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Tesla's Bitcoin Selling Shows How BTC Is More Than Digital Gold
According to Elon himself, it was all about demonstrating bitcoin’s liquidity.
Listen or watch all the new CoinDesk podcast episodes wherever you want.
ABOUT
According to Elon himself, it was all about demonstrating bitcoin’s liquidity.
This episode is sponsored by Nexo.io and NEAR.org.
Yesterday Bitcoin Twitter reacted in horror upon discovering that Tesla had sold 10% of its bitcoin. Elon has paper hands! Institutions will abandon us! The horror and scorn ran far and wide.
On today’s episode, NLW argues that:
- The sales proved to Tesla that bitcoin has deep liquidity
- That the combination of store of value plus upside plus liquidity makes bitcoin uniquely valuable as a treasury asset
See also: Elon Musk’s Tesla Sold Bitcoin in Q1 for Proceeds of $272M
Image credit: Britta Pedersen-Pool/Getty Images
HOST
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
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