Today the price of bitcoin exploded past 46k after Tesla announced their purchase of $1.5 billion worth of Bitcoin.
"Moreover, we expect to be accepting Bitcoin as a form of payment for our products in the near future," they said.
Juggernauts like Microstrategy, Square, and Telsa are making bitcoin part of their reserve assets, as a hedge against inflation and economic instability.
This is a dramatic move, cheered by those who value financial sovereignty, and derided by those who feel it was reckless for their shareholders, and ties the stock too closely to the price of Bitcoin.
But given the TSLA stock price just after the news, the question is, which S&P500 company is next?
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