Tesla has announced that it has purchased $1.5 billion worth of Bitcoin, the news was revealed in a recent SEC Filing.
The company has also revealed that it will start to accept Bitcoin for its Tesla vehicles in the near future, this has caused the price of Bitcoin to rise to around $47,000.
The electric car make has around $19 billion in cash, so this investment of $1.5 billion of its cash in Bitcoin is a significant investment for the company.
Tesla’s CEO Elon Musk has been tweeting about crypto currencies like Bitcoin over the last few weeks and has previous said that he is a supporter of the currency.
The company has mentioned in their SEC filing that the crypto currency is volatile, it will be interesting to see if their investment in the currency will help to stabilize the currency’s price over the longer term.
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