What’s Bitcoin, stay Bitcoin (2/5)

This tweet is an important one. Elon mentions that Bitcoin will be retained as Bitcoin and not converted to fiat immediately.

This is important, because many companies have announced in the past that they are accepting Bitcoin for their goods and service, only to immediately cash the Bitcoin out for Fiat. It gives off the feeling of the business just doing it as a gimmick and the company not being truly passionate about the space.

Tesla keeping the Bitcoin on their balance sheet, shows that they believe in the technology and more realistically that the price will appreciate, growing their balance sheet.

It was an important clarification made by Tesla’s top dog, but he didn’t stop there.