Tesla came with the big announcement today, one that many of us have already intuitively knew about it, that they confessed of having bought Bitcoin worth $1.5 billion in January this year. Looks like Elon Musk's tweets hinted at it the whole time and Michael Saylor co-founder of MicroStrategy has had an influence over the wealthiest man on the planet in putting some Tesla money into BTC.
Elon Musk is planning on collecting even more Bitcoin from retail investors hands and it's not by market buying it, but by offering the opportunity to purchase Teslas with Bitcoin payments that are gonna be available pretty soon. I guess all they need is do the paper work for this form of payment and soon you'll be able to trade Bitcoins for Teslas.
If you remember back in 2017 we had all sort of dealerships accepting BTC as payment for Lambos because it was the Lambo mania back then making rich kids live like there's no bear market at the next gas station. Well, now it's time for Teslas to be sold for BTC, and I sure know at least one person who would purchase a Tesla with BTC. Not gonna name him here though. I would still pay for a Tesla in cash instead of BTC though if I were to buy one.
I know, the hype around this will be huge and many celebrities will probably make the trade, crypto twitter as well, and that's gonna be massive for crypto adoption. Lets not forget, Tesla is one of the best performing companies in the world and Elon Musk is the richest man alive. Getting richer and richer by the year.
Handing BTC over to Tesla for a Tesla wouldn't be a good idea imo, as the price of BTC might skyrocket way higher from where one would trade it for a Tesla and before you know it one BTC is worth to EVs not one. I got the feeling that pretty soon we will have a one BTC worth Model S and that should be around $100,000 with all the goodies.
I don't own BTC and can't afford a Tesla yet, but if I would buy one I would do that with cash. I still feel like cryptos are not worth spending more than for covering everyday needs as I started doing for a while with my Binance card. I'm curious though, would you buy a Tesla with BTC if having the chance?
As a bonus discussion topic I'd also like to read from you what's the next big company company that you believe will accept Bitcoin payments for their services and products?
Thanks for attention,
Adrian