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Bitcoin Hits New Highs After Tesla Gets Crypto Religion

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Bitcoin Hits New Highs After Tesla Gets Crypto Religion

Elon Musk revealed today in a 10k filing that Tesla has bought $1.5B of the first cryptocurrency, Bitcoin, and will accept Bitcoin at Tesla for payment going forward.

Which is just the start because now that Tesla has broken the seal – and seen its stock surge in response – expect every other company in the S&P to follow in Tesla’s stock-boosting footsteps and convert a little (or not so little) portion of its cash reserves into bitcoin, sparking Bitcoin’s next ramp higher to $100,000 and beyond, wrote Zero Hedge.

With the Biden administration busy furiously debasing the USD even further, alternative reserve currencies will be in high demand.

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