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The Breakdown, With NLW

Elon Musk Buys Bitcoin: Everything You Need to Know About Tesla's $1.5B Purchase

The implications of Elon Musk’s purchase on bitcoin’s climate narrative, other Fortune 500 treasury management strategies and more.

February 8, 2021
Listen on:

The implications of Elon Musk’s purchase on bitcoin’s climate narrative, other Fortune 500 treasury management strategies and more.

This episode is sponsored by Nexo.io.

Download this episode

Elon Musk’s Tesla (TSLA) has purchased $1.5 billion in bitcoin as a treasury reserve asset. Additionally, the company will soon be allowing people to pay for Teslas with bitcoin.

In this episode, NLW breaks down:

  • How Elon got to this moment, including his exchanges with MicroStrategy’s (MSTR) Michael Saylor
  • What critics of the Tesla community and the bitcoin community are likely to say
  • How this de-risks bitcoin purchases for other Fortune 500 companies
  • How it relates to Elon’s doge memeing
  • Why this is likely to have a significant impact on bitcoin’s narrative regarding climate change and energy use
  • Why Cathie Wood is laughing all the way to the bank.

See also: Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments

Image credit: Britta Pedersen/Getty Images Entertainment

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