What Elon Musk Says About Tesla’s Investment in Bitcoin

CNBC blamed Musk for inflating Bitcoin by posting positive messages about it on his Twitter account.

Don’t forget, his primary source of income is still electric vehicles .

While Musk takes most decisions, his decisions need to be approved by the board of directors, shareholders, and his finance team.

So it updated its investment policy to allow them to invest in certain “alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds” and other assets.

On the one hand, the government reduced interest rates to near-zero amid the pandemic, making bonds and other fixed-income securities unattractive.

By keeping money in bonds, you are actually losing value as inflation is rising faster than your money, resulting in negative real interest.

The keyword is “almost.” What does he mean that bitcoin is “almost” similar to fiat money? Well, Bitcoin doesn’t have any intrinsic value.

In an expansionary monetary environment, where currency losses its value, you want to store something scarce.

Bitcoin is limited in number , making it a scarce asset.

Bitcoin is a debatable investment and is currently deriving its value from speculation.

Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.

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It’s extremely validating to see that our noble purpose of shaping member financial fitness, and our humble beginnings of Albertans coming together to innovate and help each other is seen to set us apart amongst other financial institutions.” The ranking is based on results from surveys completed by Forbes’ partner, Statista, which asked customers for their opinions on their banking relationships.

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