I believe the psychology for institutional investors taking the plunge and adding Bitcoin to their balance sheets for the first time is the same as that for someone getting their first tattoo. I.e. there is a lot of hesitation at first but, after it's done, plans are soon made for a second. Jumping through the hoops necessary to get "permission" from boards, leadership, etc. is a real pain. But once that permission is established, those barriers are greatly reduced. Especially in a bull cycle. So we shouldn't view Tesla's $1.5B investment in bitcoin as a singular event within the company. A true headline would be "Tesla Makes First Investment of $1.5B in Bitcoin."
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