Bitcoin [BTC] Price Prediction Feb. 8 / How Tesla ‘s $ 1.5 billion purchase affects the price of BTC

hello everyone. before moving on to the video we ask you to
support us and subscribe to our channel please. A filing with U.S. regulators confirms that
Tesla is on board for Bitcoin payments in future. Bitcoin jumped by almost $3,000 in minutes
on Feb. 8 as reports emerged that Tesla had bought $1.5 billion worth of BTC. Data from coinmarket and TradingView tracked
Bitcoin as a sudden spike to over $43,000 appeared as news of Tesla's plans trickled
in. "In January 2021, we updated our investment
policy to provide us with more flexibility to further diversify and maximize returns
on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved
by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain
alternative reserve assets including digital assets, gold bullion, gold exchange-traded
funds and other assets as specified in the future," it states. A filing with United States regulator the
Securities and Exchange Comission shows that the company plans to buy $1.5 worth of Bitcoin. "Thereafter, we invested an aggregate $1.50
billion in bitcoin under this policy and may acquire and hold digital assets from time
to time or long-term.

Moreover, we expect to begin accepting bitcoin
as a form of payment for our products in the near future, subject to applicable laws and
initially on a limited basis, which we may or may not liquidate upon receipt." The move follows encouraging signs from Elon
Musk, the world's richest man, who last week openly stated that he was a "supporter" of
Bitcoin. Since then, however, signals have been mixed,
after Musk removed Bitcoin from his Twitter biography but continued tweeting and promoting
Dogecoin. At the time of video editing, volatility was
rampant as bitcoin passed all-time highs of $43,000. Breaking down Tesla’s Bitcoin purchase reveals
the emergence of a new corporate whale. Tesla sent shockwaves across the financial
markets Monday after a United States Securities and Exchange Commission filing confirmed that
the electric vehicle maker has added Bitcoin to its balance sheet.

Tesla’s latest Form 10-K filing for the
fiscal year ended Dec. 31, 2020 shows a $1.5 billion allocation to Bitcoin. As Bitwise researcher David Lawant points
out, Tesla’s BItcoin exposure represents roughly 7.7% of its gross cash position. He derives those figures from Tesla’s cash
and equivalents, which netted a gross of $19.4 billion by the end of 2020, or $9.8 billion
net of debt and finance leases. Tesla’s Bitcoin purchase puts it near the
top of the corporate treasuries list. Only one other company – MicroStrategy – has
purchased more of the digital asset as part of its strategic reserves. News of Tesla’s participation in the Bitcoin
market sent prices soaring on Monday. As coinmarrketcap reported, the Bitcoin price
hit a high near $45,000, easily surpassing its previous peak. Bitcoin's market cap exceeded $800 billion
for the first time. In addition to adding Bitcoin to its balance
sheet, Tesla plans to accept the digital asset as a mode of payment Tesla is spearheading Bitcoin adoption at
a crucial time in the bull market.

Given Elon Musk’s propensity to move markets,
Tesla’s newfound Bitcoin exposure could hasten retail adoption in the short term. Bitcoin has also piqued the interest of large
corporations. Microstrategy's Bitcoin-buying webinar last
week registered over 1,400 signups. As usual, when Bitcoin pumps and traders need
stable exchanges more than ever, some are almost guaranteed to go down. Service outages have been reported at major
cryptocurrency exchanges on Feb. 8, following the news that Tesla invested $1.5 billion
in Bitcoin. As Coinmarketcap reported earlier, news of
Tesla's sizeable investment broke after the discovery of a filing with the U.S. Securities
and Exchange Commission. This caused Bitcoin price to jump $3,000 in
a matter of minutes, eventually claiming a newall-time high of $44,850. Problems were reported at a number of exchanges,
including Binance, whose Boss CZ tweeted that a traffic influx was causing temporary delays
while auto-scaling caught up, and that Tesla Boss Elon Musk was to blame. Many Kraken users took to Twitter to complain
that the site was also down, although there was no official confirmation of this from
the exchange itself.

The reported outages are just the latest in
a seemingly never-ending cycle of issues to occur at major exchanges when traffic volume
spikes, causing some in the crypto community to cry "foul play". Despite assurances from the exchanges that
past issues have been addressed, platforms continue to crash on a regular basis during
high-traffic periods such as price pumps; the time when most investors want their service
to be at its most stable. Aside from news of Tesla's $1.5 billion Bitcoin
investment, the report filed with the Securities and Exchange Comission also suggested that
Tesla would start to accept Bitcoin as payment for its cars. As the company can now hold reserves in Bitcoin,
it would not need to immediately liquidate tokens acquired in this manner. Subscribe to our channel and open notifications
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