Elon Musk’s Tesla has confirmed about Tesla invests in Bitcoin an amount of $1.5B, and that has set the price of Bitcoin on fire.
Tesla, in a recent filing with SEC, announced the purchase which has increased the price of Bitcoin past $45K per coin. Tesla invests in Bitcoin and obviously, the price will go high!
The filing of Tesla invests in Bitcoin:
After Tesla invests in Bitcoin, they mentioned –
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.Tesla
And also, the company has indicated that it ‘may’ accept Bitcoin and other forms of digital currencies as a medium of payment and transaction in the near future and one of the steps was that Tesla invests in Bitcoin.
Besides, the CEO of Tesla, Elon Musk, also seems to work as an advocator for Bitcoin. Recently, Bitcoin price went up on hike up to 20% after he had updated his Twitter bio with ‘#bitcoin’. Also, his recent tweet regarding ‘Dogecoin’ also helped stir up some waves.
The Announcement Tweet by Elon Musk:
Though Tesla invests in Bitcoin, let’s see if it can get past the difficulties and accept Bitcoin officially.
Who is this Elon Musk:
Well if you been living under a rock for a while there is some information for you about this mad genius.
Elon Musk is the CEO of Tesla and SpaceX he was also the founder of PayPal.He is a self-thought engineer who has shocked the world with his talent. He has successfully built a billion-dollar company and also was the world’s richest man in 2021.
Fun Fact: Elon mask works 20 hours a day and 120 hours a week.
Tesla invests in Bitcoin:
Tesla is an electric car company that was founded by Elon Mask in 2003 with a mission to show the world that electric cars can be better, faster, and more luxurious than gasoline cars. Tesla’s mission is to accelerate the world’s transition to sustainable energy. Launched in 2008, the Roadster unveiled Tesla’s cutting-edge battery technology and electric powertrain. From there, Tesla designed the world’s first-ever premium all-electric sedan from the ground up – Model S – which has become the best car in its class in every category.
Tesla was the world’s first company to make a self Driving car. It is so safe that only one accident happens every 3 million miles driven in tesla. Tesla is getting better day by day. This is the car company of the 21st century. Tesla is also working on a project called Starlink. Elon says in 2022 Starlink will be able to give high-speed internet connection to each and every person around the globe. Even if you live under a rock you will be able to get 300mbps speed for only 60 dollars a month and no more hustle of cables. Elon and his company Tesla are desperately trying to change the world and give us a better life 😶.
Fun Fact: You can make a fart sound in every seat of the tesla using your teslas key 😆.Well done Elon Mask.
Let’s know more about Bitcoin shall we :
What is Bitcoin:
The easiest way to explain bitcoin is that bitcoin means online money
There is only a little bit of complexity there which I will explain. Bitcoin is basically a cryptocurrency. money can be sent both ways from one bank to another but bitcoin doesn’t support a two-way transaction. Bitcoin doesn’t have any existence in the real world it’s only ones and zeros. So be careful while working with bitcoin. In 2010 bitcoin was selling only for .06 dollars but now bitcoin is 34,178.10 dollars. If you had bought 10 dollars worth of bitcoin in 2010 you would have been a millionaire now. If we did a little bit of research and paid a little attention to bitcoin rather than our studies we would have been a millionaire now 😆. One in a lifetime opportunity missed 😶.
Fun Fact: Once a guy stored 3 million dollars worth of bitcoin in his drive and forgot the password of it. Eventually, he lost his 3 million dollars 😶.
Conclusion to Tesla invests in Bitcoin
Tesla is backed by Elon, so it is highly unlikely that they are going to face the consequences in case Bitcoin itself disappears. Maybe Elon will just raise the price high and sell all of his coins at a higher price with one of his tweets. Whatever happens, you and I will face the loss. So, think before you leap!