Tesla just invested $1.5 billion in Bitcoin and also aims to start accepting payments made in BTC as we are reading more today in our latest bitcoin news.
The well-known tech company Tesla just invested .
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5 billion in BTC and Elon Musk also plans to add support for the cryptocurrency as a form of payment in the near future according to the US SEC filing:
“Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy.”
The company noted that its investment policy was updated back in January 2021 to provide “flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.” Tesla also noted that it could invest a slight portion of cash in certain specified alternative reserve assets. Furthermore, the company expects to start accepting Bitcoin as payments for products in the future as the document noted:
“Moreover, 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.”
As of press time, BTC is trading at $46,500,a new all-time high for the cryptocurrency. However, Elon Musk demonstrated recently that he has a notable influence on the crypto market once he changed his Twitter bio to “Bitcoin” and the price surged 20%. In another example, he tweeted only “Doge” and the meme crypto pumped by 80% last week. Another one of Musk’s tweets boosted Doge’s price by 50% shortly after.
The executive director of CEX.IO Konstantin Anissimov noted that the market is reacting to this news extremely fast which only shows the real potential of the asset:
“Everything goes to the fact that the upward trend in BTC/USD will be continued by a new wave of growth, which in February may raise this trading pair to $50,000. But we consider $48,051 as the closest target mark. This is an approximate figure based on operational technical analysis. Therefore, if Tesla is followed by a new wave of investing in bitcoin from the corporate segment, this level can be overcome very quickly.”
However, many in the crypto industry wonder whether the recent move and influence that Musk has on the crypto market can be perceived as a conflict of interest.
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