Tesla Buys Bitcoin ($1.5 Billion) - It's Over - Bitcoin Begins Now.

Today marks a day in crypto history! Tesla on their form 10-K announced that they purchased $1.5 billion worth of Bitcoin AND that they are moving towards allowing people to buy Tesla products with Bitcoin!!

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Well, mark today as the day it’s all over. Tesla and Elon Musk in a recently submitted SEC filing revealed that they bought $1.5 billion in Bitcoin.

Not only that, they plan on “soon” allowing Bitcoin and potentially other crypto currencies to be used to purchase Tesla products.

Today I’m diving into this news and also DOGECoin - which Elon Musk has been talking a lot about in the last couple of weeks.

Elon is worth $200 billion. He has the ability and the money to do this without fearing the volatility of the market since he is worth so much money. Remember he is now the richest man on the planet surpassing Amazon Founder Jeff Bezos who held that top spot since 2017

Bitcoin is to me like Gold. While I don’t think it would replace actual money, it does provide a different means of a limited commodity, like gold. There are only 21 million bitcoins, which means after they are all mined out of the blockchain, there are no more to ever exist again. Meanwhile the US Dollar simply prints more and more weakening it’s value.

DOGECoin is similar to the US Dollar and doesn’t have a cap like Bitcoin. This means that the value of DOGE will likely not soar like Bitcoin did before. I don’t personally recommend DOGECoin for two reasons

#1 - it was originally created as a Meme using a Shiba Inu dog for fun.
#2 - While it’s being tweeted by Elon Musk and there is a lot of TO THE MOON shenanigans, I don’t think there is sustainability and recognition of the DOGECoin for the future as it is an unlimited resource whereas bitcoin was engineered to be limited to 21 million BTC.

Did you enjoy today's video with this Bitcoin news of Tesla Buying $1.5 billion in bitcoin? If so don't be greedy, Share it with others!!

Yours in Financial Success,
Bob

*Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions, especially in high volatile areas such as Bitcoin. Just because Tesla buys Bitcoin does not mean that Bitcoin/BTC (or Dogecoin) is right for you. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Music Credits:

End Screen: RetroFuture Clean by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/4277-retrofuture-clean
License: http://creativecommons.org/licenses/by/4.0/

BG Music: www.bensound.com