Day after day, Bitcoin is proving its feet on solid ground, breaking records one by one, drawing strength from major players and major companies betting that the cryptocurrency will, at some point, become part of the global financial landscape.
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Here is Tesla this time behind the meteoric rise of Bitcoin, and Elon Musk proves the correctness of his decision to trade Bitcoin today above 55 thousand dollars to achieve returns that may exceed 50% since he decided to invest in the amount of 1.5 billion dollars
The most important thing in all this scene is the positive impulse set off by Elon Musk. Who will find the cryptocurrency better than the largest car maker in the world to thrive and gain more momentum that is forming several months ago when PayPal announced the use of virtual currencies in selling And buying through its platform, through the direction of major hedge funds to invest in digital currency.
In addition to the above, Tesla's technical infrastructure has been prepared to start accepting Bitcoin as a means of payment for its products. Perhaps this is a logical end to the story of Tesla founder Elon Musk's admiration for the cryptocurrency, which appeared in many mentions and tweets on the site Twitter.
Masker's Tweets
Perhaps the tweets of the American billionaire for several months regarding cryptocurrencies including Bitcoin, a prelude to the important step of Tesla's announcement of investment in the digital currency, as Musk's signals often contributed to strong Bitcoin rallies.
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Last month, the world's largest cryptocurrency rose by about 14% on the day a mask added the Bitcoin name to his Twitter profile, before he tweeted last December, saying: Bitcoin is my safe word.
And Musk wrote on Twitter in May 2020 that the huge debts acquired by central banks made Bitcoin more attractive, adding that he only owned a quarter of the bitcoin, which was trading for less than $ 10,000 at the time. / p>
Why did Tesla invest in Bitcoin?
Away from the hype caused by Elon Musk, the outstanding question now is why ?? , According to the US company’s statement, it has gambled on Bitcoin after updating its investment policy last month to allow it to buy digital assets, indicating that it is targeting the decision to buy bitcoin more flexibility, achieving diversification and maximizing cash returns in order to maintain sufficient operational liquidity.
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Companies usually keep surplus cash or its equivalent, such as Treasury bills or commercial paper, on their books to provide operational liquidity and generate returns while reducing risk, ...
