Blockchain and Cryptocurrency: People, Culture and Tech
Bulls were already confident prior to Monday’s news, with Bitcoin passing $40,000 over the weekend. Elon Musk’s company then set the market alight with its filing with U.S. regulators and Bitcoin subsequently hit new record levels of $48,200.
With this action, Miller just put even more money into an asset that he has recommended for many years. According to a March 2014 Bloomberg report, he has owned Bitcoin as part of his personal investments for nearly seven years, linkening it to “making a venture bet.”
In a filing with the U.S. Securities and Exchange Commission, the electric vehicle manufacturer also confirmed that it plans to accept BTC as a payment method soon. However, it’s unclear whether or not such payments would be converted into cash immediately afterwards.
After a promising week’s trading, BTC/USD rose above the upper limit of its $10,000 trading corridor on Saturday before correcting, with $40,000 support still out of reach. A sudden move from Tesla then changed the atmosphere entirely. What’s next?
