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Elon Musk has single-handedly made hundreds of millions of people into passive crypto investors. Tesla stock is 1.9% of the S&P500 by weight, and Tesla's Bitco

Elon Musk has single-handedly made hundreds of millions of people into passive crypto investors. Tesla stock is 1.9% of the S&P500 by weight, and Tesla's Bitcoin holdings makes up ~0.2% of Tesla's market cap. This means for every $100k that is invested into the S&P500, $3.50 goes into BTC.

JoshTko 6y ago
I think the most impactful aspect of this is normalizing the idea for a company to hold bitcoin on their balance sheet.
- VMG 6y ago
  the actual pioneer for this was Microstrategy https://cryptopotato.com/microstrategy-ceo-introduced-bitcoin-69000-enterprises/ https://cryptopotato.com/microstrategy-ceo-introduced-bitcoi...
  - hanniabu 6y ago
    Yup, Microstrategy pioneered it, but the brand power of Tesla will normalize it.
  - JoshTko 6y ago
    No one knows who MicroStrategy is. The impact comes from normalizing - CFOs can point to a Fortune 10 company as a precedent and buy bitcoin without looking completely foolish. Buying bitcoin can soon be normal as insuring against currency risk.
bmcn2020 6y ago
Elon has become the crypto maker or breaker. A single tweet of his can add billions of dollars to a coin's market cap. Incredibly powerful