Tesla brought 1.5 billion worth of bitcoins and at the same time the owner did this so that they can finally accept bitcoins as a form of payment. Now this is exceptionally amazing since, this year only Tesla did achieve such an amazing feat and Elon Musk apparently is doing a lot of good for the community , he even hosted a completion for people but let us just focus on the thing he did for bitcoins. This is an amazing opportunity since he would not only inspire people but you would also have a chance to buy things like Tesla using Bitcoins.
https://www.google.com/amp/s/www.cnbc.com/amp/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.htmlTesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin.
The company also said it would start accepting bitcoin as a payment method for its products.
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.
Even the author of the article seems to notice this :
The moves raise questions around CEO Elon Musk's recent behavior on Twitter, where he has been credited for increasing the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages that have encouraged more people to buy the digital currencies
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 ?