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Tesla Holds $1.99B Bitcoin, Good for BTC Growth -Breaking

by Mike Robinson

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© Reuters. Tesla holds $1.99B of Bitcoin; Good for BTC Growth
    • Tesla’s share in is now $1.99 billion.
    • Traders see it as a good move for Bitcoin’s growth.
    • Others also suggest that it will help BTC’s utility if Tesla (NASDAQ:) holds its Bitcoin for the long term.

Tesla is an electric car manufacturer that holds more than $1.99 BTC in Bitcoin. As per traders, the amount of BTC that Tesla holds is a good step to boost BTC’s utility growth.

Moreover, traders think that if Tesla keeps its BTC holdings for the long term, it will sustain Bitcoin’s growth and its market dominance. Apart from the different suggestions and opinions by the traders, Tesla’s Bitcoin holdings have raised many concerns among some of the popular BTC enthusiasts in the market.

Alongside this, the Twitter (NYSE:) crypto netizens suggest that Elon Musk’s appearance and presence in the crypto space has been helpful to Bitcoin and most of the other Altcoins massively.

Furthermore, they admire Musk’s presence in the market in esteem because of how he has been supportive of Bitcoin since last year. Musk’s previous announcement, that Tesla would accept Bitcoin payment was also cited by them as one of his greatest efforts to support the BTC marketplace.

Lastly, Tesla holding the $1.99 billion in Bitcoin is pretty much good for the crypto’s market potential and valuation. MicroStrategy and Tesla are also supporting Bitcoin. Every day, more Bitcoins are added to the crypto treasury by this company than ever before.

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