Analysts, bitcoin treasury, cash reserves, companies bitcoin, corporate treasury, Jim Cramer, made money, tesla bitcoin, twitter bitcoin

Following Tesla’s move to invest $1.5 billion in bitcoin, analysts are predicting that a flood of other companies will follow suit. Mad Money’s Jim Cramer thinks that all companies should put bitcoin in their balance sheets, and Twitter reveals that it is already looking into doing that.

Other Companies Will Follow Tesla’s Bitcoin Example, Say Analysts

Following the groundbreaking move by Elon Musk’s Tesla to put $1.5 billion of the company’s cash reserve into bitcoin, many people are expecting other companies to make a similar move.

Mad Money host Jim Cramer applauded Elon Musk and Tesla for doing more with their cash and being at the forefront. He said Tuesday:

Tesla’s bitcoin buy announcement has also inspired retail traders worldwide to buy bitcoin, including in India where local crypto exchanges have been seeing heavy spikes in cash deposits, new registrations, and trading volumes after Tesla’s bitcoin news broke. Global crypto exchanges saw a similar trend, including Coinbase, Binance, and Kraken.

Digitalmint COO Don Wyper pointed out that “Tesla has about $20 billion in cash or cash equivalents on their balance sheet, so the volatility of $1.5b would have less than a 10% effect on the company.â€

Bkcoin Capital co-founder Carlos Betancourt noted that Tesla’s bitcoin purchase “could become the catalyst to get bitcoin’s market cap to $1 trillion,†adding that “A company like Tesla making this move is only going to accelerate further adoption of crypto as an alternative and investable asset class.â€

Lmax Group CEO David Mercer shared that his firm expects “2021 will be a year that many other big names make the official crossover into the space.†He elaborated, “We expect the trickle of institutional investment thus far to become an overwhelming flood in the rest of 2021 and beyond,†stating:

“We think this is just the start to a much wider adoption from household institutional names, finally ready to make the crossover into the crypto space,†commented Lmax Digital’s currency strategist, Joel Kruger. “At the same time, we would caution against the expectation for any meaningful continuation in bitcoin’s uptrend just yet.â€

Etoro analyst Simon Peters described: “We expect to see others follow in Tesla’s footsteps, with bitcoin payments increasingly making sense for businesses that conduct nearly all their sales online.†Emphasizing that “this has far-reaching implications for companies,†he explained, “If corporates the size of Tesla, valued at nearly $1trn, believe bitcoin can be used in this way, and are willing to back its views with action, then others will undoubtedly start to consider it.†Furthermore, the analyst believes:

Ziglu’s Chief Growth Officer, Yang Li, expects “the borderless nature of bitcoin†to help Tesla “optimize its finances and cash flow,†particularly when entering new markets. In addition, “as world governments continue to aggressively stimulate the economy during this current pandemic there will be inevitably high levels of inflation. Investing into bitcoin will allow Tesla to protect its current holdings from inflation and even potentially experience a windfall if the price of bitcoin continues to increase, as it has done historically.â€

On Wednesday, Twitter CFO Ned Segal revealed on CNBC’s Squawk Box that his company has “done a lot of upfront thinking to consider†how it might pay employees or vendors should they ask to be paid in BTC, and “whether we need to have bitcoin on our balance sheets.†Noting that no decision has been made, he reiterated that this is something Twitter continues “to study and look at.â€

Meanwhile, not everyone is confident that other companies will follow Tesla’s move. JPMorgan analyst Nikolaos Panigirtzoglou, for example, doubts other companies will add BTC to their balance sheets because it “would cause a big increase in the volatility of the overall portfolio.†General Motors CEO Mary Barra said Wednesday that GM has no plans of investing in bitcoin.

Do you think more companies will move cash into bitcoin? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

British Asset Manager Ruffer Bags $1.1 Billion Profit From Bitcoin

British asset management firm Ruffer reportedly said its bitcoin investment has generated about $1.1 billion in profit. The firm says bitcoin has been “a wonderful store of value†and it is still optimistic about the cryptocurrency in the long term. Ruffer Profits $1.1 Billion From Bitcoin Investment London-based asset management firm Ruffer revealed that it […]

Xem chi tiết: British Asset Manager Ruffer Bags $1.1 Billion Profit From Bitcoin

Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028†in a […]

Xem chi tiết: Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Stock Guru Jim Cramer Thinks Crypto Crash Will Benefit Stock Markets

Jim Cramer, otherwise known as the ‘stock guru,’ has weighed in how the latest cryptocurrency market correction can affect the stock markets. Cramer thinks this contingency will benefit stock markets, with some investors taking profit and moving them to less volatile, less transient investments. But some volatile stocks also felt the correction in crypto, now […]

Xem chi tiết: Stock Guru Jim Cramer Thinks Crypto Crash Will Benefit Stock Markets

Stock Guru Jim Cramer Thinks Crypto Crash Will Benefit Stock Markets

Jim Cramer, otherwise known as the ‘stock guru,’ has weighed in how the latest cryptocurrency market correction can affect the stock markets. Cramer thinks this contingency will benefit stock markets, with some investors taking profit and moving them to less volatile, less transient investments. But some volatile stocks also felt the correction in crypto, now […]

Xem chi tiết: Stock Guru Jim Cramer Thinks Crypto Crash Will Benefit Stock Markets

Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

The Brooker Group has reportedly become the first publicly listed company in Thailand to hold bitcoin on its balance sheet. The company has disclosed that it has bought 122.3158 bitcoins worth $6.6 million or 200 million baht. Thai Public Company Invests in Bitcoin The number of public companies investing in bitcoin is growing worldwide. In […]

Xem chi tiết: Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

Bitcoin Markets Blood Red After Tesla Announcement, Crypto Economy Sheds Billions

Digital currency markets have seen better days, as billions of dollars were shaved off the entire crypto-economy after Tesla revealed it would not be accepting bitcoin over environmental concerns. The entire market capitalization of all the crypto assets in existence has dipped under the $2 trillion mark, and most coins are down between 5-30% during […]

Xem chi tiết: Bitcoin Markets Blood Red After Tesla Announcement, Crypto Economy Sheds Billions

Elon Musk Announces Tesla Has Suspended Accepting Bitcoin Citing Environmental Issues

Tesla has suspended accepting bitcoin for vehicle purchases, CEO Elon Musk has announced. The company cited concerns “about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.†Tesla Stops Accepting Bitcoin Tesla CEO Elon Musk announced on Twitter Wednesday that his electric car […]

Xem chi tiết: Elon Musk Announces Tesla Has Suspended Accepting Bitcoin Citing Environmental Issues

Elon Musk Announces Tesla Has Suspended Accepting Bitcoin Citing Environmental Issues

Tesla has suspended accepting bitcoin for vehicle purchases, CEO Elon Musk has announced. The company cited concerns “about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.†Tesla Stops Accepting Bitcoin Tesla CEO Elon Musk announced on Twitter Wednesday that his electric car […]

Xem chi tiết: Elon Musk Announces Tesla Has Suspended Accepting Bitcoin Citing Environmental Issues

Biden Economics: US Jobs Report Lackluster, Unemployment Extensions Hammer Supply Chain, Americans Want More Stimulus

E-Commerce Giant Mercadolibre Buys Bitcoins Worth $7.8 Million for Treasury

Stock Trader Dave Portnoy Dumps All His Dogecoins to Buy Bitcoin

Tesla’s Bitcoin Stash Now Worth $2.5 Billion, SEC Filing Shows

Stock Trader Dave Portnoy Dumps All His Dogecoins to Buy Bitcoin

Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon

TIME Magazine Gets Into Bitcoin: Partners With Grayscale, Will Hold BTC on Balance Sheet

Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTC

Other Articles