“In retrospect, it was inevitable.” – Tesla announces that it added Bitcoin to the company reserve treasury, pushing Bitcoin‘s price to a new all-time high.
With all due respect for all the companies that have announced similar moves, Tesla is by far the most important. It’s the 7th largest public company in the US and a worldwide recognized brand. It’s very unlikely that such a large company didn’t go through serious due diligence before taking this step. What is interesting to notice is that if you are reading this, chances are that you bought your first Bitcoin at a lower price than Tesla. Kudos to you! Cryptocurrencies are developing as a breakthrough technology and as the biggest global wealth distribution in decades. Companies and institutions have been sceptical about cryptocurrencies, or they just didn’t have the tools to gain exposure to digital assets. Looking at Bitcoin‘s chart, the price is at an all-time high, just like the confidence that cryptocurrencies are here to stay. During January, Bitcoin‘s price traded sideways which offered the perfect context for another leg of Altseason and at the same time built a solid support area between $29,000 and $40,000. Keep these levels in mind because no matter how high is the confidence in the market, risk-management should always come first! Find out how you can invest today!