Green candles, green candles everywhere! At the time of writing, Bitcoin is headed for $44000 (and beyond?). This Monday surge seems to be fueled by a big reveal: Tesla bought $1.5 billion in Bitcoin in January! Moreover, you will soon be able to spend your sweet crypto on the company's products.
This piece of news comes directly from the U.S. Securities and Exchange Commission. For more info, see the document in the resources section. The main part regarding BTC reads as follow:
In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, 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, which we may or may not liquidate upon receipt.
It's getting serious! Elon's magic touch (or raving madness, depending on who you're asking) will leave a deep mark on the space.
Have a nice day, guys. Stay safe and ride the wave!
Disclaimer: Not a financial advisor, nor a seer. This article only reflects my personal views on the matter, and I’m painfully aware that there are a myriad of factors that I did not (could not) take into account. My understanding is limited, the future open and the possibilities endless. Please, DYOR.
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