Bitcoin as collateral ── Read the news of Tesla, Chair Powell, Genesis
Tesla’s first-quarter earnings report revealed that the company sold $ 272 million worth of Bitcoin in the same period. It was to test the liquidity of the market. In addition, quarterly profits added $ 101 million.
Second, crypto asset lender Genesis Trading also announced its first quarter financial results, revealing that its loan balance exceeded $ 9 billion.
Third, Chair Powell adhered to an average inflation outlook of 2% over the next few years on macroeconomic conditions.
You will have to think about three things. One is the increasing use of Bitcoin as a reserve asset in corporate balance sheets. The second reason is that companies are currently using Bitcoin. And third, companies are likely to want it in the future.