February 8, 2021

Should You Buy Bitcoin as Tesla Invests $1.5 Billion?

Midas Letter
Midas Letter
Should You Buy Bitcoin as Tesla Invests $1.5 Billion?
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Tesla Inc (NASDAQ: TSLA) announced that it bought $1.5 billion worth of Bitcoin (BTC). The company not only invested but would also start accepting payment for its products using the cryptocurrency.

The Bitcoin price jumped as much as 15%, with prices exceeding US$44,000 for the first time.

https://www.coindesk.com/price/bitcoin
Bitcoin exceeds US$44,000

The Tesla CEO has had a huge impact on raising the prices of cryptocurrencies, including bitcoin, through his influence on Twitter. (Even changing his display picture to an image of BTC) But a key thing to keep in mind is that Elon Musk has a large position in the crypto…

Does this news set the scene for institutional acceptance of Bitcoin and give corporations the green light to hold cash in bitcoin? Should you follow Elon Musk into the crypto space? Where is the BTC price going from here?

All of those questions will be answered and more if you watch the full Monday roundtable video.

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