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