You might not have the swagger of billionaire Elon Musk or even a Tesla for that matter, but you can HODL crypto like him!
So what is HODL’ing anyway? In the crypto community, HODL’ing is slang for “Holding On for Dear Life” which refers to a person who buys and holds on to cryptocurrencies rather than trading or selling them. The hope is to catch massive upside in the future which is exactly what Musk at Tesla is positioning to do. On Monday, news broke that Tesla drove $1.5B of its cash reserves into bitcoin (BTC). Why? At the end of 2020, the company had more than $19B in cash reserves and cash equivalent and said that BTC brought “more flexibility to further diversify and maximize returns on our cash”.
Musk’s massive HODL signals to the masses that cryptocurrencies are here to stay as enterprise investments such as Tesla’s, coupled with the use of crypto becomes more mainstream. Making cryptocurrencies better known and available to a wider public is also something we’ve set as our aim at Opera, making our Crypto Wallet available across our browsers.
An earlier Opera blog described Tesla’s core adoption of Web 3.0 and The Internet of Things (IOT), which Opera embraces through its seamless Web 3.0 browser, imbedded crypto wallet in the browser, easy top offs with crypto currencies like Bitcoin and Ethereum, and immutable file sharing and storing on blockchain through hashable domains. Since 2018, Opera has been in pole position to help you onboard to cryptocurrencies.
Elon Musk is HODL’ing Bitcoin (BTC). So If you’ve never given crypto a try and want to be a tiny bit like him, you can simply open the Opera Crypto Wallet, click on the plus button, and add some crypto to your wallet.
Tesla will be the first car manufacturer to use cryptocurrency just like Opera was the first browser to natively enable cryptocurrency transactions. Open your Opera crypto wallet and get ready to purchase your new Tesla Model 3 (equivalent to the price of 1 BTC or $43,000 at the time of writing) or HODL like Elon!