Elon Musk, CEO of SpaceX and Tesla has been contemplating on whether it is possible to buy Bitcoin in larger transactions for Tesla in a way to convert their to USD Dollar Reserves to Bitcoin.
Crypto influencers were attracted by this thought of Elon Musk.
Michael Saylor, Head of Microstrategy, responded to Elon Musk by stating that he is willing to tutor him on how to get Bitcoin on to the Tesla Balance Sheet.
Commenting, Sydney Ifergan, the crypto expert opined: “Major Bitcoin critics are changing their view on the coin. Wondering if institutions jump in to the cryptocurrency space on whether there will be any room for retail investors.”
When the safety of investing in Bitcoin is established, institutions are going to flock in and power play is going to dawn in the cryptocurrency space. There will be only negligible numbers in retailors who will be able to take advantage of the same.
While the idea of bitcoin was proposed to ensure decentralized peer to peer transaction, if the concept will stand battle tested and valid, it will very soon become the game of the big players.
And, now the regulators are getting their feet wet in the cryptocurrency space. Regulators might probably influence the ranking ladder very soon. Common sense should dictate that regulators would not spare anything of value. Lot of artificial rankings might end or crypto projects will find a new way to refresh their performance and improve on their user base.
Bitcoin (BTC) Chain Reaction
Michael Saylor recently tweeted: “Money is flowing out of conventional assets into Bitcoin due to the escalating risks of global currency devaluation, technology disruption, social dislocation & political uncertainty. This is not a “rally” or “bubble” – it’s a chain reaction spreading like a fire in cyberspace.”
Crypto currencies came in to ensure people’s freedom away from the government corrupt money system, currencies they inflate which destroys purchasing power. Some were also saying that only a fools will keep his life savings now in fiat currencies.
Whether with or without resistance Investors taking to Bitcoin is a sign of acceptance for the whole world of cryptocurrency. While big players taking to BTC is just the start and when institutional players begin to dominate, just like in the regular market retailors will choose to move on to affordable Altcoins and in turn Altcoins will also gain acceptance.
Whether Bitcoin will continue to be the new fire of monetary energy which will be burning everlastingly in cyberspace is something we will know after the regulatory drama.