Musk’s Tesla says it invested $1.5 billion in bitcoin, sending the cryptocurrency to record levels near $44,000

Musk’s Tesla says it invested $1.5 billion in bitcoin, sending the cryptocurrency to record levels near $44,000
Spread the love

Elon Musk’s Tesla Inc. said that it has acquired $1.5 billion in bitcoins in January and that it could accept the world’s No. 1 digital asset for payment in the future.

Tesla
TSLA,
+2.14%

revealed the purchase in a regulatory filing with the Securities and Exchange Commission on Monday, which helped to drive up bitcoin prices
BTCUSD,
+11.78%

to around $44,203, a gain of over 13% in early trade on CoinDesk.

“In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,” Tesla said in a 10-K filing with the U.S. markets regulator.

“Moreover, we expect to begin…



Original Author

Please follow and like us:
editor

editor

Live Updates COVID-19 CASES
RSS
Follow by Email