Tesla has claimed to have purchased $ 1.5 billion worth of Bitcoin. Elon Musk wants to let customers buy Tesla with Bitcoins soon.
Bitcoin has reached a new all-time high. The digital currency is now worth $44,000. The reason for the surge is the massive purchase of Bitcoin by Tesla.
Tesla shares in the stock market also rose by more than 2% in pre-market trading.
In the annual report, Tesla announced that it is adjusting its investment policy. The electric car maker wants to invest more of its excess money in gold, funds, and digital currencies.
Tesla also warned its investors about the volatility of the Bitcoin price. According to the official report, Tesla informed its stakeholders of their plans to diversify the payment methods and get maximum returns.
Elon Musk’s investment has given Bitcoin more legitimacy. And the chances to block cryptocurrency trade by many countries of the world are getting lower.
Tesla will start accepting payments in Bitcoin in exchange for their products, thereby becoming the first car manufacturer to accept Bitcoin as a means of payment.
Tesla CEO’s tweets about Bitcoin have raised doubts about his plans to support the cryptocurrency market. He has encouraged everyone to buy cryptocurrency through his tweets.
Apart from Tesla, other companies have also shown interest in buying digital currency, including Dell and Expedia Group.
