The real-life Iron Man, Elon Musk never ceases to grab any opportunity. After all, he’s the mastermind. In the recent SEC filing, Tesla has revealed about their bitcoin investment. Tesla has purchased a whopping $1.5 billion in bitcoin. As cryptocurrency is always a hot topic, it looks like there’s an optimistic future ahead for cryptocurrency all thanks to Tesla.
Tesla buys $1.5 billion in bitcoin
Bitcoin is undoubtedly the famous cryptocurrency and Elon Musk as a futuristic investor has bought a fortune cryptocurrency. Not only that the company has stated that in the days ahead they may also accept bitcoin as a form of payment for the purchased cars.
The officials stated, “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. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets.”
“Thereafter, we invested an aggregate of $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products soon, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”
Following this news, the price of bitcoin rose by ‘7% to more than $43,000 per coin’ breaking its all-time high. Elon Mush has been vocal about cryptocurrency on Twitter. He even has added #bitcoin to his profile. He tweeted about a dogecoin that rallied token 37% in 24 hours to a record high of $0.084945 (as of 10:20 am ET Monday, Feb 8, 2021). For those who don’t know about Dogecoin, Dogecoin was created back in 2013. It’s based on the then-popular ‘doge’ meme that portrays a ‘Shiba Inu dog’ alongside multicolored text in comic sans font.
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