Elon Musk’s Tesla is investing $ 1.5 billion in Bitcoin

Tesla, the American electric vehicle and clean energy company co-founded by Elon Musk, announced Monday in a filing with the Securities and Exchange Commission that it had bought $ 1.5 billion in Bitcoin and is now accepting Bitcoin as a payment option . This makes Tesla the first major automaker to accept Bitcoin.

  • Tesla announces Bitcoin investment and the company now allows Bitcoin payment.
  • The price of Bitcoin rose to around $ 44,200 a few hours after the announcement.
  • “But when the richest man in the world does it, everyone has to take a second look, that’s out of the question.” Robert Pavlik – Senior Portfolio Manager.

For some, this move by Tesla comes as no surprise, as Elon Musk has always made positive comments when asked about Bitcoin’s legitimacy. Some would even say that he advocated Bitcoin in its early stages. For the past few weeks, Musk has been talking very loudly on Twitter about cryptocurrency on Twitter, adding hashtags like #bitcoin to his bio and declaring that he thinks “Bitcoin is a good thing and I am a supporter of Bitcoin”.

Some financial analysts predict that Tesla’s investment in Bitcoin could be a game changer for the cryptocurrency market.

Elon Musk, Chairman and CEO of Tesla Motors Inc., speaks in front of a Tesla Model S electric car. Photographer: Daniel Acker / Bloomberg

Of course, those endorsements have fueled the growing interest in cryptocurrency investing so much that the price of Bitcoin soared to around $ 44,200 just hours after the announcement. Tesla also benefited as its shares rose more than 2% on Monday morning. However, Tesla warned its customers that cryptocurrency, especially Bitcoin, is volatile.

Tesla may be one of the first heavyweights to take an interest in Bitcoin, but it certainly won’t be the last. Bitcoin interest is higher than ever. Companies like PayPal, Fidelity Investments and Square now enable their customers to participate in the digital assets.

More predictions as Tesla invests $ 1.5 billion in Bitcoin:

“I think we’ll see an acceleration in companies looking to allocate bitcoin after Tesla takes the first step.”

“One of the largest companies in the world now owns Bitcoin, and in a broader sense, any investor who owns Tesla, or even just an S&P 500 fund, has Bitcoin too.”

Eric Turner – VP of Market Intelligence at Messari.

Bitcoin has the potential to open up the world and bring all (at least virtual) employees to the same platform. Where a Bitcoin is always a Bitcoin and people are paid in Bitcoin, they know what that means … “

Justin Sun, Founder and CEO of TRON and CEO of BitTorrent and Peiwo

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