A wild gamble where the chart average out trends only in a Northeastern direction... Not much of a gamble. Sure it corrects massively after each bubble, but take a look at this chart and show me where in the last 8 years it lost value for any significant amount of time. Nobody will make you sell on the low, this isn't a poker game where you run out of chips you're done. You can just wait out the lows. Note how small that first bubble looks, even though it was MASSIVE at the time.Damn it !
Elon should have bought Bitcoin a year ago when it was at $4,000.
He could have then stopped building cars and opened a hedge fund.
And I really do need to ask the Bitcoin fanboys - what happens on the day when a customer buys their Tesla with Bitcoin and the currency goes down 5% before Tesla can convert it to an actual dollar ?
What if Tesla decides not to convert the Bitcoins for a month and it keeps sliding ?
Please don't tell me Bitcoin could also go up. Of course it can. But that's not the point.
It's a wild gamble. And if it was such a sure thing, why didn't Elon spend his own fortune on Bitcoin instead of spending shareholder dollars? Oh yeah - it's quite painless to gamble with other people's money.
As for how buying cars with BTC would work, I'm not exactly sure, but it seems like a silly move to me, I'd use my rapidly depreciating cash for buying depreciating assets, not my BTC.