Reportedly, Elon Musk regrets investing 1.5 billion in bitcoin. - - Financial Market Media No. 1 in the World Reportedly, Elon Musk regrets investing 1.5 billion in bitcoin. Reportedly, Elon Musk regrets investing 1.5 billion in bitcoin.

February 22, 2021

Reportedly, Elon Musk regrets investing 1.5 billion in bitcoin.

 Bitcoin keeps rising, in particular, thanks to the comments of the CEO of Tesla and Space X, Elon Musk. Not so long ago, market participants and crypto enthusiasts were surprised with Musk's decision to invest $1.5 in billion. However, judging by the comments given by Elon Musk this weekend, for a billionaire, investing in bitcoin was just a kind of entertainment. On social networks, Musk said that investing in bitcoin for a company from the S&P 500 index is complete recklessness. Tesla CEO added that that the company's investment in bitcoin does not reflect its real attitude to cryptocurrencies. According to Musk, Tesla's bitcoin purchase "is not directly reflective" of his opinion. He also said owning bitcoin is "simply a less dumb form of liquidity than cash" and is "adventurous enough for an S&P 500 company." "However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. "Bitcoin is almost as bs as fiat money. The key word is 'almost'," he pinpointed. The Tesla CEO also said that he is not an investor. So, he does not even own any publicly traded stock aside from Tesla. "To be clear, I am not an investor, I am an engineer," he said. What does Musk mean by calling himself engineer is not yet clear. Yet, it is well known that Elon Musk does not just throw out random comments. Apparently, his decision to invest in cryptocurrency is something more than just a fad.

According to experts, large investors and companies are just beginning to enter the digital segment. For most major players, it is still unacceptable to keep money in cryptocurrencies or invest in them. However, more and more companies are announcing that they are beginning to integrate cryptocurrencies into their operations. Thus, the current bitcoin price of $58,000 per coin is only the initial price for large investors. Roughly speaking, only now large companies and banks are really interested in bitcoin and its future prospects. However, further growth will depend entirely on whether the major players consider bitcoin to be an attractive investment vehicle after all? However, the question is: will further rally of bitcoin depend entirely on whether the major players still consider bitcoin an attractive investment? The example of Tesla and Microstrategy is quite vivid but they can always be called unnecessarily risky investments. Judging by Musk's comments, he does not worry at all about his decision to invest $1.5 billion in bitcoin. He will not be very upset if something goes wrong, taking into account his fortune at about $200 billion. For less adventurous companies, it is obvious that bitcoin cannot be used as reserve currency or a hedge, it is only a tool for a short-term investment. Thus, the big question is whether other large companies will follow the example of Tesla, which will undoubtedly send bitcoin to new record highs.