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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