Elon Musk has long been a supporter and troll of cryptocurrencies. I am not claiming to be an expert on Bitcoin but its recent ascent has made me more hopeful of its future adoptions. Cryptocurrencies are nothing new and many investors, young and old have amassed substantial portfolios because they are very certain of the viability of the currency. Well, it has paid off because if Bitcoin is not already in the mainstream, Tesla will make it mainstream by accepting it as a form of payment in the future. The announcement also included that the company bought $1.5 Billion worth of Bitcoin, it is currently at its record high around $44,000.
So, you could potentially buy a Model 3 for 1 Bitcoin right now! The company does not accept Bitcoin yet and has not announced if it will accept other cryptocurrencies but this move will be another step towards legitimacy for all cryptos.
Thanks,
The Punkrock Capitalist
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