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Tesla has made 600 million dollars from bitcoin. Who's rubbing the heat with who?

via:博客园     time:2021/2/23 13:14:47     readed:52

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By Yang Haoran

Source: zinc scale (ID: znkedu)

Tesla and bitcoin may be the same products

Nowadays, bitcoin has become the favorite of the whole financial circle, and everyone has begun to discuss decentralized finance, placing the dream of realizing wealth freedom on cryptocurrency. Many enterprises and investment institutions have changed their attitude and started to set foot in the cryptocurrency market, which has added fuel to the popularity of cryptocurrency.

In early February 2021, Tesla submitted a document to the US Securities and Exchange Commission (SEC), saying that the company purchased $1.5 billion worth of bitcoin to maintain liquidity of working capital and diversification of investment, and that its products may support bitcoin as a payment method in the future.

As soon as the news came out, the whole coin circle was detonated instantly. On that day, the price of bitcoin rose by more than 12%, and the share price of Tesla also rose by more than 2% in pre market trading.

And this seems to be just the beginning of the carnival.

According to media estimates, according to the current growth of bitcoin, Tesla may have made a profit of more than US $600 million in the short period of one month when it added bitcoin. According to the 2020 annual financial report released by Tesla on January 28, Tesla's net profit last year was only US $721 million. In other words, through bitcoin, Tesla has almost achieved the profit of the past year in less than a month.

Crazy bitcoin, the bubble of technology Utopia

Technology Utopia refers to the unconditional optimistic expectation for the development of technology, which believes that the development of technology can solve all social problems and eventually bring mankind into a highly civilized Utopia.

The birth of bitcoin is full of the color of technical Utopia.

As a product of blockchain technology, bitcoin represents a more avant-garde financial system.

Generally speaking, at present, banks and other financial institutions record the account balance information of a large number of users, and these institutions are centralized. If one day these institutions close down, or hackers hack into the servers of these institutions, then the user's account balance information will face the risk of loss or modification, which is the trust crisis faced by the centralized trading system.

在去中心化的系统中,每一个节点都是中心

In a decentralized system, every node is the center

There are many reasons why cryptocurrency led by bitcoin has not successfully established an independent financial system. The most prominent ones are as follows:

1、 Lack of practical value.

Different from precious metals with industrial value, the essence of cryptocurrency is a piece of data for bookkeeping, which has no practical value. In addition, bitcoin has a relatively short history and lacks credit endorsement. More users prefer to treat bitcoin as an investment product rather than a currency.

2、 Makers can control the price of cryptocurrency.

3、 The value fluctuates greatly.

In recent years, the value of bitcoin has fluctuated more and more, which has surpassed futures and gold and is difficult to be used as currency. At the same time, the fluctuating price of bitcoin also indirectly leads to higher and higher settlement fees of the third-party trading platform.

4、 Natural deflation.

The decentralized trading system emphasizes fairness and no need for trust. Ironically, the institutions and enterprises that control the market by holding a large number of chips and the future vision they promise to retail investors are supporting bitcoin's boom. Once capital loses interest in bitcoin, how many followers can bitcoin leave behind?

Tesla and bitcoin may be the same products

The debate about the future of bitcoin has never stopped. However, there is also a consensus in the dispute: blockchain is indeed a disruptive technology, which is of great significance to human society.

Recently, musk has made almost three sentences about cryptocurrency on social media. As soon as his forefoot helped dogcoin build momentum, his hindfoot changed his twitter avatar into an anime girl backed by bitcoin symbol, and widely discussed topics related to bitcoin with netizens, just like a KOL of Tianjiang coin circle.

However, musk is still an engineer in essence. Although bitcoin is based on blockchain technology, it is ultimately a financial product. I am afraid it is difficult to say how much of Musk's understanding and understanding of bitcoin is worth.

However, whether musk really understands bitcoin or not, he has a reason to use bitcoin.

Moreover, compared with Tesla's products, the labels displayed by musk and his enterprises are really respected and believed by their fans.

马斯克推崇比特币

Musk advocates bitcoin

And from the side to confirm the similarities between the two, there are their similar audience.

This data does not mean that the users of Tesla and bitcoin are the same group, but it shows that the investors of the two assets are similar. Most optimists of Tesla and bitcoin, born after the millennium, share the same technological Utopian values. In addition to believing that technology can solve many social problems, they believe that the development of new energy and cryptocurrency can help mankind build a sustainable future.

Therefore, from the emotional point of view, it is reasonable for musk to platform bitcoin for his followers.

Multiple platform cryptocurrency, is it a signal of personal exit?

Bitcoin continued to soar as institutions and big men from all walks of life continued to leave the platform. It successfully broke $57000 on the evening of February 20 this year, and its market value successfully exceeded $100 billion.

比特币分布情况。数据来源:BitInfoCharts

Bitcoin distribution. Data source: bitinfocharts

In this context, many financial scholars are pessimistic about the future of bitcoin, believing that bitcoin is a fraud, and the problem of centralization will eventually bury it in the riverbed of history.

On this issue, some Twitter users suggested to musk that a new currency should be issued, named after musk, and the target should be small and medium-sized households of dog coin, so as to avoid the giant whale players.

There is no doubt that if musk issues its own cryptocurrency, it will be equivalent to endorsing it with its own reputation and Tesla's share price. Naturally, it will attract more young investors than other popular cryptocurrencies on the market. Musk's payment background from Paypal and excellent financial team make it possible for musk to issue cryptocurrency.

Of course, the ability to issue doesn't mean that musk will definitely go through this muddy water. After all, if something goes wrong with bitcoin, musk can choose to cut it. Anyway, the $1.5 billion invested by Tesla in bitcoin is not worth mentioning compared with Musk's personal assets. But if musk issues its own encrypted currency, it will be linked to Tesla's stock price and his personal reputation. Once the bubble burst in the encrypted money market, it will have a huge impact on musk and Tesla.

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