Cryptocurrencies are being taken more and more serious by big companies that are considering to include or completely change its business model to the cryptocurrency model, offering blockchain related services to remain relevant or to steer their ship to revenue during troubled times. This is the case of Overstock and also IBM, companies that by going blockchain managed to turn their numbers to green recently. Now that Elon Musk, founder of Tesla, one of the most important electric car and tech company in the last century has announced that they could take their company private, some investors think that TeslaCoin could be a thing in the near future.
While all of this could sound crazy to most people aware of the Tesla situation right now, the tweet of Elon Musk where he says he has “fundings secure” was strange and caused waves of anxiety and reaction from different people in the world. Tesla’s tech is revolutionary, even bringing autopilot to its division of electric cars; although they are in general perceived as a prosperous company, they have been struggling to stay in the green numbers with the latest flop of the Model 3, an attempt to bring the tech of more expensive cars to the masses.
That is why some investors are thinking that maybe this “secure funding” could mean Tela is going the ICO way. An Initial Coin Offering, or ICO as it is commonly referred to, is a crowdfunding initiative that lets investors preserve the property of their company while they offer the chance for people to collaborate with their initiatives with the purchase of a token that allows them to have a kind of stake in their project. Haydar Haba, a private investor that has put money in various private companies with the backing of its fund called Andra Capital, thinks that the best way for Tesla to go private would be embracing crypto as a tool like we explained before.
He talked to Fortune about the process of crowdfunding its venture called Silicon Valley Coin, and he declared that the best way of Tesla doing things would be tokenizing its company, a process that backs existing industry assets into virtual coins. He declared:
“I love Tesla, I love Elon Musk, and I think he should definitely consider the blockchain and tokenization of assets”
While it is unclear what Elon Musk has in mind for Tesla in the future, it has investors building a hypothesis for what is coming in the future for the company. Tesla going crypto could be the sign that blockchain based assets are prepared to go mainstream in the near future, and would be a great push for cryptocurrency tech adoption worldwide.