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North Central Oregon | Tesla purchased $1.5 billion in Bitcoin last week, reportedly 7.5% of their cash reserves. Have seen other institutional purchases reported over the last week of over $1 Billion dollars the latest coming today when Microstrategy a company that currently owns 72,000 bitcoin announced they were purchasing another $600 million today. The industry analyst that reported Tesla's intention to put a significant portion of their cash reserves into Bitcoin a month ahead of last week's purchase reported last week that Apple is rumored to be looking at putting up to 5 billion into Bitcoin. If that happens I really can't see Bitcoin having the large swings again as it has in the past. No way of knowing for sure but I would think all the large scale institutional investing by Banks and Large Tech companies would lead to more stability. Since Tesla's purchase it has not dropped below the level at which they purchased. | |
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50k bit coin would you?
