could be something we don't know about what Tesla is doing. in the end we will find out what it means to buy a lot of bitcoin, not now.

Actually, without any major purchases made by Tesla, if you look at the halving of bitcoin this year is the year of the rise of bitcoin so this could have been known by @elonmusk as the head of Tesla. Until now we also have to admit that the influence of Tesla is still felt and will make bitcoin increase from the Halving effect more quickly to be realized. hopefully this will also increase altcoins can also move.
we will soon continue to see a sharp increase in all coins because everything seems to be moving from old coins or just entered the exchange. This is certainly a positive aspect and hopefully it can last a long time.

[torrantz]

If Tesla bought bitcoin because of Flexibility doesn't that means they gonna utilize it for remmitance and not just for investing or bagholding?
In my opinion, this massive buying is good for the crypto market since this gonna make many people aware of the existence of cryptocurrencies that have many benefits if taken advantage properly. Though some people might oppose this because they think it's gonna centralize bitcoin supply to certain companies but without this the cryptocurrency market will definitely grow at slower rate than it is right now

[cabron]

The news was that Tesla's Stock is dipping due to Elon buying BTC. It would look as if Elon is fucking with his investors, $50B is wiped out. I just read it on https://cointelegraph.com/news/50b-wiped-from-tesla-after-btc-buy-but-mastercard-and-twitter-surge

Its shareholders are selling and probably buying BTC as well. It says that they could be stacking BTC as a reserve. It must be a good thing for Bitcoin.

[HakaseMarui]

Its a good one for sure and actually its not just Tesla who bought bitcoin.. Big Companies are Buying into Crypto-Mania and There are at least four big reasons corporations are diving in.

[hatshepsut93]

BUT what am worried about is :
The market manipulation by Elon Musk that did happen this month on twitter , it was not only bad but at the same time it could mean that he plans to do such things in the future.

I'm not worried about this, Bitcoin is not that easy to manipulate. Yes, Elon stirred some movement, but he can't do this forever, sooner or later the market will tire of it. More and more people are realizing that Elon is just trolling when he talks about Dogecoin.

And it's unlikely that he would manipulate the Bitcoin market for personal gain, he's already the richest man in the world, what's the point?

[iTradeChips]

BUT what am worried about is :
The market manipulation by Elon Musk that did happen this month on twitter , it was not only bad but at the same time it could mean that he plans to do such things in the future.

I'm not worried about this, Bitcoin is not that easy to manipulate. Yes, Elon stirred some movement, but he can't do this forever, sooner or later the market will tire of it. More and more people are realizing that Elon is just trolling when he talks about Dogecoin.

And it's unlikely that he would manipulate the Bitcoin market for personal gain, he's already the richest man in the world, what's the point?

Unless, he wants to gain much much more under bitcoin so he can use more and more money for his science and space endeavors. You know, make some strategies for him to get more and more money. He knows well that the market will not treat him buying bitcoin very lightly and it shows in the decrease of stock price of Tesla. But he does not really case I think because he still have billions to use for his projects and has Bitcoin to give him extra boost in case the crypto increased in price.

[maculeth]

for now it is very good for bitcoin because in the end the market can pump up to the moon. But we don't know what Elon Musk's plans are next, whether it will be good for Bitcoin or not. because with the huge investment he has now, he can do anything.