Hufu exchange deeply analyzes Tesla’s entry into bitcoin

Introduction: according to first financial news, on February 9, 2021, the SEC documents disclosed that Tesla invested $1.5 billion worth of bitcoin in order to maximize and diversify the company’s cash return. In addition to buying bitcoin, the company will soon support the virtual currency to buy electric vehicles. Tesla regards bitcoin as a long-term intangible asset. After the news was released that day, bitcoin soared all the way, breaking through a high of $48000. The news of Tesla CEO Elon Musk’s $1.5 billion move to bitcoin was a bit of a surprise, but by no means a whim. Elon Musk was not a very early bitcoin investor in the strict sense, but he was a very innovative person. He likes to try to make revolutionary innovations in traditional industries, including the image of Tesla in people’s minds, and it is not only a traditional automobile manufacturing company, but also a glimpse from the “rocket maker Tesla” that people like to talk about. It seems that Elon Musk has made such a decision for a long time. His recognition and support for digital assets are not only reflected in bitcoin, but also the dog coin which has soared a while ago. He has repeatedly mentioned the digital asset Dog Coin in his twitter posts. His supporters even speculated from the cracked transaction information and the time of his twitter posting that an anonymous address with 36 billion dog coins belonged to him. Traditional institutions have been watching bitcoin, the world’s largest crypto asset by market value, for a long time. MassMutual, one of the top five life insurance companies in the United States, purchased a value of 1 for its general insurance account through New York digital investment group (nydig) in December 2020 After Tesla, MasterCard and Bank of New York Mellon have become the latest supporters of bitcoin. Financial analysts on Wall Street once said that this bull market can be said to be “institutional boom”. With the admission of gray fund, Tesla and other traditional institutions, even JPMorgan Chase has to say that it will consider adding bitcoin services to its business. More and more institutions are adding digital assets to their asset allocation. With the attention of traditional institutions and the reports of mainstream media in various countries, the digital asset investment boom led by bitcoin is sweeping the world. For individual investors, choosing a safe, stable and convenient trading platform has become the primary key. As an old digital asset trading platform, Hufu exchange has built a one-stop blockchain asset trading platform after nearly three years of precipitation. It provides hundreds of digital asset trading and investment services for millions of users from all over the world. It covers currency trading, contract trading, OTC trading, financial lending, Hufu equity, Hufu mining, Hufu trusteeship and other comprehensive business services. In the future, Hufu exchange will continue to focus on innovation to bring users a more comprehensive and rich trading experience.

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