When it comes to Facebook, bitcoin and Tesla, the three entities all seem to share a connection of sorts. Bitcoin is the primary cryptocurrency created in 2008. It has led to the creation of other digital currencies such as Ethereum, Ripple and EOS to name a few.
Facebook and Tesla and BTC: What Connects Them?
When it comes to Facebook and bitcoin and the relationship that those two entities share, Facebook has clearly been inspired by bitcoin and the crypto space to create its own digital currency. Known as Libra, it would serve as a global currency that could be used to purchase both goods and services through Facebook.
Regarding Tesla, clearly there is a correlation between Tesla stock shares and bitcoin in that whenever Tesla appears to go up, bitcoin does the same and vice versa. In addition, the CEO of the car company Elon Musk has been a large bitcoin and cryptocurrency advocate despite never really having a solid hand in either party.
According to Chamath Palihapitiya, there are strong links between all three of the mentioned assets, and he’s got thoughts and ideas about all of them. As the former vice president of Facebook, Palihapitiya was part of the original management team and understands how the platform works from left to right. He believes that a lot of things should have been done differently when it came to the early days of Facebook, and while the social media company is hugely successful now, the road to get there certainly wasn’t easy.
In a recent interview, he discussed Facebook and said:
I think we should have gone public a year or two earlier. Had we done that we would have been forced to pay attention to the transition to mobile sooner… In 2014, I made a big decision to sell all my Facebook stock.
A Growing Company
It’s interesting to hear that he removed himself from Facebook as a shareholder considering two years later in 2016, he would garner stock in Tesla, which has since become quite a massive conglomerate. The company’s stocks grew to unprecedented levels during the COVID spike, and he sees the company becoming a $1 trillion entity in the coming future. He states:
In my opinion, [Tesla] now is on a death march to being the largest company in the world. It will be on the scale of Apple, probably larger than Amazon.
His thoughts on bitcoin tend to be much simpler considering he has sold all his individual bitcoin units and now chooses to invest only in companies that delve in bitcoin and crypto. However, he was quick to mention that cryptocurrency is a “really good place to be,” and he clearly believes it to be part of a huge financial wave that will bring about monstrous change.