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SAO PAULO – Bitcoin shot up again on Monday (8) and renewed its historical maximum, once again in a movement related to the attitudes of Elon Musk, more specifically of his company, Tesla.
The electric car maker said it made a $ 1.5 billion investment in the cryptocurrency, according to a document filed with the Securities and Exchange Commission (SEC), the US market regulator.
The company said it bought Bitcoin to “have more flexibility to further diversify and maximize returns on our cash.” Additionally, Tesla said it will begin accepting payments in the cryptocurrency, “subject to applicable laws and initially to a limited extent.”
The contribution in Bitcoin will serve so that the company can have good liquidity in the assets to have greater control of its investment when it begins to receive payments of this type.
With the news, the world’s largest cryptocurrency began to skyrocket today and at 1:20 pm (Brasilia time), it recorded gains of 15.5% in the accumulated 24 hours, quoted at US $ 43,688, after reaching more $ 44,000 earlier and renew its all-time high.
In Brazil, the appreciation of Bitcoin was 15.4% at the same time, quoted at R $ 232,560.
According to Vinicius Frias, CEO of Alterbank, today’s increase helps in the movement that has occurred since last year, with several institutional investors starting to buy bitcoins, such as MicroStrategy and the Grayscale fund. “The impact [da entrada da Tesla] it is giant, being a very important validation ‘seal’ for the market ”, he says.
Also read: 8 times when Elon Musk moved the market with a tweet
Ricardo Dantas, CO-CEO of Foxbit exchange reinforces that the long-term trend of Bitcoin is on the upside. “Elon Musk’s entry shows that big investors really believe in the future of cryptocurrencies and are concerned about inflation and the dominance of the dollar in the long term, seeing the realization of Bitcoin as a store of value,” he says.
The Tesla ad represents an investment of a significant percentage of your money. The company had more than $ 19 billion in cash and cash equivalents at the end of 2020, according to the most recent filings filed with the SEC.
In addition, the movement of the automaker again sparked a debate about the behavior of Elon Musk on Twitter, which every time he comments on something causes a great movement in the market.
In recent weeks, the CEO of the company has been credited with rising prices for both Bitcoin and the cryptocurrency Dogecoin, posting positive messages that encouraged more people to buy these assets.
Two weeks ago, the billionaire added the #bitcoin hashtag to his Twitter bio, in a move that helped briefly spike the cryptocurrency’s price by as much as 20%. Two days later, he said on the Clubhouse social network that “right now, I think Bitcoin is a good thing and I am a Bitcoin supporter.”
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