After months of speculations, Tesla has made the long-awaited entry into the Bitcoin public, and the rate to a new record high maneuvered. The race to the BTC were started.
While the sensational news of Tesla’s Bitcoin start gradually in all channels has spread, took the price of Bitcoin to jump to a new record high. In just 24 hours, the largest cryptocurrency rose by about US $ 9,000 to the provisional new all-time high of 48.025 US dollars and accounted for, therefore a daily increase of 21 percent. The Countdown for a walk on the close to $ 50,000 seems.
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The announcement of Tesla has triggered the expected landslide that brought the Bitcoin price from its brief period of weakness back in rally Form. As the Request to the SEC to remove, the company has invested $ 1.5 billion to the “diversification and yield maximization of cash” in the “Reserve Asset” Bitcoin. In addition, Tesla has promised to accept Bitcoin in the future as a payment medium.
The Bitcoin Ecosystem, so it benefits in two ways from the start. The redeployment of Cash reserves legitimized Bitcoin as a store of Value and investment class among institutional investors. The beam power of Tesla is not likely to let a few companies on similar investment strategies to think. Now Apple is traded as a possible candidate. The establishment of the Bitcoin standard has, therefore, received by Tesla is a great offense.
On the other, BTC is likely to Integration as a means of payment, the creeping speed up the adaptation process. So far, Bitcoin, in practice, fails still often a lack of acceptance. BTC-integration of payment transactions is more of a wishful thinking. Tesla could collect this development engine.
The largest whale swims in the Bitcoin waters
The message was recorded euphoric in the crypto-Space. Binance CEO Changpeng Zhao, or CZ, voice on Twitter from the world’s largest whale, has entered the ring and was subsequently question the suggestive:
You know what you should do, right?
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Michael SaylorCEO of the software company MicroStrategy, thanked him outright in the case of Elon Musk. Saylor, the whole world will benefit “of this leadership,” and added:
Tesla has lowered the risk of the purchase of Bitcoin through a public company, and the digital Transformation of corporate balance sheets faster. Treasurer to think now about how to convert a non-performing asset in the best-performing asset.
By the subsequent course of explosion has paid off the Investment for Tesla. As Ki Young-Ju, CEO of On-Chain data platform crypto Quant, suspected, the company has acquired the Bitcoin in two purchases for an average exchange rate of 39,000 US dollars in crypto exchange Coinbase.
BTC-remaining empty
The entry of institutional investors, which now Tesla is allowed to melt, the available supply quantity is increasing. How to Glassnode in the current Week-On-Chain-Report showing off “the liquid supply of BTC, since investors to purchase the asset, increasingly, in the long term, and hodlen”. Thus 78 percent of the total circulation amount had already been “either lost or gehodlt”.
In total, less than 4 million BTC remain, therefore, is “left over, which can be divided under future market participants”. A very small part, if you consider the entry of big buyers such as PayPal, Square, and asset managers, or companies.
The ever-diminishing supply cannot absorb the increase in demand forever. The shortage of highlights and increases the chances “for more BTC price increases in the future.”