Tesla And Elon Musk Buy Bitcoin | GAME OVER
Tesla & Elon Musk Buy Bitcoin | Bitcoin All Time High
Subscribe: / @selfmadewealth
New video every: Monday, Wednesday, Friday and Sunday
-------------------------------------------------------------------------
Tesla on Monday said it bought $1.5 billion in bitcoin, a purchase that comes after CEO Elon Musk has promoted the cryptocurrency and other digital-currency alternatives on Twitter. Hi, everyone! Today you will find out how Elon Musk changed the bitcoin game. The news caused the price of Bitcoin to jump 17% to $44,220, a record high. Tesla said it was trying to maximize returns on cash that is not being used in day-to-day running of the company. Tesla also said it will start accepting payments in bitcoin in exchange for its products. It said that since the decision was approved by its audit committee it had “invested $1.5bn in bitcoin under this policy and may acquire and hold digital assets from time to time or long term”. The $1.5 billion worth of bitcoin will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments. It comes days after Musk added "#bitcoin" to his Twitter profile page, which drove up the price. He removed it days later, but has continued talking up Bitcoin and other cryptocurrencies, including Dogecoin, which jumped 50% after his endorsement. Bitcoin prices surged to new highs Monday following Tesla’s announcement, reaching a price of at least $44,200. Tesla has made the first move. One of the largest companies in the world now owns bitcoin and, by extension, every investor that owns Tesla, or even just an S&P 500 fund, has exposure to it as well.”
Bitcoin made a parabolic move surging past $47,000 having it's largest daily green candle in history and could hit $50,000 in the coming days. Bitcoin pumped due to the news of Elon musk's Tesla investing $1.5 billion into it and has RBC Analysts saying Apple should take a position in Bitcoin and also build it's own crypto exchange and BTC wallet. Microstrategy CEO Michael Saylor went on CNBC today to discuss Tesla's investment in Bitcoin stating the following "Tesla $TSLA has de-risked the acquisition of bitcoin by public companies and accelerated the digital transformation of corporate balance sheets. Treasurers are now thinking about how to convert a non-performing asset into the best performing asset." Ex-OCC chief Brian Brooks calls Tesla’s Bitcoin buy a bit ‘Scary’ for the rest of world as it shows the debasement of the US dollar.The truth is that Bitcoin will not likely replace the dollar as the world’s dominant currency, what central bankers refer to as the reserve currency, at least it will not do so any time soon. To be sure, Bitcoin has many money-like qualities. A person can make payments in it, to buy a car, for instance, or a vacation, many things. All he or she needs to do is get the seller to agree to take Bitcoin in payment. And these days, all the hype has increased the number of sellers willing to do that. At least one government, a Swiss canton, will let citizens pay their taxes in Bitcoin. Of course, if you could get the seller to take it, you could pay in gold or zinc or tin as well. At the moment, Bitcoin has more hype on its side than these other commodities, but otherwise there is not a lot of difference.
-------------------------------------------------------------------------
Follow us:
TikTok: / selfmadenn
Instagram: / selfmadenn