Which company will follow Tesla?

After Tesla’s $1.5 billion bitcoin purchase, the Internet is awash with rumors about which high-profile company is next.

But even at this stage of the game, corporate BTC purchases are drawing controversy from trad-fi supporters. They raise concerns about reducing dollar liquidity and increasing the risk of volatility.

As much as the “Elon candle” gave Bitcoin a massive boost on Monday, the mainstream media rallied to dismiss the news’s significance. Nevertheless, bitcoin is currently trading back at $46,200, with analysts seeing a rise above $50,000 soon.

The FT called Tesla’s bitcoin to bet a move that few companies are likely to follow. The article quotes treasury expert Jerry Klein, a managing director at investment firm Treasury Partners – who says it doesn’t make sense to trade cash for bitcoin.

According to Klein, security is the top priority for Treasury funds. He says that approach is not a good fit for BTC because of its characteristic high volatility.

“Companies invest their cash in very high-quality, short-term fixed-income securities and are willing to accept a relatively low yield.

I don’t think there’s an argument for putting corporate cash into a risky asset like bitcoin where they could see significant declines.”

Nonetheless, MicroStrategy CEO Michael Saylor addressed this point during a CNBC interview. He said that given a choice between holding cash and dealing with diminished purchasing power over time or holding the best performing asset of the last decade, he would buy Bitcoins every time.

Despite the controversy surrounding the matter, other companies will inevitably follow suit. The question is, which company will be next? Specifically: Which high-profile company is next?

Some have already mentioned Apple. They are in the same league as Tesla.

Bitcoin bull Max Keiser nominates US software giant Oracle. Aside from mentioning CEO Larry Ellison’s name, his tweet didn’t go into much more detail.

@BTC_Archive points out that Ellison is a board member of Tesla. His tweet even gives an approximate figure of $38 billion being considered for investment. If true, this would equate to a whopping 850k BTC purchase.

Given Jack Dorsey’s fondness for Bitcoin, however, Twitter is also fueling the rumors. When asked for his thoughts on Tesla’s play, Twitter CFO Ned Segal said they had done “much preliminary thinking” on the subject.