Tesla bought 1.5 billion dollars in Bitcoin!!!

[yonkii 3205]

Tesla announced with a filing in SEC (link) a whooping $1.5 Billion investment in Bitcoin and also announced plans to accept Bitcoin for payments in the future! 

This amazing news came minutes earlier and created for Bitcoin a bullish outburst that brought price to new ATH of $43,300.

Can this be the ignition for a continuation of the bull run?

 

Source:

https://www.bloomberg.com/news/articles/2021-02-08/tesla-invests-1-5-billion-in-bitcoin-plans-to-accept-cryptocurrency

 https://www.coindesk.com/tesla-invests-1-5b-in-bitcoin-plans-to-accept-crypto-payments 

Edited February 8, 2021 by yonkii

[Ridam 7455]

Thanks for the update, I just read about it and cz blamed the binance crash this time for Elon Musk. The effort that Michael Slayor was applying became sucessful this time and Elon has finally taken his move and Tesla moved its fund to Bitcloin. Adding bitcoin to its balance sheet. I am certain that, Institutional Fomo is increasing significantly and we may see other big companies joining this same trend and buy btc. And all of these factor makes the bitcoin too much bullish again.

[Whited35 15285]

6 minutes ago, Ridam said:

The effort that Michael Slayor was applying became sucessful this time and Elon has finally taken his move and Tesla moved its fund to Bitcloin. Adding bitcoin to its balance sheet.

Lol, real bullrun is on the way and king of crypto i.e. Bitcoin is heading to Mars not to the Moon with Elon Musk 😜!

New ATH is already recorded and the upcoming target is $50K probably within a few days. This sort of huge investment can inspire even the small assets traders to flow with the real time market momentum, the real beauty is also on the way. 

[yonkii 3205]

52 minutes ago, Ridam said:

And all of these factor makes the bitcoin too much bullish again.

I was so confused with Elon Musk, he had removed the Bitcoin logo from his twitter lately, and then he responded that Doge was better option from Bitcoin. I didn't expect this, it is really bullish and I think that this bull run is now going to last even more and price may reach so high we won't even expect it. Perhaps three or four times higher what it is today.

Edited February 8, 2021 by yonkii
accidentally spelled "now" as "not"..

[Dormilon 2183]

1 hour ago, yonkii said:

Tesla announced with a filing in SEC (link) a whooping $1.5 Billion investment in Bitcoin and also announced plans to accept Bitcoin for payments in the future! 

This amazing news came minutes earlier and created for Bitcoin a bullish outburst that brought price to new ATH of $43,300.

Can this be the ignition for a continuation of the bull run?

@yonkii I am sure that there will be a rise in BTC in large proportions in the coming months, between Elon Musk and the help that Biden will give to US citizens, investments in bitcoin will increase and with it the price of the currency, it is clear that a important momentum for 2021, this will be the year of definitive take-off of strong cryptocurrencies and the disappearance of weak ones, many things in the future for a world in continuous change, greetings.

[rekter 8129]

6 hours ago, yonkii said:

I was so confused with Elon Musk, he had removed the Bitcoin logo from his twitter lately, and then he responded that Doge was better option from Bitcoin. I didn't expect this, it is really bullish and I think that this bull run is now going to last even more and price may reach so high we won't even expect it. Perhaps three or four times higher what it is today.

He was joking with doge. But back to your first post; Yes, of course this is fueling the bull run. Others will follow as richest man in the world just admitted that his company invested insane amount in btc. There's no way others want to stay sidelines now.

[Froshk 1828]

It's not surprising that the prices of bitcoin took another turn late last week and these was actually caused by the massive purchase recorded by the blockchain, the tesla company is gradually becoming the biggest whale in the bitcoin sphere 

[kyoukage01 3181]

6 hours ago, rekter said:

He was joking with doge. But back to your first post; Yes, of course this is fueling the bull run. Others will follow as richest man in the world just admitted that his company invested insane amount in btc. There's no way others want to stay sidelines now.

From just ~$38,000 yesterday, BTC has now reached a whopping ~$46,000 and maybe even higher tomorrow. Wow. Just wow.

 

And how are the "others" going to catch up by buying at that price range? Maybe in the next market correction when BTC becomes a bit cheaper, they might.

 

13 hours ago, yonkii said:

I was so confused with Elon Musk, he had removed the Bitcoin logo from his twitter lately, and then he responded that Doge was better option from Bitcoin. I didn't expect this, it is really bullish and I think that this bull run is now going to last even more and price may reach so high we won't even expect it. Perhaps three or four times higher what it is today.

In the SEC form you provided in a link, not only Tesla bought a HUGE amount of Bitcoin, there was also mention of them accepting BTC in the future as payment.

Quote

"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. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. 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."

- https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm

I wonder what kind of kind of system would the company prefer? Would they entrust themselves to the current exchanges? I guess their next bombshell announcement will be that they will create their own crypto exchange 😁 . They have the capital to make that investment, I am sure.

 

[yonkii 3205]

7 hours ago, kyoukage01 said:

I guess their next bombshell announcement will be that they will create their own crypto exchange 😁 . They have the capital to make that investment, I am sure.

I don't think Tesla will create a crypto exchange because it will be very different from what they are doing. I read some rumors about Apple getting in the game and creating an exchange and an ios app, perhaps with similarities to the paypal model. 

[rekter 8129]

13 hours ago, kyoukage01 said:

 

And how are the "others" going to catch up by buying at that price range? Maybe in the next market correction when BTC becomes a bit cheaper, they might.

 

This depends purely on your perspective and view of market cycles timeline. Imho this will pump so hard that 2017 top will show as a tiny blimp on the chart next to this one. Similar what 2013-14 top was next to 2017 And this one is far from over.

 

Obviously this is not a financial advice, i am most likely just delusional with my predictions :).

 

5 hours ago, yonkii said:

I don't think Tesla will create a crypto exchange because it will be very different from what they are doing. I read some rumors about Apple getting in the game and creating an exchange and an ios app, perhaps with similarities to the paypal model. 

 

I would also find this very weird. How ever i could see them looking for new dapp solutions on their firmware or partnerships with fast payment networks. But this wouldn't happen in ages as those aren't customer friendly yet.

Edited February 9, 2021 by rekter

[Dorjoy12 8962]

On 2/8/2021 at 7:16 PM, yonkii said:

Can this be the ignition for a continuation of the bull run?

Why not?? Already  btc touched today 48k usd and Planning  to touch up 50k usd..also from a source i have come to know that apple also planning  to buy bitcoin and if it come to true  then where will go bitcoin, no one know actually.. The institutional bitcoin use already  started..

[kingcrypto27 168]

Hello dear friend, thanks for your information, Yes I know the info that tesla have invested money at Bitcoin and it's a good sign for cryptocurrency. This tesla news increase the Bitcoin price, also many people or company will come cryptocurrency in the futures.

[Kanji 965]

@kikifam Thats the very truth there are so many ways to see this and the best you can imagine is to understand how values are well and effected to so many ways that we see out there we need to really define that wonderful key that is effective to so many ways that we are able to grow this size this is really tough to understand that we can build something with hypes this hypes are effective

[kyoukage01 3181]

17 hours ago, yonkii said:

I don't think Tesla will create a crypto exchange because it will be very different from what they are doing. I read some rumors about Apple getting in the game and creating an exchange and an ios app, perhaps with similarities to the paypal model. 

What I posted over there was a wild guess 😉 .

 

Elon Musk has been making jokes and tweets on crypto all this time. Who of us commoners from the past week ago knew that his company will invest THAT much?

 

Who knows, maybe what I've written over there might happen. Tesla do need a platform for crypto payments after all, either they partner with existing payment companies or make one themselves. If they choose to make their own payment platform so they won't be under the bootheel of other companies, and turns out to be profitable, the next step would be to try to make their own exchange as well, in a way that they (probably) won't have to deal with the SEC like the other US-based crypto exchanges. This idea is crazy, I know. But if there's a slim chance that something might happen, then it might.

 

How about updating the topic with this one as well?

https://markets.businessinsider.com/currencies/news/elon-musk-tesla-bitcoin-bet-immense-risk-price-fall-2021-2-1030061906

 

11 hours ago, rekter said:

This depends purely on your perspective and view of market cycles timeline. Imho this will pump so hard that 2017 top will show as a tiny blimp on the chart next to this one. Similar what 2013-14 top was next to 2017 And this one is far from over.

I don't know much about the very fine details that caused the 2017 BTC pump to crash so hard, but from what I've read, just a few minor setbacks was enough to make it tumbling down. This year is different. BTC did dived a bit with two major news (link) but it didn't followed the same pattern as 2017's. Today's BTC performance makes 2017 seem like a joke. Indeed, we can no longer compare 2017 with this year.

 

Remember when BTC prices went DOWN to almost $30,000 last month (January)? And from what I understand, according to the SEC form Tesla acquired Bitcoin, also in January this year. Do you think the reason BTC didn't nosedived to oblivion when there was negative news spreading around last month is because Tesla acted as a cushion and has been buying those coins when it got cheap? Coincidence, maybe? So maybe the next time BTC falls again, another company will pick up cheaper BTC, emulating what Tesla probably(???) has done.

 

Edited February 10, 2021 by kyoukage01

[Dang3r 103]

Many of the users of this forum came to the conclusion during the first weeks of January that Elon Musk and his company would make the cryptocurrency market explode and many said that it was impossible because he was not a major figure in the crypto world, today we see that those members were wrong and that the richest man in the world can achieve the impossible.

 

Fun fact: Tesla made a lot more money in two weeks investing in bitcoin than in 12 years producing electric cars or products associated with its brand.

[Goyaa 2414]

Yes, I have heard the news, from the news I read that with Tesla buying Bitcoin in large quantities it has an impact on the increase in the price of Bitcoin, currently the bull run is still happening and the Bitcoin price has set a record. back to $ 49,500, I think Bitcoin price will continue to rise in 2021. There will be many people who buy Bitcoin like Tesla, where those people are world artists they will be interested in Bitcoin.

[yonkii 3205]

On 2/15/2021 at 2:41 AM, Dang3r said:

many said that it was impossible because he was not a major figure in the crypto world, today we see that those members were wrong and that the richest man in the world can achieve the impossible.

He took a big risk though. Maybe price will keep rising but in business terms, this was a bad move containing very high risk. Tesla had been living of government grands and aid for years, having losses each year until 2020. Only last year it managed to make 700 million profit. It is actually investing capital that it didn't create or produce but speculate with money given from american state. Maybe it has to do with SpaceX technology but as far for Tesla this was probably a 1.5 billion marketing move to capture Bitcoin people and push into buying Tesla cars. Financially this is high risk move that could backfire and damage the company viability, if it had any, as it could have been in a downfall in a different market.

[David84 1191]

I guess we have all heard about this news and it becomes the center of attention in crypto world, because it reflects the increasing trust in crypto currencies, and as it is expected the Botcoin price set off to a new record and it reached fifty one thousand Dollars so I guess we are running into a circle of price inflation, the news of Tesla increased the price and now that the price has increased more people will be encouraged to invest too.

[Tolani 174]

the team of Tesla Inc. are a very big business mogul that doesn't do things that has no future prospect for making more money, and already since the time they announced the investment in btc,  the price has risen to a whole new level which is what other lower cryptocurrencies need too,  in that so they can also get lots of investors. 

[Obliv0n 333]

It is normal, we are talking about the company that is owned by the richest man in the world, who bets on things that the rest do not consider, they learned that Tesla has three times more profits in a month than in 12 years making cars thanks to the purchase of BTC ? If someone so important invests it is for something.

[kion 381]

Well, that could be a spark in the beginning of bull run, and another side of that investment is how many people would now believe in cryptocurrecies, since they know that companies such as Tesla don't invest in things that would not yeild profit to them

[Guru2050 8284]

This is very true and it's great development to influence or stimulate the pumping of BTC positively. BTC is moving towards realizing its potential of dominating the globe becoming the fastest and highly productive means of making transactions. BTC has came to stay nothing to change such destiny

 

 

[Yuki 526]

After Bitcoin grown that much many companies and famous people around the world started investing in crypto and in more specific they started investing in Bitcoin because in a long term Bitcoin still growing and we may see it equal to 100,000$ this year 

so yes I expect the bull run will continue and alt season will be starting soon and 90% they will broke their previous ATH

[Ridam 7455]

On 2/8/2021 at 7:31 PM, Whited35 said:

Lol, real bullrun is on the way and king of crypto i.e. Bitcoin is heading to Mars not to the Moon with Elon Musk 😜!

New ATH is already recorded and the upcoming target is $50K probably within a few days. This sort of huge investment can inspire even the small assets traders to flow with the real time market momentum, the real beauty is also on the way. 

Exactly! In my view this whole year is going to be bullish for Bitcoin and same thing could go for several following years as the bullish news ain't stooping anymore. From countries to Institution, Retail Investors to Grandma, Everyone is looking for Bitcoin.

The Trillion Dollar Stimulus is still on its way😂 which is supper dupper bullish.

On 2/8/2021 at 7:32 PM, yonkii said:

I was so confused with Elon Musk, he had removed the Bitcoin logo from his twitter lately, and then he responded that Doge was better option from Bitcoin. I didn't expect this, it is really bullish and I think that this bull run is now going to last even more and price may reach so high we won't even expect it. Perhaps three or four times higher what it is today.

He loves playing and knowing new things everyday that's the reason he removed the Bio and Profile at that time. There is no suprise that Elon remove the Bitcoin logo and Bio from his profile. He ain't going to stop posting about bitcoin and sharing his visionary thought about it.

[Whited35 15285]

5 hours ago, Ridam said:

The Trillion Dollar Stimulus is still on its way😂 which is supper dupper bullish.

Lol, honestly I am waiting for that 😂 ! I am getting fears to alter the assets in my hardware wallet in the current bullish markets of cryptocurrency. Rather, I am loving to perform the active trading to make real time profits by using DOT, ETH and BNB. Just I am loving to hold Bitcoin due its impressive comeback since the December of 2020.