Bitcoin is a cryptocurrency that was announced in 2008 and was launched in 2009 by the person named Satoshi Nakamoto. The Identity of this person is still anonymous because, for this reason, the prices of Bitcoins don’t affect the market. The prices of Bitcoin have risen in just a few years; it has started from zero to thousand dollars.
There are many benefits of investing in Bitcoin as it provides us with the privacy of the transaction and protects the user's personal information. This provides the user with huge profits. This is an independent form of currency and can be used in any part of the world. Even it provides less transaction cost along with the less time of the transaction to take place just read more.
Even a person like Elon Musk, the company owner, has shown his interest in cryptocurrency, especially in Bitcoin. He had invested more than 1 billion last year, and he had received more than 101 million of the profit. These profits are recorded by the balance sheets provided by Elon Musk. Here we can see that a person like Elon Musk had earned huge profits from Bitcoins.
Elon Musk last month mentioned that customers would be able to buy the cars of Tesla in the form of Bitcoins. And with a statement, he had invested a considerable amount in the bitcoins. Before investment, the prices of Bitcoins were falling continuously, but after the investment by Elon musk, the price of Bitcoins is increasing continuously.
From the recent news, this is heard that Tesla had sold 10 per cent of the shares of Bitcoins in the market to prove the cash flow resource in the market. But he had still kept his investment in Bitcoins with him. Elon musk had not sold his investment of bitcoins. Musk is considered to be the biggest supporter of cryptocurrency, especially Bitcoins.
Price of bitcoin in India
Even in India, the price of bitcoin is At the peak. It has just reached a few thousand rupees to lakhs. This is being declared illegal by the government of India, but still, the price of bitcoin is rising. According to the survey the smartphone users are getting increased and increased in India. Out of which, they are getting aware of investing in the field of cryptocurrency like Bitcoin. And even it is observed that India is also getting engaged in investing in Bitcoins.
Even the musk had said on Twitter that he had bought bitcoins to prove the liquidity of the bitcoins in the spreadsheets rather than to be with the cash flow. He just sold 10 percent of his holding of bitcoins from the tesla division.
But still, his share in the bitcoin market is the same; he had not sold any of the bitcoins from his account, as he mentioned earlier in his tweet posted from his Twitter account. And as he had his shares in the bitcoins, the prices of bitcoins are rising continuously from the day of investment done by Tesla. There was some fluctuation in the prices before the investment, but a sudden boom in the prices came.
These cryptocurrencies had made a great revolution in today's world because most people are investing in cryptocurrency on. Even now the great businessmen like Elon Musk and others are into cryptocurrencies. They are even going to make the source of payment for the products they sell in the market. As the cryptocurrency is independent worldwide, a person not only in America, but whole over the world would be able to buy the product in exchange for bitcoins.
CONCLUSION
From this information, we can easily conclude that the Bitcoin platform is considered the most profitable platform as it provides huge profits on investment. Here from this article, we can see that large businessmen like Elon musk are being invested in the bitcoin platform. Even musk is also considering making the bitcoins as the source of payment to buy the cars of Tesla.
Elon musk had even mentioned that not even in America a bitcoin user present anywhere in the world can go by car by paying in bitcoins. There is no limitation that the person should be residing in Canada to pay in bitcoins.
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