Electric carmaker Tesla invests $1.5 billion in bitcoin: official 

Tesla’s ground-breaking move – it also plans to accept bitcoin as payment for its cars soon – has seen the digicurrency hit record highs 

by Subrat Patnaik
Electric carmaker Tesla invests $1.5 billion in bitcoin: official 
The American EV firm is also planning to accept bitcoin as payment for its products.

American EV firm Tesla has revealed that it has invested around $1.5 billion in bitcoin – and it expects to begin accepting payment for its cars and other products with it in the near future, prompting a 7% jump in the electronic currency.

Tesla said on Monday in a filing that the decision was part of its broad investment policy as a company and was aimed at diversifying and maximising its returns on cash. 

It said it had invested an aggregate of $1.5 billion in bitcoin under the changed policy and could "acquire and hold digital assets from time to time or long-term". 

Bitcoin surged after Tesla made the disclosure to hit a record high.

  • Reuters

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