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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 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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