Bitcoin Surges Again... Market Cap Surpasses $1 Trillion
Musk Claims Bitcoin Is Better Than Holding Cash
[Asia Economy New York=Correspondent Baek Jong-min] Elon Musk, CEO of Tesla, called those who do not invest in Bitcoin "fools." On this day, Bitcoin reached $56,000, surpassing a market capitalization of $1 trillion.
On the 19th, Musk stated on his Twitter, "Only fools don't look elsewhere (such as Bitcoin) when the real interest rate of fiat currency is negative."
This comment served to justify Tesla's purchase of $1.5 billion worth of Bitcoin.
He claimed that Tesla's Bitcoin investment did not directly reflect his personal opinion but argued, "Holding Bitcoin is a less stupid move than holding cash, and Bitcoin is almost no different from currency."
He also mentioned that Tesla is a company included in the S&P 500, a representative U.S. stock index, emphasizing that Tesla's Bitcoin purchase is a "sufficiently exciting" investment.
On the 8th, Tesla disclosed its purchase of $1.5 billion worth of Bitcoin on the U.S. stock market and announced that it would allow Bitcoin as a payment method for electric vehicle purchases.
Meanwhile, on this day, Bitcoin surpassed a market capitalization of $1 trillion for the first time ever. In the U.S. stock market, only companies like Apple, Google, Microsoft, and Amazon have exceeded a market capitalization of $1 trillion.
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