Tesla Purchases $1.5 Billion Worth of Bitcoin... "Not Just a Simple Investment"
Platform Company Expansion... Potential to Designate Bitcoin as Core of Financial System
[Asia Economy Reporter Minwoo Lee] There is an analysis that the leading cryptocurrency Bitcoin could become the core payment system within the platform envisioned by the American company Tesla.
On the 11th, SK Securities predicted that such a possibility arises when Tesla and Bitcoin are combined. SK Securities researcher Daehun Han stated, "Elon Musk, Tesla's CEO, has already declared his entry into the platform business not only through Tesla but also via Starlink (satellite broadband internet service). As Tesla shows interest and invests in Bitcoin, it is highly likely that Bitcoin and other digital assets will occupy the central role in the payment system connecting the platform."
Earlier, Tesla disclosed in a report filed with the U.S. Securities and Exchange Commission (SEC) on the 8th (local time) that it purchased Bitcoin worth $1.5 billion (approximately 1.66 trillion KRW) last month to manage its cash reserves efficiently. This investment represents 7.7% of its cash holdings. Following major companies such as Square and PayPal, Tesla has also allowed Bitcoin payments.
Accordingly, it is expected that digital currency will handle the financial sector related to payments in Tesla's business plan connecting the massive data and communication networks generated by its autonomous electric vehicles. Tesla also indicated the possibility of additional investments in digital assets like Bitcoin, which aligns with this context.
There is also speculation that Tesla could serve as a node for Bitcoin. A node refers to a type of data point used in large networks. In a blockchain system where records are shared among participants without a centralized server, Tesla could take on the role of a major participant node. The researcher explained, "A video showing a Bitcoin node operating on Tesla's onboard computer has already been released, increasing the likelihood of concretization. This is because data obtained through vehicle operation can be verified to create blocks, and verification is possible through node operation."
Given the high level of investor interest in the meeting of Tesla and Bitcoin, there is an analysis that a new ecosystem beyond simple investment will be formed. The researcher emphasized, "Tesla did not purchase Bitcoin solely for investment purposes but likely considered using Bitcoin in its platform ecosystem's financial services. Following Tesla, there is speculation that Apple may develop cryptocurrency exchanges and electronic wallets, signaling that remarkable changes continue to emerge."
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