Tesla and Elon Musk Buy Bitcoin — This is End Game Now
Buckle up — things are about to get interesting
Elon Musk and Tesla just bought $1.5 billion in Bitcoin.
Holy shit.
Bitcoin’s price soared to record highs of $48,000 and is currently sitting around $46,283. This, however, means a lot more than crazy short term gains.
Elon Musk just started the end game.
He put 15% of Tesla’s cash reserve into crypto.
This move will ignite a domino effect. More companies are going to start adding Bitcoin to their portfolio and cryptocurrency will reach wider mainstream appeal.
“One by one, corporations will add Bitcoin to their balance sheets and it couldn’t get bigger than Tesla,” said Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno in Singapore. “Imagine if 100 companies start putting even 1% into Bitcoin, what that is going to do to demand and supply.”
What you should know
In order to understand Bitcoin's meteoric rise this year, you have to understand “purchasing power.” Purchasing power is the amount of goods or services you can buy with your money. It’s important to understand this concept because inflation is constantly decreasing your purchasing…
