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I'm going to tell you why I think Elon Musk getting Tesla to buy $1.5bn of BTC is a a bad move for Tesla and a bad move from Crypto. First off why might it be good? Its the most massive advertisement for Tesla, Musk and Crypto ever. Other companies are now 'allowed' to buy it by pointing at Tesla. Against this must be placed the negatives. Tesla reports in US dollars, so its introduced massive volatility into its balance sheet. Its GAAP earnings are going to bounce around like crazy. The wider problem is bigger. Musk and Tesla have just given the United States of America and the US dollar a massive middle finger. You can think this is great and appropriate, at the same time as acknowledging that the United States is still the pre-eminent super power. The pre-eminent super power that continues to control the global financial system. Sure crypto enables some forms of freedom that were difficult before. However the world transacts at the mercy of the United States banking system (just ask the Iranians). I really do not see how the United States, the Federal Reserve and the SEC do not now step in and retake control of the areas of crypto within their grasp. Number one would be an assault on Tether and its so called dollars. The United States cannot any longer ignore this apocryphal firm printing its currency. Btw I think crypto is great, but neither do I throw stones at bears having a quiet snooze. Musk throwing BTC on to its balance sheet feels similar to Facebook announcing Libra. Its painted the target.