Tesla's recent entry into the world of crypto-currency and Block-chain exchange, particularly Bit-coin, might rearrange if not set again the classification of digital currencies in the crypto- market and the amount of investments in crypto-wallets.
Tesla has recently revealed that it had acquired $1.5 billion in Bit-coin as an investment in Tesla, Inc. With the spread of these updates, the price of Bit-coin immediately rose by 10% to over $44 thousand per coin. Interestingly, the company’s decision to accept crypto-currencies, particularly Bit-coin, as a form of payment for future purchases of all kinds of Tesla cars did additionally fuel prices.
Tesla has previously reported that opting for crypto-currencies becomes inevitable. Actually, these interests have become a reality with Tesla’s purchase of that large amount of Bit-coin, as in its SEK documents. This is a smart maneuver by the company to attract investors if not heighten its potential.
On their website, Tesla declared that investment policies have been updated if not revised to get the best out of the recent changes. Tesla becomes more flexible and rather ready to diversify and maximize their returns from different sources, particularly crypto exchange. This would certainly help maintain sufficient liquidity. Tesla added that it had the option of turn money into some alternative reserve assets, including crypto-currencies and gold exchange.
In the light of these recent maneuvers, the company has invested a total of $1.50 billion in Bit-coin. Tesla, the world's first electric car company, may maintain or hold their crypto- assets for both, short and long term.
The company has an optimist scheme. It even added that the company plans to accept Bit-coin as a method of payment for its products in the near future, in accordance with the existing laws, at least initially on a limited basis.
Tesla's CEO, Elon Musk, has incited a lot of media controversy in the recent days with several engaging tweets about the crypto-currency, mainly Dogecoin. The latter has also seen a notable rise. In all cases, Tesla has now chosen to invest in crypto-currency, and this will certainly bring Block-chain exchange to its head.
In the end, Tesla’s declaration to accept Bit-coin in its transactions and dealings will turn digital currencies market around; particularly Bit-coin. This can help this crypto-currency retain its value and volume of exchange.
