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A comment on Tesla buys $1.5B in Bitcoin, may accept it as payment in the future. Parent comment

Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by SpicyLemonZest on Monday February 08, 2021 @09:07AM (#26064601)
That's not really what "speculative" means in this context. Fiat currency isn't speculative because companies hold it for the purpose of using it. No matter what dollars are based on, Tesla has to hold some in order to pay the bills. "Speculative" means that Tesla has no current plans to actually use their Bitcoin holdings; the only purpose of buying them was to bet that they'll go up.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by johnyzee on Monday February 08, 2021 @09:44AM (#26065106)
> the only purpose of buying them was to bet that they'll go up.

Which seems a good bet, when the government is increasing the fiat money supply by 40% per year [1].

[1] https://seekingalpha.com/article/4392716-in-october-money-su...

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by SpicyLemonZest on Monday February 08, 2021 @10:03AM (#26065383)
Evidence from March strongly suggests that Bitcoin isn't actually uncorrelated with other financial assets. So if Tesla's concerned about a large decrease in the value of a dollar, there's not much reason to believe bitcoin will protect them from this, at least not any more than a $1.5B pile of steel would.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by robjan on Monday February 08, 2021 @09:56AM (#26065288)
You could use that same argument for anything you can buy with dollars, including the metal used to mint them.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by johnyzee on Monday February 08, 2021 @03:52PM (#26069945)
Yes? The point is that there is nothing strange about Tesla putting some of their cash reserves into assets that retain their value better ("speculating" as the GP put it).
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