Elon Reeve Musk, the founder and chief executive officer of Tesla Inc (US: TSLA or NASDAQ: TSLA), has been actively tweeting on cryptocurrency since the beginning of this year, expressing his love for the crypto market. His posts have contributed to the ongoing rally, helping bitcoin hit an all-time high. But earlier, he had mixed feelings for the most popular virtual currency, Bitcoin. In 2019, Mr. Musk articulated that Bitcoin's structure was magnificent, but it was not a right fit for Tesla.
With Tesla set to accept payments in bitcoin, it would not be surprising to witness the crypto hit US$ 1 trillion in market cap. Interestingly, Tesla’s market cap, currently standing at US$ 818.5 billion, is also heading towards a one-trillion milestone.