Tesla's $1.5 billion bitcoin assets may have a long tail. After news broke that Tesla replaced part of US Treasury bills with cryptocurrencies, Bitcoin's single-day US dollar growth set a record. Bitcoin gained over $8,000 today and set a new upper limit above $48,000. This time the market value of Bitcoin is estimated at 834.2 billion U.S. dollars, which is more valuable than all listed companies in the world except seven
It might happen but not at this price level for sure! Companies can legally purchase bitcoin or other crypto assets but that is subject to the approval of their board of directors and for public listed companies, it needs stakeholder approval! So it's easier said than done!
Bitcoin's price is standing at a very high level right at this moment! So the other companies would want to exercise some caution before they jump into such decisions. So it might happen but not immediately!