Buy 7.7% of Tesla’s assets… With innovation symbolism, the ripple effect seems to be great
At some point, “I am concerned about the increased uncertainty”… Analysis of “Plans to Enter Financial Services”
The international price of the cryptocurrency Bitcoin is about to surpass $50,000 for the first time ever. The domestic price also exceeded 50 million won for the first time.
It is interpreted as reflecting the expectation that the settlement of the institutional rights of bitcoin will be accelerated, saying that Tesla, an electric car company in the US, has made large-scale investments and will also allow payment for vehicle purchases. However, concerns over excessive volatility and bubbles remain high.
According to CoinDesk, a global virtual asset information site on the 9th, as of 4 pm on the day, bitcoin was traded for $47,956.12. It has soared 22.27% from the previous day, breaking the record high every day. In domestic cryptocurrency exchanges such as Bithumb and Upbit, Bitcoin rose more than 10%, exceeding 50 million won for the first time in history. The 24-hour transaction value of Bitcoin in Upbit reached 1.5 trillion won as of 4:30 pm.
Tesla announced on the 8th (local time) that it had purchased $1.5 billion (about 1.7 trillion won) worth of Bitcoin. This is 7.7% of Tesla’s holdings. Tesla added, “It is aimed at diversifying cash returns and maximizing asset flexibility. We expect to start accepting Bitcoin as a payment method for our products in the near future.” Tesla founder Elon Musk is considered a leading cryptocurrency advocate. Last month, I changed my Twitter account’s self-introduction to’#bitcoin’ and wrote, “Looking back, that (Bitcoin) was inevitable.” A recent social network service (SNS) publicly said, “I am a Bitcoin advocate. “Bitcoin is on the verge of being widely accepted by established financial institutions.” Tesla explained the purpose of this investment as diversifying cash returns, but analysts say that it would not have purchased Bitcoin for simple investment purposes. SK Securities researcher Han Dae-hoon said, “As Tesla is expected to leap into a big data platform company using driving data, etc., it is expected that Bitcoin will be used in the financial service field.”
After the online payment company PayPal started paying with bitcoin, Tesla, which is evaluated as an icon of innovation, is expected to have a significant ripple effect in that it allows bitcoin payments. “Tesla could be a potential’game changer’ for Bitcoin use,” said Dan Ives, an analyst at Wedbush Securities. However, some point out that price volatility is large and that the function as a currency is still insufficient. There are also many concerns that it can be used for money laundering or illegal financing.
Reporter Kim Ja-hyun [email protected]Go to reporter page>
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