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About 3 to 5% of Public Companies to Follow Similar Path

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The best moment to buy or accumulate any digital asset is when the prices are low, and this may be a perfect time for corporate investors to follow Tesla’s Bitcoin investment move and get on the train.

Daniel Ives, a Wedbush Securities analyst, has noted that the $1.5 billion bet in Bitcoin (BTC) by electric vehicle manufacturing behemoth, Tesla Inc (NASDAQ: TSLA) will have a dramatic impact on corporate adoption of the digital asset. Speaking in an interview with CNBC’s “Squawk Box” on Monday, Ives noted that the automaker’s exposure to the premier digital currency is “not just a fad,” but part of a long-term strategy that is backed by both an investment and business thesis respectively.

He said he believes the Elon Musk-led company will “double down on its Bitcoin investment,” implying a possible increase in the company’s portfolio, and in the acceptance of the cryptocurrency as a form of payment.

“No doubt this is something that Musk and Tesla – they’re going to dive into the deep end of the pool on Bitcoin because they’re not just doing it from an investment perspective but from a transaction perspective,” Ives said.

According to Wedbush Securities, about 3 to 5% of public companies are likely to join Tesla in securing their treasuries using BTC in the next 12 to 18 months, but the engagement with Bitcoin will likely be limited just investments.

Tesla’s potential profit on BTC at the upper end of its all-time high above $58,000 is also an attractive call for other public companies to make similar decisions.

Good Time to Follow Tesla’s Bitcoin Investment Move?

The global cryptocurrency market is undergoing a bearish correction with BTC leading the dip. As many have often touted, the best moment to buy or accumulate any digital asset is when the prices are low, and this may be a perfect time for corporate investors to follow Tesla’s Bitcoin investment move and get on the train.

BTC is down by 12.60% at the time of writing according to CoinMarketCap, and each of the coins is exchanging hands at $48,596.24. The dip is all-encompassing, as Ethereum (ETH), XRP, Chainlink (LINK), Polkadot (DOT), and other altcoins not spared in the downturn.

Many analysts on crypto Twitter believe the correction is necessary in order to stir a big dive toward new price discoveries. There have been numerous comforting comments about the market with Bitcoin bulls advising their followers to “buy the dip,” a term that is much common when the market makes such dramatic twists.

While the entire digital currency ecosystem awaits the journey back into the glory days, a big announcement from a new institutional investor will not be surprising.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.





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Apple Pay integration and Staking 3.0 launch push COTI price to a new high

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As big-name payment processors like Visa and Mastercard increasingly integrate blockchain technology into their payment rails, decentralized platforms offering the best solutions to issues like scalability and fast transaction times are gaining traction. 

COTI is one such platform that has been gaining momentum in recent weeks after a series of network upgrades and big announcements brought extra attention to the enterprise-grade fintech platform.

According to COTI’s website, the protocol focuses on empowering organizations to create their own payment solutions and digitize any form of currency as a way to save time and money.

COTI/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets and TradingView shows that the price of COTI has rocketed 345% over the past month, going from a low of $0.63 on Feb. 4 to a new all-time high of $0.283 on March 5, as investor excitement grows following the release of COTI Staking 3.0 on March 1.

Fiat onramps and protocol upgrades help increase community involvement

Aside from the release of Staking 3.0, COTI also received an extra dose of enthusiasm on March 3 when it was announced that Apple Pay users are now able to purchase COTI as a result of a partnership with Simplex.

Scrolling through the project’s Twitter feed points to an active February for the COTI ecosystem. The list of multiple partnerships and integrations shows that interoperability is one of the ultimate goals of the protocol.

SushiSwap also announced the launch of an ETH-COTI pair on Feb. 26 as a way to expand user access and expand token liquidity, and the January release of its Crypto Volatility Index continues to attract new attention following a recent code optimization that helped reduce gas costs for using the index by 50%.

In February, COTI also had a record high for merchant transaction volume as the figure soared to 18.16 million. The team is now looking to increase the number of stakers on the network, as well as upgrade the current nodes.

The growing prominence of Bitcoin (BTC) and blockchain technology has the potential to bring increased attention to the COTI platform as small businesses and large organizations look to integrate blockchain payment rails and create in-house currencies.

The recent staking upgrades and fiat onramps have the project well-positioned for further upside as the current bull-cycle continues to unfold.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.