Elon Musk Everyone Is SO WRONG About Cryptocurrency Market! Bitcoin Ethereum HUGE News
In early 2021, Elon Musk bestowed the landmark endorsement that, more than any other high-profile purchase, sent Bitcoin on a moonshot and clinched its status as a mainstream investment. Musk famously purchased $1.5 billion in the king of cryptocurrencies using spare cash on the EV maker’s balance sheet, a highly unorthodox move since most companies abhor putting their war chests at risk.
In public statements, Musk and CFO Zach Kirkhorn expressed great pride in pioneering a new practice of wagering to make big money on dollars virtually every other enterprise just wants to keep safe. Kirkhorn declared on last year’s Q1 conference call that the purpose was to “get some return” on cash “not immediately being used for operations.” In a SEC filing weeks earlier, Kirkhorn went so far as adding a second title to his rank as CFO: “Master of Coin.”
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