Elon Musk wants more Bitcoins hinting at a potential price rise

By | March 24, 2021

World’s richest man, Elon Musk also famous for his dank memes on Twitter has made a major announcement through his recent tweet.

Tesla, a car that runs on clean energy soon, can be bought using Bitcoins. This makes Tesla one of the earliest companies to accept crypto as payment. Tesla currently holds Bitcoin worth $1.5 Billion which it invested last month. 

This tweet by the Tesla owner has helped Bitcoin rise over $55,000. In the last few days, BTC had lost some ground after seeing a seismic rise in 2021.

Some experts have gone as far as calling this “the Biggest News” in the history of bitcoin. Given the magnitude of the tweet by Elon Musk, BTC should see a massive pump in its prices. Although, some investors have feared there might be a dump soon after. 

Currently, Tesla can be only bought through Bitcoins in the US, but Elon has announced that soon he will make his service available all over the world. 

This news will definitely attract new investors to Bitcoin. Elon Musk has likely started a chain of events by this move. You can expect other Big Bulls of the market to start accepting Bitcoin as a payment very soon. Elon Musk already has contributed plenty to Bitcoin’s rise with the crypto seeing a rise of over 700% in the last year through his tweets and holdings. 

As companies start holding BTC in their assets, the supply of the coin will likely reduce to the general public. Leading to a shortage of supply & a rise in demand. The price of BTC is likely to shoot up even more. There’s no doubt about that. 

Author’s Opinion: 

Bitcoin can make its investors financially free. Thus, I would not suggest anybody loosen their grips on their coins for any offers you get. The longer you hold it, the more value you will make out of it. A Tesla in return for BTC is a lucrative offer, no doubt. But don’t lose the chance to be financially free in the future. Also, the right time to buy some is now. 

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