BTC soared to a new record high on Monday, after Tesla announced that it had purchased Bitcoin for around $1.5 billion. The leading cryptocurrency reached $44,900. This development points to growing interests as investors and traders rejoice that Wall Street’s fifth largest firm has entered the cryptocurrency segment. Bitcoin bulls expect the price to reach $100,000, especially due to the 21 million-unit limited supply of the leading cryptocurrency.
Bitcoin sees ATH after Tesla adopts BTC – Source: TradingView.com Bitcoin price sees ATH after Tesla’s attack !
Tesla bought $1.5 billion worth of Bitcoin, according to the registration with the US Securities and Exchange Commission. Looking at the documents Tesla submitted to the SEC, it seems that the reason for buying BTC was to “diversify and increase revenues and add flexibility to the portfolio”. Tesla made the following statements regarding the issue:
We updated our investment policy in January 2021. With the aim of both diversifying and maximizing our cash returns that are not required to maintain operating liquidity, we have decided to invest some of this money in alternative reserve assets, including cryptocurrencies, gold bullion, certain gold traded funds and other specified assets. As part of this policy, we bought $1.5 billion worth of Bitcoin. In the long run, we can both buy and hold more of digital assets.
Tesla changes investment policy to buy “alternative reserve assets” such as Bitcoin
Car manufacturer, using reserve cash reserves to purchase “alternative reserve assets” such as Bitcoin He states that he has changed his investment policy. He also admits that he has enough US dollar balance to expand his crypto portfolio in the future. In his statements, Tesla also emphasizes that he plans to accept Bitcoin as a payment tool in a short time. Tesla made the following statements on the matter:
Also, we expect to start accepting Bitcoin as a form of payment for our works in the near future. Subject to valid clauses and initially on a finite basis…
Here are the Bitcoin claims of analysts after Tesla news
Mike McGlone: Bitcoin it now points to $50,000!
Many analysts agree that the cryptocurrency will see a price target of $50,000 in the short term due to Tesla’s Bitcoin attack. Mike McGlone, senior commodity strategist at Bloomberg, reiterated his bullish stance on Bitcoin with Tesla news and said:
Tesla could be the catalyst to increase Bitcoin’s market value to $1 trillion. The firm’s announcement that it invests in Bitcoin and accepts cryptocurrency for payment is similar to what PayPal did in October. This points to around $50,000 as the next resistance. As we previously reported as
Kriptokoin.com , Bloomberg analyst Mike McGlone stated and knew that Bitcoin will see $10,000 in early 2020. Mike McGlone, when the Bitcoin price was at the level of $ 9 thousand in the past months, gave the rumor of $ 12 thousand, and he knew it. Apart from these, there are other successful predictions of the analyst.
Alex Krüger: BTC goes to $50,000 levels
Alex Krüger, a veteran macro analyst, explained his new Bitcoin purpose after Tesla news . According to the analyst, BTC is now going to $ 50,000 levels. Alex Krüger is an analyst and economist who has made successful cryptocurrency claims.
Cheds: I’m revising my Bitcoin year-end assumption to $63,442
Cheds, a well-known analyst, revised his price claim after the Tesla breakthrough. Cheds said:
I’m revising my 2021 Bitcoin year-end assumption to $63,442.