Elon Musk broke the internet by accepting bitcoin and investing about 1.5 billion in bitcoin. Now let me tell you first what bitcoin is?
What is bitcoin?
Bitcoin is a cryptocurrency that is mined in mining machinery that utilizes high electricity. When a system successfully processes a block, it is added to a blockchain, and bitcoin is added to the miner’s wallet. In the beginning laptops and graphic cards were used for the mining process, but now high-cost machinery is utilized for this purpose. Bitcoin is decentralized, which means any government or person does not control that transaction. During each transaction, info is transferred by blockchain to the processed computer in the form of a ledger.
Now you all of you got little know-how about bitcoin. It’s time to discuss the latest news that is; Tesla invested 1.5 billion in bitcoin.
A tweet confirms this news by Tesla Inc in which they confirmed the investment of 1.5 billion in bitcoin and will also accept the payments through bitcoin.
Why tesla invested in Cryptocurrency?
Tesla last month updated its investment policy to maximize and diversify returns on sales. So they will accept the payments through bitcoin and gold trading as well. Elon musk used #bitcoin in his Twitter bio that raises Cryptocurrency’s worth to 20 per cent. At social medial chat site, he announced that ” I do at this point think bitcoin is a good thing and I am a supporter of bitcoin.” In recent weeks Elon Musk has been tweeting positive remarks on bitcoin trading that also influenced people to buy more bitcoin.
Any other organizations investing in Bitcoin?
Now the question is, are there more companies that invested in Cryptocurrency? So the answer is yes. There are companies like Microstrategy, Square Inc that are also having 71,079 and 4709 bitcoins respectively.
Companies accepting bitcoin as a payment
AT&T is the first company to accept payments through Cryptocurrency. Microsoft has also accepted bitcoin as a payment method. Subway and Pizza Hut also allowed charges through bitcoin at some US and Venezuela branches. Real Estate Burnside Heights