Musk says that keeping bitcoin is somewhat better than cache.
The trust in bitcoin by Elon Musk, CEO of Telsa, the world’s richest man and maker of electronic cars, has raised its price to a record high. The prices of one bitcoin are currently running close to $ 54567 (Rs 39,56,631.34). Musk says that keeping bitcoin is somewhat better than cache. He says that when there is negative real interest in fiat currency (such as rupee, dollar etc.) then no fool will seek other alternatives. However, he also said that bitcoin, like fiat money, also has its drawbacks. He said that he is not an investor but an engineer and he has no investment in any publicly traded stock except Tesla. Let us know that Tesla has invested $ 150 million in Bitcoin.
To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.
— Elon Musk (@elonmusk) February 19, 2021
Bitcoin gained 16 thousand dollars in 11 days
Ever since Tesla has invested in cryptocurrency Bitcoin, it has gained about 16 thousand dollars so far. On February 8, 2021, the price of a bitcoin was close to 38 thousand dollars, which has now crossed the level of 54 thousand dollars in just 11 days. Tesla has acquired approximately $ 1.5 billion in Bitcoin. This has been done under an investment policy of the company producing electric cars led by Elon Musk. The company’s plan is to soon start accepting digital currency as payment for vehicles, meaning that Tesla cars can be purchased from Bitcoin.