Reason behind tesla revealing their investment in bitcoin.

[Sammyesx]

Tesla reveal that they have invested in bitcoin, with a firm the size of tesla it is expected that it will definitely increase the buzz around the cryptocurrency world, since this revelation there has been a rise in the value of several of several crypto currencies which includes bitcoin, Ethereum, litecoin etc. Why did you think they made their investment public knowledge?it is a business strategy from their part or are they just being sincere?

 

[Ekuvero]

Aside the purchase of Bitcoin by Tesla the price of Bitcoin has already been pumping the effect of the Tesla purchase of Bitcoin hasn't affected the price of cryptocurrency yet cause most crypto coin are in their alt season where they are expected to hit their all time highest by the time Tesla started using crypto currency as a payment option that would be the time the effect of the Tesla Bitcoin purchase would affect the market price positively cause the price would skyrocket in just a matters of week

 

[Olajidey]

What happened there is just a marketing strategy for awareness and also am sure they will also have payment option which accepts bitcoin payment through their online platform, thou their purchase of bitcoin might be increment but bitcoin is always pumping as people are trading with cryptocurrency.

 

[Katrina76]

I have a website ware open earn many doing esy trust the trust if vary esy.

 

[sincerem]

If you're on their level you'll still make such reveal which they undertook. Investing over $1 billion into a known project isn't a Yardstick at all. They made the right call to invest so much into the coin and that made the coin to rise exponentially with other known coins like em. The future is bright for Cryptocurrency, only time will tell where the values of the coins will be in the future.

 

[Prettybabe]

Tesla announcement concerning their decision to adopt bitcoin as a payment platform is a good one.

Whether it has affected the price of bitcoin or not is what I cannot say for sure. But let's give it time... Time will reveal exactly where all these hype and strategies are leading

 

[springtech]

Tesla reveal that they have invested in bitcoin, with a firm the size of tesla it is expected that it will definitely increase the buzz around the cryptocurrency world, since this revelation there has been a rise in the value of several of several crypto currencies which includes bitcoin, Ethereum, litecoin etc. Why did you think they made their investment public knowledge?it is a business strategy from their part or are they just being sincere?

Business men world over have there strategies of making things happen. With a man of the status of Elon Musk, his fame, wealth and social class, it is expected that he will be able to create so much frenzy and noise with his bitcoin investment and such noise will create what is called FOMO (fear of missing out). Which was exactly what happened. The fear of missing out drove up the demand for Bitcoin. And according to the law of economics, when Demand increases, price rises. With this, we all saw the rise in price of Bitcoin which of course caused a ripple effect with the other cryptos.