Tesla Inc. has invested $1.5 billion in Bitcoin and expects to start accepting the cryptocurrency as payment, Bloomberg News reports. Prices for the digital asset surged to a record above $43,000 after the news.
Meanwhile, owners of Bitcoin and other cryptocurrencies are scrambling to check their own prices. The cryptocurrency markets have been in a constant state of flux in recent weeks. Between Reddit pushing Dogecoin and Tesla’s Elon Musk pushing it along, even the “meme” based crypto has seen sharp jumps. Meanwhile, other cryptocurrencies have crashed, only to rebound the next day.
This move by Musk and Tesla could be an bellwether of discontent with fiat currencies as millions are jumping into the blockchain phenomenon. It could also be a tell that Tesla is leading the charge into a currency shift in hopes that they’ll be able to lead the way as an automotive company pioneer.
As Zero Hedge noted, we should have seen it coming:
In retrospect it was so obvious.
Back on January 9, when discussing the recent surge of institutional and corporate purchases of bitcoin and conversion of cash into the cryptocurrency, we said that it was just a matter of time before Elon Musk joined MicorStrategy and bought “several billion” in bitcoin. Specifically, in “How Bitcoin Hits $100,000 Next: Morgan Stanley Boosts Stake In Microstrategy, Opening The Floodgates” we said…
One such company which we are convinced will announce it is converting billions of its existing cash into bitcoin, is none other than Tesla, whose CEO Elon Musk was urged by MSTR CEO Saylor to make a similar move with Tesla’s money. And since Musk, already the world’s richest man thanks to the most aggressive financial engineering on the planet, has never been one to shy away from a challenge, we are absolutely confident that it is only a matter of time before Tesla announces that it has purchased a few billion bitcoin.
Could car-buyers be bringing their cryptowallets to dealerships instead of relying on bank loans in the near future? Tesla seems to think so.
COVID-19 lockdowns are taking down an independent news outlet
Nobody said running a media site would be easy. We could use some help keeping this site afloat.
Colleagues have called me the worst fundraiser ever. My skills are squarely rooted on the journalistic side of running a news outlet. Paying the bills has never been my forte, but we’ve survived. We have ads on the site that help, but since the site’s inception this has been a labor of love that otherwise doesn’t bring in the level of revenue necessary to justify it.
When I left a nice, corporate career in 2017, I did so knowing I wouldn’t make nearly as much money. But what we do at NOQ Report to deliver the truth and fight the progressive mainstream media narrative that has plagued this nation is too important for me to sacrifice it for the sake of wealth. We know we’ll never make a ton of money this way, and we’re okay with that.
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The best way NOQ Report readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We need approximately $17,300 to stay afloat through March when we hope the economy will be more open, but more would be wonderful and any amount that brings us closer to our goal is greatly appreciated.
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We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
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