Elon Musk’s Tesla Buys $1.5Billion in Bitcoin and Everyone is Talking About It

ADELAIDE, AUSTRALIA – SEPTEMBER 29: SpaceX CEO Elon Musk speaks at the International Astronautical Congress on September 29, 2017 in Adelaide, Australia. Musk detailed the long-term technical challenges that need to be solved in order to support the creation of a permanent, self-sustaining human presence on Mars. (Photo by Mark Brake/Getty Images)

American electric vehicle company, Tesla, Inc has become the first automaker to acquire bitcoins worth $1.5billion for “more flexibility to further diversify and maximize returns on our cash.”

Tesla revealed in a filing with the Securities and Exchange Commission that a planned share of its assets may be invested in digital assets and that payments for its products will be made in bitcoin on a limited basis and “subject to applicable laws”.  This move will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments.

The move by Tesla, coupled with earlier moves like Tesla CEO Elon Musk adding “#bitcoin” to his Twitter bio and sharing tweets that have led more people to purchase bitcoins, has caused the prices of bitcoin to skyrocket to at least $44,200 and making

As the world marvels at Tesla’s big move, Nigerians wonder what the next move for the country will be, as the Central Bank of Nigeria recently placed a ban on the exchange of cryptocurrencies in Nigeria.

While Nigeria bans cryptocurrencies, Tesla buys bitcoin. Economics is not rocket science.

— Bhadoosky (@BhadmusAkeem) February 8, 2021

The Nigerian government bans cryptocurrency.

The richest man in the world buys $1.5 billion worth of bitcoin.

Who is wiser?

— BIGMOZEL – TOP 10 (@Bigmozel) February 8, 2021

Tesla 's $1.5 billions investment on #Bitcoin skyrocketed it from $38,000 to $44,000. I'm crying right now?. Had I know I shouldn't have withdrawn my Bitcoin yesterday. This Nigerian gov. will make you do some things out of context. ??

— ⚓ Echo Oscar ? (@Olawhaley_) February 8, 2021

Cryptocurrency is illegal in Nigeria says Emefiele.

Tesla (25x bigger than CBN) buys $1.5bn worth of bitcoins.

On the very same day….

A sharp contrast. Wisdom and folly. Knowledge and darkness.

— Morris Monye? (@Morris_Monye) February 8, 2021

Next Big Thing! Tesla Banking System! Powering Bitcoin mining with alternative energy sources and providing satellite executed transactions all over the world! #bitcoin #Tesla @elonmusk

— Happy Sailor (@happysailin) February 8, 2021

I just bought a Tesla stock. Thank you Elon #Bitcoin ?

— ? (@MichellePhan) February 8, 2021

February 8, 2021: A watershed moment for BTC. The day that Tesla announced it's holding reserves in BTC and the day that stock to flow inventor @100trillionUSD quit his job to focus full time on BTC. I think these events may be correlated: the next phase of S2F is now confirmed.

— Marc van der Chijs (@marcvanderchijs) February 8, 2021

1. Add btc to balance sheet
2. Accept btc for tesla
3. Tesla becomes best selling car
4. Tesla stock to the OORT cloud
4. Btc accepted as payment everywhere
5. Regulatory shifts on treatment of btc@elonmusk said mainstream adoption is here.

I'm trusting the plan. ?

— 0x_Infinitum (@CryptoMessiah) February 8, 2021