Tesla's $1.5B Bitcoin Bet

Happy Moonday, Blockfolians

The Lede

Well, there it is. After much speculation, and a little more than a week after Elon changed his Twitter profile to “Bitcoin” and tweeted “in retrospect, it was inevitable,” the inevitability has been confirmed.

According to SEC filings, Tesla bought $1.5B in bitcoin in January. They also announced that they would likely soon be accepting bitcoin as payment for their vehicles.

Of course, the price of bitcoin shot up immediately. Indeed, it’s hard not to feel like this is another stage of this bull market. Regardless of what one thinks of Tesla and its unique leader, there is no denying the numbers. He is the world’s richest man, and the world’s richest man is a bitcoiner now.

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Highly Relevant Reading


Community Commentary

We have no one to thank as much as this man for Elon joining the space
Repeat after us: it’s still early.

A Really Big Number We Should Be Paying Attention To

$50,000,000

That’s the size of Castle Island Ventures new fund - congrats guys!


Final Thought

Let’s do something big together.

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1) The FTX Foundation:
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