bitcoin the magical world of cryptocurrency are you accepting bitcoin should you be accepting
bitcoin in this video we'll explore how you could grow your revenue through accepting bitcoin
and potentially 10xing your revenue and profits today we'll explore how tesla is leading the way
in this innovation elon musk recently announced that you can purchase a tesla using bitcoin while
this is big news the bigger news is what they plan to do with the bitcoin from these purchases we'll
also go over the benefits of why you may want to start offering bitcoin as a payment method
for your store and how it could grow your store's revenue and give you better margins
okay let's back up a bit and review what's been happening in bitcoin recently if you've been
following bitcoin you've been seeing more and more companies these days buying and holding bitcoin
as an investment on their balance sheet these companies are doing this as an investment with
their cash sitting on the sidelines one of the most famous companies for doing this is called
microstrategies they have purchased more than four and a half billion dollars worth of bitcoin
michael saylor is the ceo of microstrategies and is very outspoken and vocal about his investment
in bitcoin and why micro strategies have been leading the way into investment of bitcoin and
since then many other large companies have been doing the same thing some of the top companies
are such as square mastercard paypal and tesla okay so let's dive a little bit deeper into tesla
tesla has invested nearly one-tenth of its free capital into bitcoin they have invested one and
a half billion dollars into bitcoin which was announced february 8th of 2021 their bet seems
to be paying off as tesla has already made a billion dollars from the initial investment
while recording this video only a month later pretty impressive they can make a billion dollars
in just a month from this one investment this is actually more than they have made in making cars
in the last quarter now tesla is doubling down on their initial investment by not only accepting
bitcoins for purchase of cars but now elon musk says they won't exchange that bitcoin for other
currencies so they're gonna hold on to bitcoin so so why is this a big deal well this means tesla's
position in bitcoin continues to grow rapidly for one they're now allowing people to buy their cars
with bitcoin and two bitcoin continues to grow in value while there is a big risk in this move
if bitcoin's value continues to rise this bet could pay off huge dividends for tesla many
top analysts predict bitcoin to continue to grow to a price of 100 to 300 000 just this year and
in five years up to a million dollars for an example jpmorgan predicts the price to be 650
000 by next year this means tesla would have nearly earned 20 times their initial
investment in bitcoin and could be a huge part of their business strategy moving forward i got
this quick interview with michael seller talking about how tesla has recently purchased bitcoin
and how they're allowing people to buy tesla's using bitcoin and what they're doing with it
michael let's get into a little bit about what's happening uh really around businesses
that have made some pretty dynamic moves uh here just in the past few months
that being tesla being pretty much the poster child of this little move here converting uh
their treasury into bitcoin and now just yesterday releasing in their app that you can actually buy
a tesla with bitcoin so kind of your thoughts i think you were one of the catalysts of this whole
thing with your uh challenge out there to elon kind of tell me where you think this is going
well i think this is part of the digital transformation of balance sheets uh across
industry uh bitcoin's been going up at 200 percent on average over the course of a decade but
uh in the past six months it's up 500 percent right and so it's an appreciating asset
in a macroeconomic environment where where the currency is being inflated at anywhere from 15
to 20 percent so corporate treasuries that are holding cash are holding a depreciating asset
tesla is just a leader in converting some of that balance sheet to bitcoin there's obviously a huge
amount of enthusiasm for for anything bitcoin related and so by tesla announcing they're
accepting bitcoin as payment i think that was a a great um a great legitimizing action that's going
to cause many many other companies to think about doing the same thing but the more important part
of the announcement is that tesla announced that if you pay them in bitcoin they're not going to
convert it back into dollars they're going to hold it on their balance sheet as bitcoin right you
know as you can imagine if i give you a hundred thousand dollars in bitcoin and it doubles every
six months which is what it has been doing for the past decade then the single most important thing
would be i'm investing a hundred thousand dollars in an asset that i expect to double 20 times over
the next decade or some many times and so that's that's really the critical part of this news so
the question is what would be the benefits for you adding bitcoin as a payment method for your store
well some of the basic fundamental benefits of bitcoin as a payment method for your storefront
would be giving your customers more payment options lowering your transaction fees in general
and being your own bank and allowing other banks and payment methods not to be able to shut down
your store but the real magic comes to play is if you hold on to that bitcoin after the purchase
so let's just say that ten percent of your customers actually decide to use bitcoin which is
a high amount likely is going to be less but instead of exchanging bitcoin into us dollars or
other currencies you keep that in bitcoin then you could potentially have the same position as tesla
as the value of bitcoin continues to rise well so does your margins this would add a small amount
of risk potentially into your business but it could also be a huge profit this 10 of your sales
being in bitcoin if bitcoin's value continues to double it can make as much margins as the other 90
of your business potentially i'd be interested to hear your guys thoughts on this please leave
a comment below on your take on this and if you think it's a good idea or not to accept
bitcoin at our agency we'd be interested in doing more case studies on people that are accepting
bitcoin in their stores and how this affects our conversion rate so if you'd be interested
in doing a study like this please hit us up and that's all we have for today catch you next time