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> I don't see others following soon, but you never know. If other companies were going to accept BTC, they would have done so already. If you remember 5-7 yea
by mywittyname 6y ago
> I don't see others following soon, but you never know.
If other companies were going to accept BTC, they would have done so already. If you remember 5-7 years ago, there was a big push to accept BTC, so much so that local coffee shops and even NPR started accepting it for a brief period.
I think Telsa is doing it to combat the short sellers that Musk is at war with. The $1.5 billion in BTC they purchased represents something like 2% of their net asset value and the prices of BTC can be readily manipulated up or down rather significantly with relatively little capital.
Musk and his team are all much brighter and savvier than I am, so I could be wrong. But this strategy makes a lot of sense in context, especially considering the market cap of Telsa has reached absurd levels (growing 800% in one year).
- pjkundert 6y agoCrypto will be an asset class, never “money”. Nobody will generally buy stuff with it; except maybe other asset classes of investment. Fungible, large-scale, value-stable, user- and network-failure resilient cryptocurrency “money” is on the way, though. That’s going to be interesting.