TSLA buys $1.5 billion worth of Bitcoin, rumors swirl that AAPL could be next!

in GEMS3 years ago

"In Retrospect, it was Inevitable"

TSLA buys $1.5 Billion worth of Bitcoin and sends the price into the Stratosphere!

Perhaps the inevitable part of Elon's quote from several days back was that Elon Musk and TSLA would eventually invest in bitcoin!

For those that don't recall, Elon Musk put the Bitcoin Emoji on his Twitter account and tweeted the very cryptic phrase:

"In retrospect, it was inevitable"

Most assume that meant that it was inevitable that the world would eventually move towards bitcoin, and that's probably what he meant by it.

Continuing down that line of thinking, a filing came out early this morning that sent shock-waves through the crypto and finance community.

Elon Musk and TSLA stated that they had purchased $1.5 billion worth of bitcoin in January of this year.

This from their 10-k:

image.png

(Source: https://twitter.com/DocumentingBTC/status/1358762789960110082/photo/1)

This is YUGE for Bitcoin and Crypto...

I probably don't need to explain to you why this is a very big deal, but I will anyways.

Elon Musk is the richest person in the world and arguably the most influential at this point with a very large twitter following and the ability to move financial markets probably more than anyone else with a few well timed tweets.

TSLA is literally the darling of Wall Street right now and just about everything they touch turns to gold.

This purchase represented roughly 10% of their cash, so it's not a massive investment relatively speaking, but it is higher than some well difersified portfolio models might suggest.

Often other companies need moves like this before they will feel comfortable following suite...

There are already rumors that other large tech companies may follow along as well.

With AAPL being the one being talked about currently:

image.png

(Source: https://twitter.com/Noujfgjyjd/status/1358827939752775681/photo/1)

While I don't expect AAPL to jump in right away, I think it makes a lot of sense for them to jump in at some point.

They are sitting on a ton of cash (roughly $200 billion) that they clearly don't know what to do with as evidenced by the fact that it has been sitting there for years and continues to grow.

If they put 10% of that into bitcoin, that would represent roughly a $20 billion position.

Which would be about 13x what TSLA just did...

Then there is also GOOG and MSFT (as well as a host of others) that are probably likely to get involved at some point as well.

The fun has just begun folks!

Stay informed my friends.

-Doc

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