Elon Musk’s Tesla has confirmed buying $1.5B in Bitcoin, and that has set the price of Bitcoin in fire.
Tesla, in a recent filing with SEC, announced the purchase which has increased the price of Bitcoin past $45K per coin.
Tesla mentioned –
In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.
And also, the company has indicated that it ‘may’ accept Bitcoin and other forms of digital currencies as a medium of payment and transaction in the near future.
Besides, the CEO of Tesla, Elon Musk, also seems to work as an advocator for Bitcoin. Recently, Bitcoin price went up on hike up to 20% after he had updated his twitter bio with ‘#bitcoin’. Also, his recent tweet regarding ‘Dogecoin’ also helped stir up some waves.
Dogecoin is the people’s crypto— Elon Musk (@elonmusk) February 4, 2021
Though Tesla made such a huge investment in Bitcoin, let’s see if it can get past the difficulties and accept Bitcoin officially.
Related (Upcoming): Bitcoin – The future of Digital Currency? (Blog)