Elon’s FUD Is A Problem For Tesla, Not Bitcoin
While the Tesla founder has proven inspirational in the past, with Bitcoin, he has fallen prey to his own eccentricities.Tesla's FUD bitcoin announcement doesn't mean bitcoin is overvalued; it does mean Tesla is overvalued. Tesla cars are expensive luxury items and their purchase is justified by Tesla being an aspirational brand. That brand is extremely dependent on the mystique of Elon Musk; can Musk lose that mystique? Well, he just did with Bitcoiners and soon with others too. There are many types of inflation in the world. The Federal Reserve prints money to fund an economic system....
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Elon Musk’s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and services. Tesla suspended accepting bitcoin in May, citing environmental concerns.
Tesla May Resume Accepting Bitcoin, SEC Filing Shows
Tesla Inc. filed a quarterly report with the U.S. Securities and Exchange Commission (SEC) Monday.
The company explained that during the nine months ended Sept. 20, it “purchased an aggregate of $1.50 billion....