Tesla on BTC

Hi everyone,

The headline for today: Tesla filed its annual 10-K report this morning, and announced an 1.5 billion dollar invest in Bitcoin.

The market jumped immediately on what could be the biggest news in the complete crypto currency world:

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets.

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

Not only that Tesla invested in BTC, but they will start accepting payments in cryptocurrency!

Source: The Verge, with links in their article to the official 10-K form.

Wow! This is a big time event! It is so big, that I need to ask if this is not a prank, or an early April Fool's Day...

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