That Tesla chief Elon Musk would, one way or another, place his trust in Bitcoin was to be expected. He had already stated his interest and his enthusiasm for the cryptocurrency many times in the past and had previously considered switching the whole of his corporate financing to this digital money format. Words turned to action, with Tesla investing USD 1.5 billion in bitcoins.
An unexpectedly profitable three months propelled Tesla’s stock to over USD 850 before it plunged to USD 670 when the electric carmaker’s chief executive, Elon Musk, sent out a tweet complaining about the high price. Not much later, though, the stock rallied again, racing toward USD 1,000 after sister company SpaceX, which is also headed by Musk, announced it successfully sent one of its rockets into orbit.
Tesla CEO Elon Musk was as eloquent as ever when he raised the targets for the company’s electric car models: Instead of producing 500,000 electric cars (total figure, all models – i.e., Model S, Model X and Model 3) in 2020, the company should already achieve that number in 2018 and increase it to one million in 2020. One can question whether these targets will become reality, as they require even more large infusions of cash, making additional capital increases inevitable. And this although Tesla has just recently sought more money