Musk-headed company Tesla’s Bitcoin holdings exceeds $1 billion mark as Bitcoin crosses $89K. This move is more than just a publicity stunt, as the level of investment shows Tesla’s commitment to its confidence in Bitcoin’s worth even when the market behaves irrationally.
Tesla holds billion worth of Bitcoin
Source: Twitter
It would be off point to say the company is too surprised by the growing popularity of digital assets even after its efforts. There are sponsors associated with both these issues that turned out to be widely known, therefore quite a natural break for the company to buy loads of BTC in time with the recently promoted mainstream agenda.
Tesla first entered the market of Bitcoin in 2021 with the intent of making this investment of its Bitcoin holdings open-ended. Such action from Tesla can easily motivate several companies to change their business perceptions of digital assets as cryptocurrencies interest other than just the retail market.
Tesla’s strategy regarding the use of alternative currencies is a turning point in the history of the evolution of digital finance since many market players are observing how the corporation’s policy will affect the market as a whole.