Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept BTC Payments
Elon Musk frequently comments about cryptocurrency, on social media. Explore how this new move will change the Bitcoin scene.
Tesla has purchased $1.5 billion of Bitcoin, according to a 10-K filed with the Securities and Exchange Commission (SEC), which was first reported by Crowdfund Insider.
The massive Bitcoin investment by the electric vehicle maker prompted the cryptocurrency's price to jump 7 percent, taking it past $43,000 for the first time in its history.
Under the SEC filing, Tesla said it could "acquire and hold digital assets from time to time or long-term." Importantly, the company also revealed it is working towards allowing Tesla customers to buy cars via Bitcoin payments.