Despite Elon Musk’s often incongruous indifference to the way of the world, he is also pragmatic and has visions that far exceed the steady, safe goals that many others in the tech world have. 

Now, this can be both a positive and a negative – it means that he encourages the sort of adulation that few billionaires in the world do. In fact, he seems to be one of the few billionaires on Earth who has any sizeable appreciation, that is, if you browse social media sites and take what people are saying at face value.

Tesla, his brainchild and the primary reason he is yet again the world’s wealthiest individual is a source of divisive opinion. Regardless of your opinions about the South African billionaire, nobody can accuse him of standing still or resting on his laurels. You only need to look at the diversified nature of Tesla’s investments and ideas to see how bold his plans are in the medium and long term. 

Bitcoin & Tesla

Cryptocurrency continues to gather more attention in the tech and financial worlds. While the momentum might not have been as sudden or sharp as some people expected, the rise of subsidiary parts of the crypto world has caused great excitement – and bolstered the industry. 

Obviously, Tesla and Musk’s appetite for Bitcoin has helped it tremendously. However, the rise of actual use cases, such as cryptocurrency casinos, has meant that the industry is now beginning to address some of the dated questions people would ask about tangible use cases for their digital assets and cryptocurrency wallets.

Crypto casinos have pivoted towards this niche – and over the last few years, the industry has gone from offering crypto as a payment method to platforms that deal solely with cryptocurrency. Thunderpick Casino facilitates a route for those looking to place a bet with Bitcoin, giving them the same options you can find at a traditional sports betting provider. 

Thunderpick Casino has identified the emerging trend by offering solely cryptocurrency betting markets, fusing Bitcoin with a rising online gambling sector. Tesla’s interest in the world’s most prominent digital asset has heightened the growing intrigue – but it shows how the demand is growing in both worlds.

Bitcoin, X & Tesla 

While other tech CEOs have been complimentary about Bitcoin for years, Musk was among the first to double down on his praise and put it on Tesla’s balance sheet in 2021. Microsoft has allowed people to use Bitcoin on their Xbox stores since 2014, one of the earliest adoptions of it anywhere in the tech world. However, they fell short of their commitment, not choosing to invest in it, and a couple of years later, they cooled their interest and rhetoric. 

There will be a crossover between X and Bitcoin at some point. Although much of the noise seems to be about integrating Dogecoin as a payment system, it feels like it’s more of an Elon power trip, tweeting about Doge and watching it fly in price. More recently, this impact has been nowhere near as effective as in 2021. 

Bitcoin is probably the most likely, given how much Tesla holds it. Aside from Ethereum, it’s the only asset with a modicum of intrigue from institutional financiers.

The Self-Driving Car Revolution

Tesla is spearheading an EV revolution, and while it might be the reason Musk has been able to keep himself in the top three wealthiest people since the mid-2010s, other companies are looking to eat into this market share and offer an FSD (Fully Self-Driving) and autopilot options that can surpass what Tesla has to offer.

Musk now faces the issue of missing several deadlines with his EV predictions. It undercuts the company’s credibility, especially in the medium to long term. While his cult of personality impact on both X and Tesla has meant that he has a bit more breathing room than other monolithic figures, there’s only a finite amount of time these predictions can be off before people begin to look at alternative companies that can stick to realistic expectations. 

Given how thin he has now spread himself by acquiring one of the world’s biggest social media companies, you’d think this challenge becomes even more pressing.  

Final Thoughts

You’d think Elon’s medium-term strategy would be to get ahead in the self-driving and EV sectors and fuse it with getting X back into some form of stability, given that the company has been losing billions since his takeover. Given some of the exploits that have been revealed recently, there have been concerns about Tesla’s security, which, again, is a vitally important component conducive to the company’s success over the next decade.

Suppose Bitcoin can soar to new all-time highs, and Elon continues to keep a lot of it on the Tesla balance sheet. In that case, that could, in theory, result in billions of dollars worth of profit, mitigating some of the more troublesome factors we’ve touched on today and offset some of the losses. 

However, he’s no stranger to adversity in business, and Musk has navigated stormier waters before – but with so many plates to now keep spinning, how he chose to steer the ship will be a fascinating story to follow and an even nervier one for Tesla shareholders.