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Game changer? $1.5 Billion in bitcoin now on Tesla's balance sheet

Tesla has officially joined a growing list of publicly traded companies piling bitcoin onto their balance sheet. The announcement via SEC filing comes less than one week after business intelligence outfit, MicroStrategy, hosted a two-day virtual conference explaining the merits of holding bitcoin as part of a corporate investment strategy, and providing the playbook for best practices for execution. As loose monetary policy continues on a global scale, companies like Tesla, MicroStrategy, and Square are using bitcoin as a way to maintain the value of their cash earnings over a longer, less certain time horizon.

“One of the largest companies in the world now owns Bitcoin and by extension, every investor that owns Tesla (or even just an S&P 500 fund) has exposure to it as well.”

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bitcoin, jacoutot_bryan, insights

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