Tesla Acquires Bitcoin for $ 1.5 Billion and Will Allow Purchase of Vehicles in Currency – Global Markets

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(TSLA) of the world’s richest man, Elon Musk, reported to US authorities today that it had acquired Bitcoin for no less than $ 1.5 billion to “enable flexibility, diversification and maximize refunds on the company’s cash”, with the company allowing customers to purchase its cars wine.

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On the face of it, this is one of the most important announcements to the digital currency ever, when a company like Tesla – which is worth more than the 10 largest car manufacturers in the world – will allow trading via the Beat. The assumption is that in the future more companies will allow this, especially in light of the fact that countries are now thinking of establishing an independent digital currency instead of the existing currencies in the market.

Following the announcement, of course, Bitcoin is flying, when at the moment it has risen by 14% and to a price approaching $ 44,000 per bit. This is not smart. A week and a half ago, Musk switched the description of his “bio” on Twitter to the hashtag Bitcoin and it flew the currency by 20%. The price of the basic Tesla 3 is $ 38,000, which means that at the moment you need less than one look to buy the model.

By the way, investors like the move and before pre-trading, the company’s share rose by 2.7%, after having already risen close to 17% since the beginning of the year. In the last 12 months the stock has risen by no less than 470%.

The reviews of Musk on social media are justified
But the current report raises serious questions about Musk’s conduct on social media. After all, he knew about the purchase, but did these actions anyway. There are those who see it as a forbidden intervention in the markets on the part of the richest man in the world.

In general, Musk (49) is a freak of tech and a complex personality, who may be suffering from bipolar personality disorder, so at least he himself claimed in a 2017 interview. You can understand that something is not completely wired in him when you hear the talk about his work habits and despite his extreme wealth – he chooses to sleep on the couch in the office.

He recently seems to have become a prominent figure on the social network Twitter (TWTR). And he – as usual – does not see with his eyes. In recent weeks, such a tweet or change he is making on Twitter has been bouncing stocks into the sky. This is what happened when he tweeted that he loves ETSY and bounced it by 9% within a day. Even when writing “GameStunk”, slang ran in the betting group “Wall Street Bets” – the share of GameStop (GME) flew by 130%. Another tweet of his into the Dogcoin currency, a currency established as a joke and based on an internet mem, has drawn hundreds of percent increase since then.

“Personally I do not understand why people invest in these types of assets. It is clear to everyone that they see them as assets, but our job is to protect investors and I make sure people do not make the right choice,” he continued.

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