Reshab AgarwalAfter Tesla has invested $1.5 billion in Bitcoin, many other big companies are also considering it as a viable option. One of those companies is Twitter; the company said they are thinking about investing in Bitcoin bit haven’t come to a conclusion yet. In the last one month, Tesla has earned more because of its investment in Bitcoin than by selling cars in the last quarter. And so it is obvious that the investment idea seems to be very attractive.
Will Twitter buy Bitcoin?
I think, yes! Maybe they will give it some more thought, but like Tesla, Twitter will also invest in Bitcoin due to a simple factor that its the future. And I think almost everyone knows that now. As of now, the company has not made any changes to its balance sheet. Twitter is also planning to pay its employees and make other transactions in Bitcoins if they ask for that. Twitter might either convert Dollars to Bitcoin to make such transactions or even better have Bitcoins on their balance sheet for direct payments.
Its quite evident that twitter’s decision to invest in Bitcoin at least the fact they are considering it, is because of Tesla. Many reports have suggested that the growth of the cryptocurrency will be huge just because of this one huge move. With the kind of influence and money, Elon Musk has, it is obvious that he has the ability to take Bitcoin mainstream. If Twitter overcomes its fears and invests in the currency, other companies will also join the path. Many analysts say that in order to beat inflation, having a 5-10% Bitcoin in ones’ portfolio is very important.
Many companies still aren’t ready for this!
In the earning call of General Motors, the CEO of the company said that accepting Bitcoin as a payment method is something they are evaluating. But they have no interest in investing in the cryptocurrency. I don’t know what makes companies so negligent to the fact that Bitcoin is the future. As a hedge to inflationary currencies like Dollar, it is something that can preserve the value of money. If your money is sitting in a bank with an interest rate of 4%, it is still losing its value year after year. This is because the inflation rate is around 7%. But investing in Bitcoin can help prevent that and in fact, grow the value of currency drastically.
Do you think if Twitter buys Bitcoin, Facebook, Apple and other big companies will also follow suit? Or Is there a long way to go for everyone to accept the currency? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.