Image Source : AP Tesla invests $1.5 billion in Bitcoin, cryptocurrency surges to $44K
Tech billionaire Elon Musk’s electrical car firm Tesla has invested $1.5 billion within the Bitcoin cryptocurrency, in accordance with its annual 10-Ok report filed with the US Securities and Exchange Commission (SEC) on Monday. The announcement led to a surge within the worth of 1 Bitcoin, which was hovering round $44,000,
Tesla stated it is going to additionally “begin accepting bitcoin as a form of payment for our products in the near future.”
The announcement comes amid renewed curiosity proven by Musk in cryptocurrency and requests from Tesla clients for accepting bitcoin for purchasing the vehicles.
“In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximise returns on our cash that is not required to maintain adequate operating liquidity,” Tesla stated within the report.
“As a part of the coverage, we might make investments a portion of such money in sure specified various reserve property.
“Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” it added.
Musk has additionally been sending tweets in assist of Dogecoin over the previous week, resulting in an increase within the cryptocurrency’s worth.
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