[ad_1]
Tesla Inc. has invested $ 1.5 billion in Bitcoin and has signaled its intention to start accepting cryptocurrency as a payment method, sending prices to a new record.
The electric car market leader said in a filing Monday that he made the bet on Bitcoin after updating its investment policy last month to allow the company to invest in digital assets as well as in gold bullion and gold traded funds.
“We plan to start accepting Bitcoin as a payment method for our products in the near future, subject to applicable laws and initially on a limited basis,” Tesla said in the securities filing.
The price of Bitcoin rose 13% to an all-time high of $ 43,725.51 on the news. It rose about 10% to $ 42,620 as of 8:08 a.m. in New York.
CEO Elon Musk has tweeted often on topics related to cryptocurrency and earlier this month called Bitcoin “a good thing” in an interview.
– With help from Esha Dey
[ad_2]
Source link