If anything I would just expect a higher peak with a higher bottom.
Nothing suggests this market is going to be much less volatile than before.
I suppose one can hope.
As far as Tesla is concerned: announcing you won't immediately transfer Bitcoin to fiat doesn't mean you aren't spending the Bitcoin. Operating costs are high. Seems like more of a marketing gimmick and shilling your own investments than anything else.
There will be volatility - but I also think that it is more likely that people will move to stables and then move back into BTC earlier than expected, bleeding less outside of the ecosystem.
To spend it, they will need to have some places to spend it - new gateways. I don't expect them to get a lot of BTC sales anyway :)
True... will be interesting though if 1 BTC is trading for a quarter mill.
I could also see them just selling huge chunks of BTC over the counter directly to other corporations so liquidity isn't an issue. I could also see them using the BTC as collateral for a loan somewhere else. There are a lot of possibilities I suppose.