Tuesday, February 23, 2021

Tesla’s $ 1.5 billion Bitcoin acquisition – COMMERCIAL INFORMATION


PHOTO: Publicity photo

Last week, lightning came from the clear sky that electric car manufacturer Tesla had invested in bitcoin, and it was a significant amount of money. The head of the company, Ilons Masks, has previously spoken positively about cryptocurrencies, but it turns out that this man also bases his words on deeds.

Tesla’s $ 1.5 billion bitcoin purchase

American electric vehicle maker Tesla said in a report to the U.S. Securities and Exchange Commission on Monday that the company had invested a total of $ 1.5 billion in bitcoin. According to Tesla, the company’s policy is to purchase and store digital assets from time to time or in the long term. The statement added that Tesla hopes to start adopting Bitcoin as a means of payment for its products, including cars, in the near future.

Cryptographic markets did not wait long after the announcement of this news, the volume of their transactions rose in the form of a parabola. The main protagonist of the news, Bitcoin, rose from the $ 39,000 zone to a new all-time high of $ 47,000.

In the footsteps of other major investors

An increasing number of large institutional investors have invested significant sums in the world’s first cryptocurrency as a long-term investment. Bitcoin has become a hedge against potential inflation, hiding behind trillions of dollars spent by federal reserves and central banks. As you know, it is not possible to print additional Bitcoin, and it is the fixed amount that attracts many to this currency. Tesla is following in the footsteps of other listed companies that have diverted the company’s money to bitcoin. One of the pioneers among the companies is Michael Sailor-led MicroStrategy, which has purchased a total of $ 1.3 billion in bitcoin. Bailcoin supporter Seilor has added to his Twitter profile, among other things, that he could give advice to Tesla’s management on how to convert dollars in a company’s account into digital assets. Mr Maska seems to have listened to the advice given.

In addition to large players, small investors can also successfully invest in cryptocurrencies. The investment application Change, created in Estonia, has been providing its users with the opportunity to buy and sell bitcoin free of charge for 4 years.

If Bitcoin doesn’t suit your taste, you can also buy other cryptocurrencies using the Change application – you can choose from more than 25 different cryptocurrencies and – in addition, from the shares of larger companies such as the main character of the article, Tesla or Apple. Change has also thought about everyday purchases – you can attach a VISA card to the application, and simply top up the application with money, use the app to pay for your favorite coffee.



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