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Best Cryptocurrency And Gold To Invest In Usa !

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The price of Bitcoin surged to an all-time high of $48,000, after Tesla, revealed that it had purchased $1.5 billion of the cryptocurrency. In its annual 10-K regulatory filing with the Securities and Exchange Commission (SEC), the electric automaker revealed that it had stockpiled Bitcoin as part of its investment strategy.

 As at today is $50,400.

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In the regulatory filing, Tesla divulged that it now held digital assets subject to market volatility:

“We hold and may acquire digital assets that may be subject to volatile market prices, impairment and unique risks of loss.

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future.

 Thereafter, we invested an aggregate of $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin 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.

This most recent news now begs the question how investors will view the electric automaker.

“I think one of the big issues we’ll see that many people had going into this was: Should I trade Tesla as a technology company? Should I treat Tesla as an automobile company? And I think now as a Bitcoin investment it changes how you look at Bitcoin itself in terms of where will this start fitting into the balance sheets of major corporations, as well as day-to-day life. How does their board, C-suite and large shareholders feel about this? It’ll be interesting to see all the parties that have a voice over the next few months, when they weigh-in, and if this philosophy changes for Tesla, a little bit more,” explained TD Ameritrade Chief Strategist, JJ Kinahan.

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In 2020, Tesla’s stock skyrocketed 500% and for a spell became the fifth most-valuable American company. By January 2021, its founder, Elon Musk, surpassed Jeff Bezos, to become the wealthiest person on the planet. As of February 2021, Musk’s net worth is estimated to be roughly $206 billion.

“If any lesser mortals had made the decision to put part of their balance sheet in Bitcoin, I don’t think it would have been taken seriously. But when the richest man in the world does it, everyone has to take a second look,” said Thomas Hayes, managing member at Great Hill Capital LLC in New York.

Unsurprisingly, the latest news of Tesla’s investment strategy ignited a Bitcoin frenzy, sending the price of the crypto to a record high. To date, the price of Bitcoin has risen over 50% in 2021. Many cryptocurrency analysts now see the Tesla announcement as just the beginning of more mainstream adoption of Bitcoin, particularly by more Fortune 500 companies.

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In light of the news, Bitcoin has now surpassed both Tesla and Facebook to become the ninth most valuable company on Earth. Its market capitalization is now estimated to be close to $900 billion.

See You On The Inside,

Oluwajana Adewale

This article was published on 23.08.2021 by Olu John
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