The rate at which Bitcoin is increasing is very alarming also coupled with the fact that that the pandemic is still very much ravaging does not make it any easier. Now Bitcoin price has a new record high which is about $40k per coin which is incredibly high for a coin.
This increase is due to the fact that Tesla has purchased 1.5 billion in Bitcoin so that they can start accepting payment in Bitcoin. If you remember Tesla is one of the fastest growing company which its CEO briefly becoming the richest man on earth before being overthrown back by Jeff Bezos.
The company said in its own word “with more flexibility to further diversify and maximize returns.” Also Not only will they invest in Bitcoin but “digital assets, gold bullion, gold exchange-traded funds, and other assets as specified in the future”.
All things are looking good and nice for Tesla the automaker company, the companies revenue went up after this purchase and it is pretty good. This purchase of Bitcoin will give them the financial liquidity to really start and establish their Crypto payment platform. this of course will make them the first automaker company to accept payments in cryptocurrency.