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

[Lucas*]

Imo it's a good news for Tesla at first And for investors in second step, from 34k $ to 48k$ in 24h it's a surprise ! Elon Mask now contol the market And encourage other investors to buy bitcoins And then the price Will rise into the sky.. Elon think about the future of Tesla And for sure after few years it Will be able to see bitcoin in Banks.

[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.

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.

I don't understand what others are thinking, they may have the point for their opinions but it's not always that anything that they want to think about the market can happen. Many were told that there should be a mass adoption just as it's happening right now.
But when it did, there are those that don't like it and who are thinking that it isn't good for the bitcoin community.

[N2CoinOfficial]

Elon musk is so much into cryptocurrency, because he knew the worth of the digital currencies. So that, he invested in bitcoin.

[Japinat]

...

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.

I don't understand what others are thinking, they may have the point for their opinions but it's not always that anything that they want to think about the market can happen. Many were told that there should be a mass adoption just as it's happening right now.
But when it did, there are those that don't like it and who are thinking that it isn't good for the bitcoin community.

That is because they don't understand what will happen if there is huge market adoption. They don't want the price to continue rising because they just messed up.

With what Tesla has done, I definitely find it great. They are helping a lot for crypto to attract attention and the other big companies will follow. And maybe, or it is possible that the price will soar high more as it takes. Could be unfortunate that we can't able to see the price of Bitcoin in dip again.

[masterrex]

IMHO, I think it's not bad because Tesla is a big company, and buying bitcoin with that amount brings more positive results on Bitcoin price as we experience nowadays, So overall it's not bad I believe that Tesla knows that Bitcoin and other cryptocurrencies are very volatile that's why they are aware of the risk associated in it.

By the way, they said that Elon Musk is manipulated the market, What kind of manipulation? Manipulation in a form of a tweet? I dont think so, what I believe is that investors are already aware of what they are doing and because cryptocurrency is very speculative in nature and investing in it is like a gamble. I think that was the reason they want(investors) to gamble, thats why invest only that you can afford to lose.

[Alucard1]

This is good news for the wolf of crypto, it really pumps bitcoin, and hoping that this would be the start of mass adoption, this news may also attract some other company to do same as well as many people to buy bitcoin.

So overall it's not bad I believe that Tesla knows that Bitcoin and other cryptocurrencies are very volatile that's why they are aware of the risk associated with it.

Yeah for sure, they know about that thing in cryptocurrency, before they have used a huge amount of money they have done research first about the crypto world.

[pinggoki]

I think it is good that the Tesla buys 1.5b worth of bitcoin because of this happening the bitcoin arise and set a new ath and due to this happening many people gets more interested on bitcoin. The mass adaptation that has been brought by buying 1.5b of bitcoin by tesla makes the new all time high of bitcoin and still the hype of it is there that's why the bitcoin is continuing to pump up. Overall I am seeing this as a good thing, because this become an eye opening to everyone.

[DarkDays]

How is this going to be bad news? more companies holding Bitcoin as an asset means less volatility for the whales to manipulate. Price fluctuation will lessen and there's going to be less dumping that's going to happen. This news is such a win-win situation for all.

If anything, bitcoin held by people not trading and who are using it as part of their portfolio and asset allocation decreases volatility.

People should realize this now, especially those people who are still negative about Bitcoin's volatility.

A lot are complaining about bitcoin volatility, now that btc is more than 43k, are we still hearing these complaints? Tesla buying huge amount of bitcoin is actually great news. Why we need to be pessimistic about it, right? It means, more and more known companies are trusting bitcoin or crypto as part of their investments.

How can Tesla buying in billions worth of Bitcoin be bad??? As suggested above, it actually reinforces crypto as a suitable (though, volatile) investment avenue for business alike. Since this happened the BTC market has started to move even further.

Obviously, this is all +ve and not at all negative. People are encouraged to read about crypto if they're not yet aware of it and companies as large as Tesla (dare I mention Apple) are definitely thinking hard about this.

[ChrisPop]

Personally I believe in the freedom of speech and no man, famous or not, should be denied the right to express himself no matter the subject. It is a free market after all and we are all supposed to be grown-ups. People who invest based on other people opinions need to learn the lesson as soon as possible or else they would find the consequences of not doing due diligence at 30-50 years old where the risk is much bigger.

If Elon believes in Bitcoin, it is common sense for that to reflect both on Tesla's balance sheet and on his social media. I do believe Musk is going to start a trend in corporates and not only. I mean why not  expose at least a few percentages of the cash in your company on an assymmetrical risk reward opportunity that also happens to have strong fundamentals and price history?

Remember, do your own diligence and practice sound risk management.

[Asuspawer09]

It is good because it will make the market price of bitcoin pump for sure and for even bitcoin holder we could easily make a good profit and probably hold for even longer.

At the same time, it's riskier for companies to be in bitcoin as they invested in bitcoin for potential profits holding a big amount of bitcoin for this company for sure they will gonna hold for long term.

But it could easily be manipulated when companies are holding big chunks of bitcoin, so just make sure that you are holding bitcoin when the price skyrocket because of this companies.

[adzino]

-snip-

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.

-snip-
[/quote]
I doubt he has "manipulated" the market. At least not yet. We could say he is manipulating the market if he started promoting crypto currencies after tesla invested in bitcoin. We have been seeing him being a big fan of crypto currencies and promoting them before all these happened.
But who knows what his intention might be. Maybe he is testing the market to see how much influence he can extert before starting to make profit out of it. But lets all take it in a positive way. Let us imagine he is a good guy trying to promote the usage of crypto currencies.

[TheGreatPython]

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 ?

Yeah definitely a good move for entire bitcoin community; Elon Musk was saying the other day that he’s going to buy dogecoin and show full support to the coin if the big holders should sell their coins, I think he’s just starting to play some tricks here or whatever.

Anyway, as for his company Tesla investing that huge amount of money on bitcoin, for now I am going to say that it is good because the market will start increasing now that they have done that and also since he’s a big influencer who has been linked to several bullish markets this year, that will push lots of his followers to start buying Bitcoin since they have seen him buying it.

[Maestro75]

I do not know why OP want us to compare whether Tesla buying bitcoin is good or bad. The action is a plus for bitcoin and that is evident the way the price is rushing to attain new all time high. Today price went to $50,000 and that is beyond widest expectation. Nobody believed price will get this far from the way the coronavirus pandemic destroyed economic activities from 2020 till now. It is even looking like it will go higher in days ahead. Tesla's involvement is timely and good support.

[Traderbtcc]

It must be good for Bitcoin. Any time a big company invests in Bitcoin, the price goes up. So Tesla may drive the price to $50K.

The price goes up due to F. A, it's normal whenever there's a good news about how bitcoin is accepted or bought by a big industry the price starts pumping immediately most times its fomo, people don't want to miss out on the pump, I can remember when PayPal accepted bitcoin that was the beginning of this crazy pump , anyway IMO even without tesla buying bitcoin it would have still hit the $50k  mark, it was always going to happen although it would have taken a bit longer to happen maybe a few weeks or a month.

[ven7net]

I think Tesla's purchase of BTC is certainly very good and is probably a signal to other big companies that it's time to buy cryptocurrencies. We have all been talking about the adoption of crypto all over the world for a long time, and right now we can see the beginning of this process. This is just great news and we will probably see other large companies and funds start buying crypto, which will send the price of BTC and other cryptocurrencies to the moon. But no matter how it goes on, we always need to remember about the risks when investing and make our investments thoughtfully.