Monday, October 25

Elon Musk’s company Tesla Now Sells with Bitcoin

Tesla CEO Elon Musk announced that Tesla branded vehicles can be purchased with Bitcoin in the US. Musk stated that in other countries, this practice will begin later.

Tesla CEO Elon Musk announced that Tesla branded vehicles can be purchased using Bitcoin.

In a statement on Twitter, Musk said, “You can now buy Tesla with Bitcoin. “Bitcoin used in Tesla payments will not be converted into another currency, it will be used as Bitcoin,” he said.

Last month, Tesla announced that it had received $ 1.5 billion worth of bitcoins and would soon accept payments in bitcoins. Following this announcement, Bitcoin had risen sharply.

Elon Musks company Tesla Now Sells with Bitcoin 1

Elon Musk announces: Tesla can now be bought with Bitcoin

Elon Musk said that Tesla is running its own Bitcoin node to the node and that the transactions will be carried out on an open source software.

The Bitcoin application, which is currently limited to the USA, is planned to expand to other countries in the future.

Elon Musk: Genius, bubble or manipulator?

There is an Elon Musk craze in the world. Tesla, of which he is the CEO, has reached the position of the automobile manufacturer with the highest market value in the world. Tesla himself topped the list of the richest people in the world, thanks to the incredible rise in his shares.

His fortune was $ 27 billion at the beginning of 2020, when the world turned upside down due to the pandemic. It exceeded $ 170 billion by the end of the year and $ 200 billion after a short time.

The market value of Tesla, which was $ 1.7 billion when it went public in June 2010, is now $ 772 billion. The market values ​​of automakers with production capacity and sales numbers far above Tesla are far below Tesla. Volkswagen has a market value of $ 105 billion, Ford $ 46 billion, Toyota $ 265 billion.

His posts on social media cause very sharp fluctuations in the values ​​of both other companies and cryptocurrencies of Tesla, in which Tesla is the CEO and has a share of more than 20 percent.

So much so that its 46.5 million followers on Twitter can misunderstand their messages and blow the stock values ​​of unrelated companies.

Recently, cryptocurrencies such as Bitcoin and Dogecoin have made great gains thanks to Musk’s tweets.

There are also those who claim to be a genius, and those who claim that the share value of the company they own and therefore their wealth is a big bubble… There are also more people who claim that social media posts are manipulation.

Tesla, whose shares are traded on the Nasdaq stock exchange in the US, has a different picture in terms of profitability, although its market value is rapidly increasing.

The company, which always declared a loss after the public offering, announced its first net profit in 2020 on an annual basis.

Öztürk said, “Especially after June 2019, with the expectations that it will announce profit for the first time and the evaluations that Tesla will be the pioneer of this business in the production of electric motors in the world, the share price started to rise excessively,” said Öztürk, points out that it is on.

“Basically, the value of a company is the discounted value of free cash flows it will create in the future. In the future, other automobile manufacturers will also produce electric vehicles, but investors’ expectations about Tesla are so great that share prices can rise this much, ”Öztürk says, saying the company is over-priced.

Öztürk reminds that he was fined and sued by the SEC (US Capital Markets Board) for misleading investors due to Musk’s tweets in the past.

“It is clear that Elon Musk’s actions are not very ethical, but what kind of crime is there legally, the SEC will investigate them, decide whether there is a crime and manipulation and file a lawsuit accordingly,” said Öztürk, saying, “However, he is active in the real sector, produces electric vehicles and It is also interesting that a company owner who wants to mark his mark with the technological production it will do is involved in such business ”.