The last few months have seen major institutions scoop up Bitcoin (BTC) in droves, raping up demand for the world’s #1 cryptocurrency. In what is turning out to be the cryptocurrency’s biggest Bull Run since 2017, major firms have jointly invested hundreds of millions worth of Bitcoin, stroking further interests from retail investors who are moving in droves trying to get a piece of the leading cryptocurrency. The latest news, and of course the biggest, is reports of Tesla purchasing $1.5 billion worth of Bitcoin, pushing the latter’s price to a new all-time high.
Taking a look at the institutions driving up the meteoric growth of Bitcoin, there is the realization that many of these organizations either buy the crypto on behalf of investors, or as a reserve asset, or both. The trend has seen Bitcoin price 2021 hit a record high over the last few months.
Inflows into the entire cryptocurrency over the last few months has been on a steady rise, with major publicly traded companies like PayPal and Fidelity acknowledging and accepting BTC as a means of payment. Others like Square and MicroStrategy have used their own balance sheets to buy Bitcoin. These companies hold direct control over their Bitcoin funds.
Tesla buying bitcoin
Tesla, the electric vehicle manufacturer, surprised many when they reportedly bought $1.5 billion worth of Bitcoin, joining the ranks of companies holding a large amount of Bitcoin. In a report filed at the US Securities and Exchange Commission (SEC), Tesla has joined the ranks of companies holding Bitcoin worth hundreds of millions. It means that Tesla has invested 7.7% of its $19.384 billion cash holdings into Bitcoin. SEC filing reports is a reflection of an updated investment policy aimed at the electric carmaker diversifying its cash on hand to maximize returns on investments.
Tesla’s latest venture into digital currency investment is their announcement that they will begin accepting Bitcoin as payment for its products soon. The company’s CEO Elon Musk took to Twitter to end months of speculation that Tesla will begin to accept BTC as payment for its products. The news has left questions on whether the company is intending to liquidate all the payments received in BTC or will continue to hold them in the digital currency.
Is it too late to buy Bitcoin?
Bitcoin’s bullish run is likely to continue over the coming months, or even years, as more institutions are beginning to show interest in Bitcoin and cryptocurrency in general. A lot of companies are also coming up to provide Bitcoin trading signals, as more retail investors join the Bitcoin craze in numbers through crypto exchanges. No doubt this is the right time to get into the game and invest in the leading cryptocurrency. With the many top crypto signal providers in the market, anyone can enter crypto trading by buying just a fraction of BTC on the many crypto exchanges. With the current exchanges, almost any person can afford a minor investment in Bitcoin whether as a hobby, fun, or real work. While a lot of traders are using specific crypto trading signals, it all boils down to whether one is a beginner or a professional trader as the signal providers provide different levels of information for investors. For example, some will show you when to go long or short on crypto, thus making work easier for you as a trader. There are a lot of services, groups in Telegram, and sites that provide this information.