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Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept Cryptocurrency

artsi

artsi

Member
Oct 26, 2017
2,684
Finland
www.bloomberg.com

Tesla Bets on Bitcoin in Blue-Chip Boost to Cryptocurrency

The world’s leading electric-car maker is getting behind the the world’s largest electronic currency.
www.bloomberg.com www.bloomberg.com

Tesla Inc. has invested $1.5 billion in Bitcoin and expects to start accepting the cryptocurrency as payment, Bloomberg News reports.

Prices for the digital asset surged to a record above $43,000 after the news.
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Looks like you can order your Model S from the factory soon using only Bitcoin.
 
Wedginald

Wedginald

Member
Oct 27, 2017
520
Canada
Was wondering why Bitcoin shot up like crazy the past little while. Broke its all time high like it was nothing.
 
THEVOID

THEVOID

Prophet of Regret
Member
Oct 27, 2017
22,841
Not shocked or surprised. I'm more surprised when companies don't put their money into BTC. Especially tech. Tesla was at Saylor's meeting last Wednesday and Thursday. Looks like he sold them. 😂
 
JimNastics

JimNastics

Member
Jan 11, 2018
1,383
People fomo'ing because all of a sudden everyone in the world is going to want to buy bitcoin to buy a Tesla! Such a joke, going to be some scary drops over the coming months with many underwater.
 
MonoStable

MonoStable

Member
Oct 27, 2017
2,051
Why would you pay in bitcoin for a tesla. People currently treat it like an investment not a currency.
 
THEVOID

THEVOID

Prophet of Regret
Member
Oct 27, 2017
22,841
JimNastics said:
People fomo'ing because all of a sudden everyone in the world is going to want to buy bitcoin to buy a Tesla! Such a joke, going to be some scary drops over the coming months with many underwater.
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That's not the important news. The main news is more companies are putting their funds into BTC as a store of value.
 
TheGoshDarnBatman

TheGoshDarnBatman

Member
Jun 16, 2018
246
This is a good move, I've always wanted to buy a car with my 2 BTC, wait can't afford it oh now I can oh wait I can't anymore
 
JimNastics

JimNastics

Member
Jan 11, 2018
1,383
THEVOID said:
That's not the important news. The main news is more companies are putting their funds into BTC as a store of value.
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That's great, I'm a bitcoin maximalist, I believe we will see 6 figures within 12 - 24 months. But anyone fomo'ing with this news is taking a massive gamble (unless they have steady hands and happy to hold for the foreseeable).
 
Xalechim

Xalechim

Member
Oct 28, 2017
126
This forum being mostly bullish on the infinite dogecoin, but bearish on the most established crypto in the market is not something I expected.
 
Window

Window

Member
Oct 27, 2017
8,282
There has to be a point where central banks come down on this you'd think but they keep letting it grow.
 
MattEnth

MattEnth

Member
Oct 25, 2017
561
San Francisco, CA
I find the "it's a bubble" lines to be fascinating. I don't believe in the "Bitcoin as a currency" narrative, but I do think Bitcoin can be a long-term store of value (like gold).

Bitcoin has institutional support now. Tesla is not the only major entrant; Bitcoin has a place as an investment for diversified portfolios. Several financial and non-financial firms have Bitcoin on their balance sheets.

The "it's a bubble" claim relies on an underlying belief that Bitcoin will go to 0, which I just don't think could possibly happen at this point (except for, maybe, legislative action). Bitcoin is here to stay.
 
iHeartGameDev

iHeartGameDev

Member
Feb 22, 2019
1,114
Today is a good day for Crypto :D


MattEnth said:
I find the "it's a bubble" lines to be fascinating. I don't believe in the "Bitcoin as a currency" narrative, but I do think Bitcoin can be a long-term store of value (like gold).

Bitcoin has institutional support now. Tesla is not the only major entrant; Bitcoin has a place as an investment for diversified portfolios.

The "it's a bubble" claim relies on an underlying belief that Bitcoin will go to 0, which I just don't think could possibly happen at this point (except for, maybe, legislative action). Bitcoin is here to stay.
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100% -- the more that major institutions (specifically Banks) invest in crypto-desks, the more "legitimate" it becomes and the less likely the "bubble" will burst.
 
LewieP

LewieP

Member
Oct 26, 2017
18,094
MattEnth said:
I find the "it's a bubble" lines to be fascinating. I don't believe in the "Bitcoin as a currency" narrative, but I do think Bitcoin can be a long-term store of value (like gold).

Bitcoin has institutional support now. Tesla is not the only major entrant; Bitcoin has a place as an investment for diversified portfolios. Several financial and non-financial firms have Bitcoin on their balance sheets.

The "it's a bubble" claim relies on an underlying belief that Bitcoin will go to 0, which I just don't think could possibly happen at this point (except for, maybe, legislative action). Bitcoin is here to stay.
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If the Blockchain got completely compromised it could happen instantly.
 
OP
OP
artsi

artsi

Member
Oct 26, 2017
2,684
Finland
MattEnth said:
I find the "it's a bubble" lines to be fascinating. I don't believe in the "Bitcoin as a currency" narrative, but I do think Bitcoin can be a long-term store of value (like gold).

Bitcoin has institutional support now. Tesla is not the only major entrant; Bitcoin has a place as an investment for diversified portfolios. Several financial and non-financial firms have Bitcoin on their balance sheets.

The "it's a bubble" claim relies on an underlying belief that Bitcoin will go to 0, which I just don't think could possibly happen at this point (except for, maybe, legislative action). Bitcoin is here to stay.
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Bitcoin is slowly becoming too big to fail, so many institutions have invested billions in BTC they can't let it crash anymore.
 
HandsomeCharles

HandsomeCharles

Member
Oct 26, 2017
3,915
jet1911 said:
I still remember when bitcoins were around 1$ each. I hate myself for not buying some just for fun. 😭
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No point in thinking that way. Of the people who have become "Bitcoin millionaires", only a very, very small number of them predicted that something like this would have happened. The majority of people just "got lucky"
 
Mezentine

Mezentine

Member
Oct 25, 2017
9,969
And the intellectual bankruptcy of Elon Musk is complete. How the fuck do you try to "change the world" with an electric car company that will help stop global warming and then turn around and invest big in one of the single largest wastes of electrical power that's directly contributing to emissions on a global level?

I don't ever want to hear Tesla defenders telling me I can't criticize this shitty company because they're "saving the planet" ever again
 
Charcoal

Charcoal

Member
Nov 2, 2017
7,509
I have $100 in Dogecoin now. I'm looking forward to being a millionaire next Thursday.
 
JimNastics

JimNastics

Member
Jan 11, 2018
1,383
Mezentine said:
And the intellectual bankruptcy of Elon Musk is complete. How the fuck do you try to "change the world" with an electric car company that will help stop global warming and then turn around and invest big in one of the single largest wastes of electrical power that's directly contributing to emissions on a global level?

I don't ever want to hear Tesla defenders telling me I can't criticize this shitty company because they're "saving the planet" ever again
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He can pump the market with a tweet and make himself even richer, I think you're overthinking his motives here. I would take his apparent backing of bitcoin on a business level with a pinch of salt for now.
 
RocketKiss

RocketKiss

Banned
Oct 30, 2017
4,691
Pay for your faulty luxury car that will be recalled in a year with gasoline powered currency!
 
Kyussons

Kyussons

Banned
Oct 25, 2017
1,414
skeptem said:
I agree he moves the market, but also don't see how it's any different from lets say warren buffet making in investment in a company and their shares going up.
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Tesla is free to invest on whathever they want but Musk shouldnt be tweeting crypto memes before this kind of investment.
 
Mezentine

Mezentine

Member
Oct 25, 2017
9,969
It really fucking gets me that it's Bitcoin specifically. I mean other options like Etherium are still bad but Bitcoin is the most egregiously wasteful currency out there right now. He could have used this as a chance to push Etherium and try to get people to migrate over to slow the burn of Bitcoin but no, he has to go for the big one
 
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