To buy or not to buy your next Tesla with Bitcoin ?
The big News
A few days ago a significant headline hit the news that it would be possible to pay for Tesla with Bitcoin(s).
Indeed a great news for those sitting on stashes of bitcoins and wondering what to do with their new found wealth!!!
However it also has implications for the common folks in the crypto space who may not have that kind of money but are directly or indirectly affected by such a news.
The news also means a push to make Bitcoin even more mainstream if it is not already.
Chances are if you you throw a stone out of the window it would hit a random person who has heard about Bitcoin.
The odd exception could be if you are living under a rock and know nothing about Bitcoin and in such a case you would not have heard about Tesla or Elon musk either.
This news is positive
Bitcoin getting positive coverage is good news as it means the positive vibes permeate to the entire crypto space.
This statement holds grounds as far as the Bitcoin dominance is maintained at a decent percent like it currently is.
BTC dominance at the time of writing this post stands at 56.8% and ETH dominance is at 12.3%
Even though this displays a monopoly of the crypto space by BTC and ETH however this is much better scenario as compared to a 60% plus dominance which was maintained by BTC for a very long time.
This translates to giving the altcoin space a healthy space to grow and expand.
The value of Bitcoin Vs Tesla over time
Bitcoin has a limited supply of 21 million however the supply of Tesla is unlimited. Mr Elon musk can keep getting them made at his factories 24X7.
Secondly you hold your Bitcoins in your wallet and it does not depreciate. Chances are it would keep appreciating over time till it reach some kind of a price stabilization.
However the moment you step out of the car showroom with your new car it begins to depreciate and this would hold even in case of Tesla.
Having said that there are few things that compare to owning a tech marble like Tesla and the envious glances that you get when you step out of your brand new Tesla. This sure does make a sure shot case to consider buying a Tesla.
However this discussion is not about to buy or not to buy a Tesla rather it is about trading your Bitcoins for a Tesla.
This is just an observation and in no way written to discourage you to trade your Bitcoins for a car.
It only points at options. Perhaps use some bitcoin power to earn more bitcoins to create a drip of income and use a few drops from this drip to get your Tesla,a house,food or whatever you need or wish to buy.
After all the possibility and use case has been created by Mr Elon Musk and we should all welcome and cheer it.
Bitcoin's changing perception
From buying a Pizza for 10,000 BTC to buying the Tesla Bitcoin sure has come a long way or rather the perception of what a Bitcoin is and how people see it and user it.
My Question to the brothers and sisters of our crypto community.
If you had the money to buy a Tesla what would you do?
- Buy it with Bitcoin(s)
- Buy it with Fiat
- Use your Crypto to create a passive income and use it to buy your Tesla, House food , pay for fees etc
- Any other way of funding your needs
Dear community please share your view about this question and how you see crypto fulfilling your dreams, desires and needs.
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