Tesla has invested $ 1.5 billion in Bitcoin

Elon Musk, head of Tesla, has been posting several messages of support for Bitcoin lately, and now we know why.

The car company he runs has invested $ 1.5 billion in virtual currency, according to documents filed with the US financial markets arbitrator, the Securities and Exchange Commission (SEC).

Tesla has announced that it could accept Bitcoin for payments soon, where possible.

The price of Bitcoin rose by 17% in less than an hour at the end of January, after Elon Musk added the hashtag #bitcoin to the biography of his Twitter account.

BTC price evolution in the last month

Musk has recently supported another cryptocurrency, Dogecoin, and its price has risen rapidly.

 

The entrepreneur’s attitude towards virtual currencies has changed in recent years. In 2018, Musk wrote that he does not own virtual currencies, apart from 0.25 Bitcoin. He had received the cryptocurrency from a friend several years ago.

“I think at this point Bitcoin is a good thing. So I’m a supporter of Bitcoin. Like I said, I’m late for the party, but I’m a supporter, “Musk said recently.

At the time of writing, a BTC costs the equivalent of $ 43,068.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
%d bloggers like this: