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Author: Admin | 2025-04-28
The future of money. Kirkhorn, who was given the title “master of coin” in March 2021, explained that “being able to access our cash very quickly is super important to us right now.”Bitcoin’s price has soared in recent months.ShutterstockThis is expected to be particularly important as Tesla works to expand over the coming year. The company aims to start production at two new factories later this year, one in Texas and one in Berlin. Tesla also plans to start production of its Semi truck, with large-scale Cybertruck production following next year.Tesla, Kirkhorn says, is also concerned about global issues like port capacity and semiconductor shortages. On the latter front, it announced in its earnings report that it switched to new microcontrollers to avoid the worst effects of the ongoing shortage.While Tesla’s primary motivation may be finding a place to put its cash, it’s also dipped a toe into full cryptocurrency support. On March 24, Musk announced via Twitter that customers can now purchase a car using bitcoin.“There's a lot of reasons to be optimistic here,” Kirkhorn said. “We're certainly watching it very closely at Tesla, watching how the market develops, listening to what our customers are saying.”The Inverse analysis — Tesla’s reasoning for its bitcoin purchase seems relatively straightforward — it wanted to invest somewhere with liquidity. It also seems to have paid off, as the price has increased 25 percent since the day Tesla announced its purchase.But bitcoin’s energy usage, which Musk expressed concern about in 2019, remains an
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