Tesla invests $ 1.5 billion in Bitcoin

English Feb 8, 2021

Tesla recently bought $ 1.5 billion in Bitcoin and stated that the company plans to start accepting the digital currency in exchange for its products soon, which would make the company the first major vehicle manufacturer to use this means of payment.

According to analysts, the amount invested would correspond to 7.7% of the company's total cash.

In a document sent to the Securities and Exchange Commission, Tesla says it bought bitcoin to "have more flexibility, diversify even more and maximize the return on our cash".

The decision again puts Tesla chief executive Elon Musk at the center of a controversy. Once again, the eccentric billionaire has used Twitter in recent weeks to post positive messages encouraging people to buy digital currencies.

Bitcoin's price rose to new highs after Tesla's announcement, reaching at least $ 44,200. Tesla's shares advance 1.36% on the NYSE.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.