Bitcoin awaits a massive leap because of Tesla

Elon Musk, CEO of Tesla, whose tweets have become a significant influence on the bitcoin price – revealed that people can now buy a Tesla car by paying in bitcoin.

In a series of tweets, Musk said that payments made through Bitcoin to Tesla to purchase cars will be kept as a digital currency and will not be converted into dollars, adding to the $ 1.5 billion bitcoin.

The price of BTC jumped right after this announcement to over $ 55,000.

After the historical rise of the BTC currency since the beginning of this year, Elon Musk has become one of the most interested in digital currency. It is reported that the world’s No. 1 digital currency has risen by more than 700% in the past twelve months, in part due to Musk’s tweets in support of Bitcoin and other digital currencies.

Crypto asset analysts argue that Tesla’s decision to accept payments for its cars in BTC and keep the bitcoin on its balance sheet rather than convert it into dollars will likely build more momentum for cryptocurrency groups in general.


Cryptocurrencies seem to be here to stay, especially after this type of procedure. As more companies keep bitcoin on their balance sheets, this is likely to cause prices to increase in the long run.

Bitcoin also got more support after Wall Street and led companies to adopt the digital currency and not miss the massive rise in it.

Last week, expectations emerged in Deutsche Bank and from a group of economists at Harvard University that the next two or three years should be a huge turning point for BTC.

The current valuation in BTC is pricing in the shift towards cross-border digital currencies; The premise is that BTC, as the leading and best cryptocurrency out there, will benefit from these influences and become an essential means of payment in the future.

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د. مرهف العطاسي

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