Speculators Ask How Could Elon Musk Use Crypto To Take Tesla Private
The CEO of Tesla, the famous Elon Musk, has recently told the media and the world that he was seeking backers to take Tesla private, which he tweeted that he had the funds to do. Now, an investor is offering him a solution: using cryptocurrency.
Haydar Haba, which has the custom of investing in private tech companies via his Andra Capital fund company, is currently in the process of raising $1 billion USD in a token sale of his so-called Silicon Valley Coin.
This new crypto will represent a stake of ownership in about 20 to 30 venture capital-backed startups of many regions of the world, which will range from China to the Silicon Valley. They will be chosen from the Haba portfolio using metrics that will choose the ones which have more growth potential and likelihood to go public soon.
Haba’s idea is that Elon Musk should tokenize Tesla if he wants to go private. As the company is already publicly traded in the stocks, it does not meet the criteria to be VC-backed, which is a must for Andra’s Capital, but the investor hopes that Musk is able to follow this path in the near future and create “Tesla Coin” or something like this.
Elon Musk Could Start A Trend By Following Haba’s Advice
Let’s say that Elon Musk actually follows Haydar Haba’s advice and decide to tokenize Tesla. This could become a trailblazer for a whole new way of investing and could make a lot of companies follow the trend.
Haba believes that 20 years into the future, private and public ownership will go away and people will only have a high-quality tokenized offering instead. According to him, growth coins are the future. He also affirms that the blockchain technology can offer many benefits to traditional investors that stocks do not.
Some of these benefits could be, for instance, to use the own equity of the company. It would take about 90 days and $30,000 USD just to transfer shares while you could do that in seconds with the blockchain technology and you could trade with global investors quickly. Haba describes this as something better than anything else that you can find right now.
According to him, tokenized shares has advantages that even other cryptos do not have. They are not backed by scarcity like Bitcoin, but by real assets with real value.