Bitcoin Surges To All || Time High As Elon Musk Tesla Invest $1.5 Billion

 

Bitcoin Surges To All || Time High As Elon Musk Tesla Invest $1.5 Billion

Bitcoin jumped as much as 15% after Tesla made the disclosure in a regulatory filing, with prices exceeding $44,000 for the first time.

Tesla, 1 of the worlds  most influential companies, & billionaire Elon Musk have thrown their weight behind Bitcoin is  massive sign of support for crypto currency, which has been criticized  policy makers 4 facilitating money laundering and fraud.

What does Elon Musk say about Bitcoin?

KEY POINTS Namostar

The virtual currency climbed suddenly at around $5,000  space of  trade at a price of $37,299.
Musk added #bitcoin to his #Twitter bio earlier morning and out a cryptic tweet, sayingIn retrospect, it was inevitable.

It adds to the wild volatility in markets this week, as the stock prices of heavily-shorted companies like GameStop surged dramatically.
The price of bitcoin rose on Monday after Elon Musk, the billionaire Tesla chief executive, said he was a “supporter” of the cryptocurrency. “Bitcoin is a good thing,” Musk said in comments broadcast on social audio app Clubhouse on Monday. Musk said he was “late to the party” in backing bitcoin.
But yes, I also bought dogecoin, XRP and others. ... The dogecoin price, up a blistering near-400% since late January, has failed to move much following the latest attention from Musk and Simmons.

The worlds biggest richest man in allo cating $1.5 billion of his company treasury to Bitcoin speaks volume about the magnitude @ which crypto gains institutional adoption, Antoni Trenchev, managing partner & cofounder of Nexo London.Tesla has now paved the way//

Trenchev said he expects that at least 10% of S&P 500 companies will be invested in Bitcoin by the end of 2022.
Cryptocurrency is an area of investing that is extremely volatile and difficult to really trust. That said, you can invest as little as a few dollars into an asset like Bitcoin. ... So, you can buy a few fractions of a Bitcoin up to $100 and you'll be building your portfolio.
Erik Finman says he's the youngest person to become a bitcoin millionaire. In the past eight years, he's grown his bitcoin holdings from about 100 (worth $1,000 in 2011) to nearly 450 (worth about $4.5 million in 2019).

Tesla buys Bitcoin worth $1.5 billion, to accept the cryptocurrency as payment

Bill Gates is classified as one of the richest men in the world. In 2014, Bill Gates announced that he was stepping down as Microsoft's chairman to focus on charitable work at his foundation, the Bill and Melinda Gates Foundation.

Tesla buys $1.5bn in bitcoin, pushing price to new high

Warren Buffett has repeatedly criticized Bitcoin and other cryptocurrencies as risky and worthless. "I can say almost with certainty that they will come to a bad ending," the billionaire investor and Berkshire Hathaway CEO said. Bitcoin has skyrocketed as much as 350% in the past year to record highs.

Elon Musk tweets are moving markets  and some investors are worried

This would, theoretically and unless a workaround is discovered, make it impossible to transfer Bitcoin and would prevent underground trading, likely rendering Bitcoin worthless—but this would be nearly impossible to accomplish.
The Crypto Research Report has predicted bitcoin will be worth $397,000 in 2030. A major Tesla investor has predicted that bitcoin could be worth more than $1 trillion in under 10 years

The US government owns LOTS of Bitcoin

In late 2013, the FBI shut down Silk Road, an online drug marketplace, and began seizing Bitcoins belonging to Ross Ulbricht (also known as Dread Pirate Roberts), the operator of the illicit website.
What is Bitcoin? A plunge in the value of Bitcoin this week may have been sparked by crypto-investors selling off their digital currency, experts have said. The price of a single Bitcoin crashed by double-digit percentages between Sunday and Monday, marking the largest two-day dip since March 2020, Bloomberg reported

A 51% attack refers to an attack on a blockchain—most commonly bitcoins, for which such an attack is still hypothetical—by a group of miners controlling more than 50% of the network's mining hash rate or computing power.

Who invented Bitcoin

Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database.

When bitcoin was first mined in 2009, mining one block would earn you 50 BTC. In 2012, this was halved to 25 BTC. By 2016, this was halved again to 12.5 BTC. On May 11, 2020, the reward halved again to 6.25 BTC

Bitcoin mining profits have been rock bottom in 2020. For much of the year, the cryptocurrency has been less profitable to mine than ever. And that's because Bitcoin's collective hashrate – or how much computing power is pulsing through the network – has surged to consecutive all-time highs this year.
As of publication, the Bitcoin hashrate has not quite reached its all-time high from March 2020. ... A high hashrate means that it's more difficult to make a profit mining Bitcoin. The higher the hashrate the more miners there are (or fewer but more efficient miners) which means you'll earn less,
Bitcoin mining can be done by a computer novice—requiring basic software and specialized hardware. The software required to mine is straightforward to use and open source—meaning free to download and run

Musk also expressed his support for bitcoin during the conversation, "I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin. I think bitcoin is really on the verge of getting broad acceptance by conventional finance people," he said.

You can easily trade bitcoin for cash or assets like gold instantly with incredibly low fees. The high liquidity associated with bitcoin makes it a great investment vessel if you're looking for short-term profit. Digital currencies may also be a long-term investment due to their high market demand.

The Value of Bitcoin

While it may be difficult, theoretically, one bitcoin can eventually make you a Millionaire. The value of bitcoins changes regularly, sometimes quickly. So if you buy or mine $10 in bitcoins, then trade them for $1000 because the value increased, you will have made $990.

Cryptocurrencies Are Anonymous

According to Bill Gates, Cryptocurrencies are the anonymous form of currencies. He also said that the chances of tax evasion, money laundering, terrorist funding could be increased due to the maximum usage of the Cryptocurrency.

Buffett believes that Bitcoin has no underlying value. As a value investor, Buffett invests in companies that are undervalued, produce stable and recurring cash flow and have the ability to increase in book value. To Buffett, Bitcoin doesn't produce earnings or dividends.