Elon Musk endorses Bitcoin

M

mlawson71

Tesla issued an announcement: “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,”

What is more, the company, which is the largest producer of electric vehicles in the world, has invested 1,5 billion USD in Bitcoin. All this caused the Bitcoin price to skyrocket to an alltime high – after Tesla’s announcement its price jumped with a whopping 16% to 44,795 USD and it continues to move north. This move by Tesla pushed Bitcoin into the mainstream more than ever.

Tesla’s shares also rose with 3% after the announcement.

Bitcoin rallied after that announcement and it is still quite bullish. We may see it hit 50,000 USD sooner than expected.
 
Once they make a sale a responsible corporation would hedge that currency risk
So after each sale expect that Bitcoin after being held by the consumer to be dumped/converted on the cash market
So the more Bitcoin is used the less hoarding of it the greater prompt supply
 
S2007S said:
Bitcoin bubble. Sure it may go to 50k maybe even 60k or 100k but the ride down will be just as epic as the rally has been.
More...
Such surety should be welcomed, as you'll be able to make money on the upside and downside.
 
Mercor said:
Once they make a sale a responsible corporation would hedge that currency risk
So after each sale expect that Bitcoin after being held by the consumer to be dumped/converted on the cash market
So the more Bitcoin is used the less hoarding of it the greater prompt supply
More...
%%
THAT;
+ with the SEC fine+ good idea on electric vehicles.Long term average =66.6%.
Sure/ some ETFs have done better with his car co in in;
looks like ARK founder, she did much better/sold it with a 10% position.........:D:D:D:D:D:D:D
Tulip mania was so exciting, except when the game stopped so suddenly.
 
1 Tesla = 1 Bitcoin

I am going to download a car....

------------------------------

So Tesla is up 500MM since their buy in. Reminds me when SouthWest Airlines bought a shitload of oil futures (as a hedge, airplanes use gasoline), then most of their profits came from trading, not carrying passengers.
 
S2007S said:
Bitcoin bubble. Sure it may go to 50k maybe even 60k or 100k but the ride down will be just as epic as the rally has been.
More...
I would think you would be more pessimistic towards fiat then bitcoin from all your other posts
 
S2007S said:
Bitcoin bubble. Sure it may go to 50k maybe even 60k or 100k but the ride down will be just as epic as the rally has been.
More...

You can't ride down because you can't really short it, so all the fanfare is useless if you can't trade what you think will happen.
 
MrMuppet said:
What? Why wouldn't you be able to short it?
More...

Counter question...I could go onto Coinbase, open up a brand new wallet with zero dollars, short a coin and get 40K instant money? Neat! Let me go do that, short 100 of them, and retire to an island with no Internet. After all, BTC is totally anonymous.
 
You must log in or register to reply here.
Back
Top