Skip to content

Tesla bought bitcoins for $ 1.5 billion and the price of the cryptocurrency jumped over $ 44 000

Tesla Inc said on Monday it had invested around $1.5 billion in bitcoin and expected to begin accepting payment for its cars and other products with it in the near future, prompting a more than 10% jump in the electronic currency.

In January 2021, Tesla changed its investment policy in order to achieve a more flexible approach to capital diversification and minimization of financial resources, which are not necessary which are not necessary to maintain the operational liquidity of the company. Tesla is starting to use bitcoins as “other alternative financial assets”.

The cryptocurrency market reacted immediately to this news and the bitcoin exchange rate jumped to a new all-time high of over 44,000 US dollars.

Today, the capitalization of the first cryptocurrency for the first time is history exceeded $ 816.4 billion.

Tesla is the latest company to add bitcoin to its corporate treasury, following similar moves by Square, the payments company led by Twitter Inc chief Jack Dorsey and U.S. software firm MicroStrategy Inc.


Leave a Reply

Your email address will not be published. Required fields are marked *

error: