June 22, 2021

Is Oracle Founder Larry Ellison Planning to purchase Bitcoin next?

2 min read

Larry Ellison, the prominent American financier, and co-founder of Oracle could follow in the steps of Elon Musk and add Bitcoin to his business’s balance sheet just like Tesla. Max Keiser, the bitcoin proponent revealed the news mentioning his sources.

What makes these rumors more powerful is the fact that Ellison is also a board member of Tesla which indicates he was involved in the decision making or perhaps approved of Tesla’s recent $1.5 billion purchase. During the last week of December Musk apparently flew to Hawaii to meet Ellison, now many Twitter experts claim that the meeting might have been concerning Tesla’s Bitcoin purchase.

Ellison’s distance with Musk might be the possible cause behind the ongoing rumors, however, Kieser on his Podcast noted that the exact same source that has actually told him about Tesla’s Bitcoin purchase has tipped him about Ellison’s supposed strategy to stay into Bitcoin.

Organizations Have Started Hoarding Bitcoin and More Would Follow

The ongoing bull run taking Bitcoin rate to a brand-new all-time high of above $48,000 was mainly attributed to the institutional increase that saw the similarity MicroStrategy, Square Inc, Grayscale, and now Tesla add Bitcoin to their business’s balance sheet. Michale Saylor recently exposed that a person estimate recommends nearly $25 Billion of institutional money would stream into Bitcoin this year.

MicroStrategy has spent almost $1.57 billion in overall on Bitcoin purchase that has actually almost doubled in worth, Grayscale Bitcoin Trust is actively buying Bitcoin, Jack Dorsey’s Square Inc is another organization that has actually purchased a considerable amount of Bitcoin, all these organizations are a shining example of Bitcoin’s elevation as the new shop of worth.

The discouraging value of the US Dollar in the international trade market has actually likewise made organizations try to find the alternative possession as treasury hedge, and Oracle with a $38 Billion evaluations can likewise begin with a 10% allotment. As more organizations realize the deficiency and technological superiority of Bitcoin over the traditional shops of value such as Gold, Bitcoin adoption would continue further.

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