Earlier this present year, the CEO of the United States of America’s electric carmaker company, Elon Musk has disclosed about the company’s investment of $1.5 dollars in Bitcoin trading. According to Musk, they have made this huge investment in order to gain “more flexibility to further diversify and maximize returns on our cash.” Additionally, the company has revealed in a filing with the Securities and Exchange Commission of the USA that the company has a further plan of accepting Bitcoins or other digital currencies as the payment option for buying their products. Just after this announcement Bitcoin trading has skyrocketed at once though it was the leading digital currency from the very beginning of Cryptocurrency trading. Moreover, Elon Musk’s sudden tweet has made it more worthy.
As per Wedbush Securities’ analyst, Daniel Ives Tesla has already gained almost $1 billion in hand profit from its investment in Bitcoin trading. Ives also stated that the company has got a maximum return from its investment for buying Bitcoins that is far more than they have earned from selling their electric vehicles in the last year. Literally, Tesla has become a Bitcoin billionaire within a very short span of time.
The company has revealed its prior motto for investing in buying Bitcoin that is to maximize the profit returns of its liquid amounts. The company has also pointed out its further planning to invest in particular ” alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds, and so many other assets. Tesla said, “Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. 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.”
Daniel Ives stated that investing in Bitcoin trading is completely a side business for Tesla in order to make its liquid funds work and earn extra income from those idle cash. But this initial step made by Tesla would influence other public companies too for making investments in Bitcoin trading. According to Elon Musk Bitcoin is “simply a less dumb form of liquidity than cash.” Moreover, Tesla CEO himself has a great impact in controlling the market value of Bitcoin and other digital currencies as he is on the list of the richer men of all over the globe.
Cryptocurrencies as well as Bitcoin were invented preliminarily to relieve people from the financial crisis that had risen in 2008. Bitcoin was created so that the people could manage their liquid funds themselves without depending upon any kind of bank, public company, or government, and their fees and controls. But Bitcoin trading is still in trend even after the economic crisis period has been over. The crypto craze has completely driven people to its extreme extent and at present, the number of investors in Bitcoin trading has crossed 5 million as its user found it more useful. If traded wisely, funding in buying Bitcoin can return you more than enough that your bank deposits interest rates. After Tesla’s huge investment in Bitcoin trading, most of the financial experts started saying that the value of Bitcoin will grow higher day by day. They also assume that in the future the majority of the world’s population irrespective of mediocre and rich would become Bitcoin users as well as investors. There are quite bright possibilities of permitting Bitcoin as an official payment method by governments in the near future.
Bitcoin became more popular in people than other Cryptocurrencies because of its consistent market value. Bitcoin has brought revolutionary perks in motivating people to try their luck in investing in Bitcoin. Bitcoin is the most reliable option to invest in other available Cryptocurrencies in the digital market as it has a stable market value. Moreover, it also provides investors with a lot of other benefits too like buying real estate properties for a good night’s sleep in exchange for Bitcoin at any time anywhere. To avail yourself that you just need to own a Bitcoin wallet that can be opened and operated from any smartphone or android phone. Bitcoin also gives massive efforts to protect its investors’ hard-earned investments. So you can consider Bitcoin as the safest Cryptocurrency too.
Tesla’s move to invest a huge amount in buying Bitcoin might be an indication that in the future Bitcoin might become another store of long-term market value like gold, oil, and dollar. Moreover, if the corporate world starts investing in Bitcoin it will be a permanent part of the international economic outline like dollar and gold and it will become worthy over time. So, if the investors start investing from now on they might have a huge profit in the future.