Tesla SEC filing: Bitcoin has Long-term Potential and is a Liquid Alternative to Cash.
Honestly, I would have really loved to see the faces of Bitcoin and Crypto critics when they see the recent United States Securities and Exchange Commission (SEC) filing from Tesla, a company owned by the world's richest man Elon Musk, who recently bought Twitter, the worlds largest crypto hub for $44 billion, the U.S. SEC filing stated that they believe in the potential of crypto both as an investment and as a liquid alternative to cash. It's good to see a company as big as Tesla say something positive about Bitcoin and crypto, especially after the criticisms that Warren Buffet and Charlie Munger dumped on Bitcoin a few days ago, Warren said Bitcoin is not money and he won't even buy all the Bitcoin in the world if it was $25, because it doesn't produce anything and Charlie Munger said Bitcoin was stupid and evil, although their opinions are just their opinions and nothing more than that, Tesla is a holder of Bitcoin and they also accept Dogecoin for merch purchase.
There was a certain time when Tesla took Bitcoin off as a payment method due to environmental concerns and people were not sure where they stood when it comes to Bitcoin although they hold it on their balance sheet, but this recent SEC filing has shown everyone where they stand when it comes to crypto and Bitcoin, but that is not all Elon must defend his company Tesla's decision to sell 10% of its Bitcoin holding during the second quarter of last year.
Elon musk said this:
“Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet."
The filing shows that Elon Musk is super bullish on crypto and always has been, maybe not Bitcoin because of when it was taken off as Tesla's payment method, but I have explained why above, he is always in favor of digital assets, mostly Dogecoin, he also hinted on Integrating Dogecoin to Twitter that he recently bought, Elon Musk holds Ethereum, Bitcoin and Dogecoin in his person crypto portfolio according to a recent publication about him, which I think is smart, As fo companies that don't buy into crypto they probably won't be here in 15 years time, what think about that?.
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