©Reuters. Tesla describes Bitcoin as a “liquid alternative to cash”
The flesh of one is definitely the poison of the other. While billionaire Warren Buffett was recently dubbed an unproductive asset, Tesla (NASDAQ:) praised Bitcoin’s liquidity and long-term potential in a recent SEC filing.
In a recent filing with the U.S. Securities and Exchange Commission, Tesla Inc. reiterated its pro-Bitcoin stance, calling the asset “a liquid alternative to cash.”
According to the file, the electric car manufacturer is still holding on to its Bitcoin from the previous quarter. As reported by BTC PEERS, Tesla invested a whopping $1.5 billion in Bitcoin in total in the first quarter of 2021. In the filing at the time, the company provided information on how the investment “would give us more flexibility to further diversify and maximize returns on our cash not required to maintain adequate operating liquidity.” An excerpt from the most recent filing reads :
In the first quarter of 2021, we invested a total of $1.50 billion in digital assets. The market value of such digital assets held as of March 31, 2022 was $1.96 billion. We believe in the long-term potential of digital assets both as an investment and as a liquid alternative to cash. As with any investment, and consistent with how we manage fiat-based cash and cash equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and our assessment of market and environmental conditions . Speaking of Warren Buffet, bitcoin supporter and Mexican billionaire Ricardo Salinas Pliego took time to rebuke the former’s comments. In his opinion, Buffett is old and immune to change. It’s sad to see him rant about a subject he clearly doesn’t understand. That is why the future ALWAYS belongs to the young and not to the OLD. https://t.co/2L5Lc8zHjE
— Ricardo Salinas Pliego (@RicardoBSalinas) May 1, 2022
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