Tesla Bitcoin buy $1.5 billion payment elon musk


Image Source : AP

FILE – In this Dec. 1, 2020, file photograph, SpaceX proprietor and Tesla CEO Elon Musk arrives on the crimson carpet for the Axel Springer media award, in Berlin. Tesla says it has invested greater than $1 billion in Bitcoin and can settle for the digital forex as payment for its electrical automobiles. In a regulatory submitting Monday, Feb. 8, 2021, Musk’s electrical automobile firm mentioned its board accredited of the $1.5 billion funding and doubtlessly extra sooner or later.


Tesla has acquired round $1.5 billion in Bitcoin beneath an funding coverage on the electrical automobile maker headed by Elon Musk, and it plans to start accepting the digital forex as payment for automobiles quickly.

The California firm revealed the brand new technique in a submitting with the U.S. Securities and Exchange Commission early Monday, saying its funding in digital forex and different “alternative reserve assets” might develop.

Bitcoin spiked 14% and appeared to briefly hit a brand new all-time excessive. Shares of Tesla moved greater as nicely.

In its fourth quarter earnings report final month Tesla mentioned it had money and money equivalents of $19.4 billion.

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