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    Bitcoin Hits New Highs After Tesla Gets Crypto Religion

    February 8, 2021
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    Screenshot cryptocompare.com

    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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    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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