Balaji Srinivasan’s Prediction On China’s Role in Crypto Crash and His Top 5 Investments

  

4. Bitcoin   

Bitcoin is a blockchain-based cryptocurrency founded in 2008 by Satoshi Nakamoto. It is placed fourth on our list of top 10 investments of Balaji Srinivasan. In simple words, Bitcoin is a digit file stored on an electronic device or in a cloud. Bitcoin can be sent or received on these devices. The transactions are recorded in a public list called the blockchain. Bitcoin is the most popular and the most expensive cryptocurrency on the market, although its value has dropped in recent weeks as other crypto stocks register losses as well.

Bitcoin has been steadily gaining mainstream recognition and registered one of its biggest coups earlier this year when Elon Musk, the billionaire owner of electric vehicle maker Tesla, Inc. (NASDAQ: TSLA), announced that the company would start accepting Bitcoin as payment for vehicle sales. Tesla, Inc. (NASDAQ: TSLA) bought more than $1 billion in Bitcoin after the announcement. 

At the end of the fourth quarter of 2020, 68 hedge funds in the database of Insider Monkey held stakes worth $12.3 billion in Tesla, Inc. (NASDAQ: TSLA), up from 67 in the preceding quarter worth $8.1 billion.