Bitcoin came within touching distance of this big milestone on Tuesday after briefly breaking $48,000.
“The world is moving online more and more, and Bitcoin sits at the heart of online transactions, and with this kind of endorsement from a multibillion-dollar company, it's likely the price will hit $50,000 by the end of the week.”
Of course, there are those that argue Bitcoin is actually rather ill-suited to the world of online payments. The network can only handle about five transactions per second — and volatility in its price means BTC probably better serves as a store of value. (As a case in point, a man who bought two pizzas for 10,000 BTC in 2010 has missed out on a $460 million fortune.)
“I don’t think there is a case to be made for investing corporate cash in a risky asset like Bitcoin, where they could experience significant declines.”
Then again, the likes of MicroStrategy CEO Michael Saylor believe Tesla has “de-risked” Bitcoin for big businesses — and could encourage other firms to explore ways to grow the cash they have sitting in reserve at a time of ultra-low interest rates.