The price of bitcoin reached as high as $48,000 on Tuesday, building on gains following news that electric-car maker Tesla has invested $1.5 billion in the cryptocurrency and may accept it as future payment for products.
Sparking the fresh surge for bitcoin was a Tesla TSLA, +0.55% regulatory filing with the Securities and Exchange Commission on Monday. It revealed Tesla acquired $1.5 billion in bitcoins in January and plans to accept it “as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”
That is as Musk has been at times voiced support for some cryptocurrencies on his Twitter TWTR, +4.87% account. In late January, he tagged bitcoin in his Twitter biography. He has also tweeted as of late about meme-inspired cryptocurrency dogecoin. Even if bitcoin’s price multiplied by five over the past year, it could still come crashing down, said Ipek Ozkardeskaya, senior analyst at Swissquote, to clients in a note. “The high volatility in Bitcoin’s value will therefore inevitably inject a certain volatility in Tesla’s revenue, and decrease the predictability of the company’s performance,” she said.
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The only thing you need to ask yourself is “ when do the puppet masters pull the plug on this farce”
On Repeat 🔁
u are late late
RelaxAndStack
Are you ok sir?
Wtf how old is this? Bitcoin has been above 45K literally since Monday, it’s record high was 48,500ish
Lol guys 😂