Tesla invests $1.5 billion into Bitcoin; price up 15 percent
The richest man in the world has made a huge impact on one crypto currency to start this week.
In information revealed today, Elon Musk’s electric vehicle company Tesla has invested about $1.5 billion into Bitcoin, causing the cryptocurrency to skyrocket this morning.
Tesla also announced it will be accepting Bitcoin in financial transactions in the near future, making them the first automobile company to do so. Because of Musk’s move, investors anticipate other companies to begin to invest in and use Bitcoin in their transactions.
“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,” the company said.
After the news broke this morning, Bitcoin jumped from around $39,000 per coin to over $44 thousand by 5 p.m.
