Elon Musk: Bitcoin Is A Good Thing And I Support It

Elon Musk (Economic Times)

JAKARTA - Recently, Tesla reportedly made tens of millions of US dollars worth of bitcoin purchases. This purchase was a fantastic purchase. This information is contained in a filing letter submitted to the US Securities and Exchange Committee (SEC).

Launching CNBC International, Tesla stated that this action was aimed at facilitating diversification and prioritizing returns in the form of cash. Elon Musk's electric car company also allows bitcoin owners to buy Tesla cars.

This means that Tesla is the first car manufacturer in the world to allow purchases using cryptocurrency. However, Tesla emphasized that transactions can only be carried out on a limited basis while still complying with applicable laws.

Some time ago, Elon Musk wrote the hashtag #bitcoin in his Twitter bio. This then resulted in the price of bitcoin rocketing sharply up to 20 percent.

"At this point, I think that bitcoin is a good thing and I am a supporter of it," Musk said at an event hosted on the Clubhouse app.

Tesla's decision to invest in cryptocurrencies is a new representation of the switch from cash to cryptocurrencies. Noted, Tesla had 19 billion United States dollars in cash at the end of last year.

Inevitably, Tesla's actions saw bitcoin skyrocket 12 percent on Monday, February 8. This purchase set a new record of transactions above 44,000 US dollars.

Some observers responded to Tesla's actions. They think that this is good news for the development of digital assets. This strengthens people's trust in bitcoin.

However, they also added that the development of the cryptocurrency trend is unstable. The increase that occurred is considered to be the impact of the media speculation game.

"However, Tesla may be an example for other big companies and this can strengthen bitcoin in the future," said strategist Natixis from France as quoted by Reuters.

A different opinion was expressed by the Senior Portfolio Manager of Dakota Wealth Management USA, Robert Pavlik. He believes that Tesla's actions will raise Tesla's position.

"If you are interested in electric vehicles and interested in Elon Musk, then accept bitcoin," said Pavlik.