Tesla Purchases Over 1 Billion Dollars in Bitcoin With Plans to Start Accepting Cryptocurrency Payments

 

Elon Musk is known to boost the digital currency and now, he’s just set the record high once again by purchasing $1.5 billion USD in Bitcoin, leading to a sharp increase in both Bitcoin and Dogecoin.

 

 

Elon Musk is the face and CEO behind the electric car company Tesla, and he has now revealed that he is considering accepting Bitcoin as payment too. In fact, a filing with the US Securities and Exchange Commission reveals that Tesla has ‘updated [its] investment policy to provide more flexibility to further diversify and maximize returns.’

 

 

The company also added, ‘We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.’

 

 

Musk has also shown to be a supporter of Bitcoin, sharing, ‘I do think at this point bitcoin is a good thing, and, so, I am a supporter of Bitcoin. Like I said, I was late to the party, but I am a supporter of Bitcoin. And I think, Bitcoin is really on the verge of getting broad acceptance by conventional finance people.’

 

Following the purchase, Bitcoin has now reached over $47,000 USD, which is 300 percent higher than the price this time last year.

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