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Strategies & Market Trends : Ride the Tiger with CD

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To: Gib Bogle who wrote (287535)

2/16/2021 1:01:34 AM

From: pocotrader

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Tesla Adds Bitcoin to Its Balance Sheet

By Yassine Elmandjra | @yassineARK
Analyst

This week, bitcoin soared to an all-time high after Tesla announced that it would invest 8% of its cash - $1.5 billion - into the cryptocurrency. Tesla also announced that it would start accepting bitcoin as payment for its products and services.

Microstrategy, Square, and now Tesla are showing public companies the way to add bitcoin as a legitimate alternative to cash on their balance sheets. As noted in ARK’s Big Ideas 2021, we believe bitcoin will serve as an alternative to fiat cash. As a thriving company with no prior affiliation to bitcoin, Tesla could catalyze a new wave of corporations considering the diversification of cash into bitcoin.

According to ARK’s research, if all companies in the S&P 500 were to diversify 1% of their cash balances into bitcoin, its price would double from nearly $40,000 today to almost $80,000, while a 10% allocation would add $400,000.

gotta git me sum of dose bitcoin

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