Why Tesla Bought Bitcoin

HyperChange

English - February 08, 2021 22:24 - 10 minutes - 20.4 MB - ★★★★★ - 97 ratings
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Moonshot confirmed! Tesla has purchased $1.5B worth of Bitcoin! Instead of hoarding the usual bonds and fiat as reserve assets, Tesla has decided to move ~7% of it's $19.4B in cash into Bitcoin. I think this is a genius move, and will set off a wave of rapid institutionalization of Bitcoin. Who will be the next big tech company to get in?? Are you worried about Bitcoin's energy consumption being counterproductive to Tesla's mission?