(CQ Livingston) Elon Musk has been pushing cryptocurrency for a while. Now, he’s putting his company’s money where his Twitter is.
Related Extreme Silver Shortages Hit The Physical Silver Market
by CQ Livingston, February 8th, 2021
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.
This move by Musk and Tesla could be an bellwether of discontent with fiat currencies as millions are jumping into the blockchain phenomenon. It could also be a tell that Tesla is leading the charge into a currency shift in hopes that they’ll be able to lead the way as an automotive company pioneer.
In retrospect it was so obvious.
Back on January 9, when discussing the recent surge of institutional and corporate purchases of bitcoin and conversion of cash into the cryptocurrency, we said that it was just a matter of time before Elon Musk joined MicorStrategy and bought “several billion” in bitcoin. Specifically, in “How Bitcoin Hits $100,000 Next: Morgan Stanley Boosts Stake In Microstrategy, Opening The Floodgates” we said…
One such company which we are convinced will announce it is converting billions of its existing cash into bitcoin, is none other than Tesla, whose CEO Elon Musk was urged by MSTR CEO Saylor to make a similar move with Tesla’s money. And since Musk, already the world’s richest man thanks to the most aggressive financial engineering on the planet, has never been one to shy away from a challenge, we are absolutely confident that it is only a matter of time before Tesla announces that it has purchased a few billion bitcoin.
Could car-buyers be bringing their cryptowallets to dealerships instead of relying on bank loans in the near future? Tesla seems to think so.
Stillness in the Storm Editor: Why did we post this?
The news is important to all people because it is where we come to know new things about the world, which leads to the development of more life goals that lead to life wisdom. The news also serves as a social connection tool, as we tend to relate to those who know about and believe the things we do. With the power of an open truth-seeking mind in hand, the individual can grow wise and the collective can prosper.
– Justin
Not sure how to make sense of this? Want to learn how to discern like a pro? Read this essential guide to discernment, analysis of claims, and understanding the truth in a world of deception: 4 Key Steps of Discernment – Advanced Truth-Seeking Tools.
Stillness in the Storm Editor’s note: Did you find a spelling error or grammatical mistake? Send an email to corrections@stillnessinthestorm.com, with the error and suggested correction, along with the headline and url. Do you think this article needs an update? Or do you just have some feedback? Send us an email at sitsshow@gmail.com. Thank you for reading.
Source:
Leave a Reply