The Tesla Investment is Important for Cryptocurrencies

Zacks2021-02-09

Shares or Tesla and Bitcoin are both rallying on Monday after the electric automaker filed a 10K with the SEC disclosing that they had amassed a $1.5 billion USD worth of the cryptocurrency. TSLA ...

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Comments

Ladious
2021-02-09
Ladious
Good stock
izreloaded
2021-02-09
izreloaded
Tesla and btc to the moon!!!
Mahad
2021-02-09
Mahad
Watch what another multi billion dollar company’s investment does to that price. Bitcoin is going to $150k.
- Jinkachu:
  gogog
Xaviert
2021-02-09
Xaviert
Bitcoin are not guaranteed if it collapse. Still find it hard to understand...
hibobotamus
2021-02-09
hibobotamus
Ya
TomCl
2021-02-09
TomCl
Interesting

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Tesla also stated that they had plans to accept Bitcoin as payment for their products - and in many ways, that’s the more significant development.\nAs of the end of 2020, Tesla had about $20 billion in cash and equivalents on the balance sheet, so the Bitcoin purchase represents less than 10% of Tesla’s available cash reserves. Tesla’s cost basis for the purchase was not disclosed, but the company did enjoy gains of over $200 million on the position on Monday alone.\nFor reference, Tesla earned net profits of approximately $270 million in the 4thquarter of 2020.\nWhile the news is a significant development for Tesla, it’s probably bigger news for Bitcoin and the cryptocurrency markets as a whole. Adoption as a transactional currency by a company as large and well-known as Tesla is likely to further the case for crypto as a legitimate medium of exchange.\nEven more important will be the way Tesla prices its offerings. 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In a roundabout way, the move would make Tesla something of a de facto crypto exchange agent.\nThat stabilization effect would only grow if other manufacturers of big ticket durable goods followed suit and began to accept Bitcoin as payment.\nInvestors in most companies might not be pleased to see the CEO change course so rapidly instead of focusing on core businesses, but Musk gets a lot more latitude from Tesla shareholders – primarily because of his huge success at innovation in the past.\nIt remains to be seen whether his latest move has lasting impact on the crypto markets or is simply an interesting news item, but when Elon Musk is involved, you know almost anything is possible.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":383150509,"gmtCreate":1612856813301,"gmtModify":1704874996603,"author":{"id":"3568089111846836","authorId":"3568089111846836","name":"Ladious","avatar":"https://static.tigerbbs.com/8c7a0777ad403c9882135b0067a24d7e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568089111846836","authorIdStr":"3568089111846836"},"htmlText":"Good stock","listText":"Good stock","text":"Good stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383150509","repostId":2110030616,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":383371398,"gmtCreate":1612844783614,"gmtModify":1704874895975,"author":{"id":"3562201149292674","authorId":"3562201149292674","name":"izreloaded","avatar":"https://static.tigerbbs.com/4e58593b50f2c09ebd4d701357e28c6a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3562201149292674","authorIdStr":"3562201149292674"},"htmlText":"Tesla and btc to the moon!!!","listText":"Tesla and btc to the moon!!!","text":"Tesla and btc to the moon!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383371398","repostId":2110030616,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":383351997,"gmtCreate":1612841766919,"gmtModify":1704874867129,"author":{"id":"3575933714397290","authorId":"3575933714397290","name":"Mahad","avatar":"https://static.tigerbbs.com/d21a1cdddd76775847a1d9e1cb6759ae","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575933714397290","authorIdStr":"3575933714397290"},"htmlText":"Watch what another multi billion dollar company’s investment does to that price. Bitcoin is going to $150k.&nbsp;","listText":"Watch what another multi billion dollar company’s investment does to that price. Bitcoin is going to $150k.&nbsp;","text":"Watch what another multi billion dollar company’s investment does to that price. Bitcoin is going to $150k.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/383351997","repostId":2110030616,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3523403,"gmtCreate":1612845645660,"gmtModify":1680776205750,"authorId":3569530406935035,"author":{"id":3569530406935035,"idStr":"3569530406935035","authorId":3569530406935035,"name":"Jinkachu","avatar":"https://static.tigerbbs.com/a47cb60ff4f5df9c8eac85aa6198baa0","vip":1,"crmLevel":3,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":383351997,"type":1,"supId":0,"prevId":0,"content":"<u>gogog</u>","text":"<u>gogog</u>","html":"<u>gogog</u>"}],"langContent":"EN"},{"id":383327576,"gmtCreate":1612841385095,"gmtModify":1704874865513,"author":{"id":"3569106594738371","authorId":"3569106594738371","name":"Xaviert","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3569106594738371","authorIdStr":"3569106594738371"},"htmlText":"Bitcoin are not guaranteed if it collapse. Still find it hard to understand...&nbsp;","listText":"Bitcoin are not guaranteed if it collapse. Still find it hard to understand...&nbsp;","text":"Bitcoin are not guaranteed if it collapse. Still find it hard to understand...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383327576","repostId":2110030616,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":383381669,"gmtCreate":1612838532751,"gmtModify":1704874826047,"author":{"id":"3559777051013157","authorId":"3559777051013157","name":"hibobotamus","avatar":"https://static.tigerbbs.com/9def1097625f77025e50f878beac952e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3559777051013157","authorIdStr":"3559777051013157"},"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383381669","repostId":2110030616,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":383315033,"gmtCreate":1612837961722,"gmtModify":1704874817285,"author":{"id":"3571619533976102","authorId":"3571619533976102","name":"TomCl","avatar":"https://static.tigerbbs.com/84c9633e30b56b9ef4c30ab8c67857b3","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3571619533976102","authorIdStr":"3571619533976102"},"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383315033","repostId":2110030616,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":9,"commentSize":16,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2110030616"}