After Tesla’s $1.5 billion Bitcoin investment, questions are being asked about which institutional investor would be welcomed next into the crypto space. Max Keiser, the Keiser Report host, has said the next firm to be welcomed would be America’s multinational IT firm, Oracle Corporation.
After Tesla’s investment, rumors filled the air that tech giants Apple would be the next firm to invest in Bitcoin. However, Keiser states that Oracle Corporation would be ahead of Apple with its Bitcoin investment.
The only nexus between Keiser’s words and potential investment in Bitcoin by Oracle is Larry Ellison, Oracle Corporation founder. Larry joined the Board of Directors at Tesla on December 27th, 2018. Before doing so, he had purchased three million shares and became the second-largest shareholder after Elon Musk.
SOURCE: Next big corporate #BTC buyer is Larry Ellison, Oracle
— Max Keiser (@maxkeiser) February 9, 2021
Keiser also predicted that American motor giant Ford would also invest in Bitcoin but says it is after Bitcoin price has surged higher before the automobile giant join the crypto fold.
Twitter to join crypto institutional investors
Twitter Chief Financial Officer Ned Segal said that the giant social media platform is looking into potentially putting bitcoin into its balance sheet. Beyond that, the CFO said the firm would be ready to pay employees and vendors who wish to be paid in cryptocurrencies.
In a CNBC interview, the CFO said that the social media platform is “watching closely” what other companies do to learn from their moves, and Tesla’s BTC purchase didn’t go unnoticed. He said they are looking at placing Bitcoin on their balance sheet, but only if there’s any demand for it.
After Tesla, clarion call for firms to go crypto
Beyond Max Keiser, many other crypto stakeholders have called on firms to become crypto institutional investors. Jim Cramer, an American TV personality, has said it would be a bad idea for businesses not to get on board with Bitcoin.
Cramer tempered his advice, saying that he doesn’t believe that “companies should invest big” in Bitcoin and that it should only be a “piece of the puzzle.” He called himself more “traditional” in terms of hedge options, such as buying gold or selling calls against stock, but still advised that Bitcoin should be part of a mix of assets for companies.
“Every treasurer should be going to boards of directors and saying should we put a small portion of our cash in #bitcoin,” says @JimCramer. “Nice hedge against fiat currency.” #btc pic.twitter.com/S65wbNzCxp
— Squawk Box (@SquawkCNBC) February 9, 2021
Grayscale Investments CEO Michael Sonnenshein believes that more big companies will invest in Bitcoin following Tesla’s $1.5 billion purchase.
Speaking on CNBC’s SquawkBox, Sonnenshein stressed that Tesla was not the first big company to add Bitcoin to its balance sheet. He is, however, of the opinion that other large enterprises will follow its example.
With its $1.5 billion crypto investment, Tesla is the second-largest Bitcoin institutional investor after MicroStrategy that invested three times in Bitcoin.
“You have @ElonMusk @michael_saylor @jack. You’re going to see a lot of other visionary leaders and disruptive companies actually realizing it has really moved from why to why not,” says @sonnenshein on corporations investing in #bitcoin pic.twitter.com/6FnwEjGFNL
— Squawk Box (@SquawkCNBC) February 10, 2021
Source: Two other institutional investors set to invest in Bitcoin after Tesla