This doesn't bring new money into Bitcoin.
I believe it does, but I am not foolish in thinking people will run out to buy Bitcoin to buy a Tesla. But what if Apple follows suit? What about Google? What about any other rich person with just a 7-8 digit bank account? This is a revolution, this is change. So, while I don't think average Joe is going to buy Bitcoin to buy a Tesla, maybe someone else may start using Bitcoin or better yet buy a shit ton for their balance sheet.
He's simply tapping into a market. No different than shipping goods to another country and accepting their currency.
I disagree, no one has trust issues with another countries currency (well maybe some), but many do with Bitcoin. This makes people comfortable. It makes people think, should I do the same?
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Always plenty of ifs, ands, and buts. 100% with you when it comes to improving the image of crypto. 100% agree the 'monkey see, monkey do' effect will come into play. If Elon jumps in the water and doesn't break his neck, everyone else found a new cliff jumping location. If the water's warm, even better.
He also said he's not planning to sell the Bitcoin accumulated from Tesla purchases, correct? This is the funny part about geniuses. He did not say he won't sell the Bitcoin he bought before.
evil laughLOL!He said he won't convert it to Fiat. Which I wouldn't say is a contract he will never sell it, just he won't systematically sell it as he gets it. But I suspect he is accumulating for the revolution.
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I'm 100% sure he'll act in a way that doesn't make it so he screws himself.