Tesla welcomes Bitcoin: We are facing the new digital gold

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Elon Musk, through his electric car maker Tesla Inc, reported last month having invested $ 1,500 million dollars in Bitcoin, the most popular major cryptocurrency on the market. This news caused the price of the digital currency to reach an all-time high after increasing by 17%, which took each unit to a record price of $ 46 565 dollars.

In a filing with the US Securities Market Commission, Tesla said that the purchase of bitcoins responds to an attempt to maximize the profitability of cash that is not used in the daily operations of the company. So the tycoon plans to accept this digital currency as a form of payment for his vehicles.

It is worth mentioning that the president of Tesla, Elon Musk, has been a great enthusiast and promoter of digital currencies, because in a statement through his Twitter account he described dogecoin as “the cryptocurrency of the people”, and this made his value rises by almost 60%. Even a few days ago, Musk modified his Twitter biography by writing “#bitcoin”, which also increased the price of the cryptocurrency. What happened not only shows the effect that his decisions have on the 43.7 million followers he has on this social network, but also his influence on the media and industries around the world.

Tesla’s acceptance of bitcoin-denominated transactions can help the cryptocurrency retain both its value and exchange volume, according to analysts. The investment made in the last month makes Tesla one of the largest companies with investments in bitcoin and that allows payments through the digital asset created just 12 years ago.