Selling of Tesla Inc. shares was reportedly halted on Friday as Elon Musk, CEO of Tesla announced in a tweet that the company could go private pretty soon. In order to achieve his ambitions, the CEO could rely on cryptocurrency tokens, according to Hayda Hadar of Andra Capital who runs a similar model of business.
Even though Elon Musk claims to have “funding secured” for his proposed move, cryptocurrencies offer something that he cannot overlook. In fact, it could even become the key strength of Tesla Inc. as Hayda Hadar explained in an interview with Forbes.
“I love Tesla, I love Elon Musk, and I think he should definitely consider the blockchain and tokenization of assets. We’ll call it the Tesla coin,” Haba said in the report.
Haba uses cryptocurrency to carry out investment in private tech companies that are likely to go public in the next few years. For Instance, a new Silicon Valley coin backed by his fund Andra capital is in the process of raising USD 1 billion in token sales.
If Elon Musk were to adopt this model for Tesla, then his venture will likely be the first to introduce the process of investing in the stock market using digital tokens instead of traditional shares. It is known that many firms are exploring this possibility, Tesla would have an edge since it is going private pretty soon. Read more from cryptodisrupt.com…
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