Elon Musk's Tesla Buys $1.5bn Worth Of Bitcoin - EazyFeeds

EazyFeeds

Trending News / Gist at Your Finger Tips

Latest News

Tuesday 9 February 2021

Home Business Elon Musk's Tesla Buys $1.5bn Worth Of Bitcoin

Elon Musk's Tesla Buys $1.5bn Worth Of Bitcoin

 



Elon Musk's car production firm, Tesla has bought about $1.5bn (£1.1bn) of cryptocurrency Bitcoin, causing the price of Bitcoin to jump 17% to $44,220, a record high.


 


Tesla also announced that the company will start accepting bitcoin as payment for it's products in the nearby future as the company was trying to maximise returns on cash that is not being used in day-to-day running of the company.



The move by billionaire Musk, comes days after Musk added "#bitcoin" to his Twitter profile page, another move that drove up the price.



Musk regularly talks up Bitcoin and other cryptocurrencies, including Dogecoin, currencies he has endorsed.



In a stock market filing on Monday, February 8, Tesla said it "updated its investment policy" in January and now wanted to invest in "reserve assets" such as digital currencies, gold bullion or gold exchange-traded funds.



Tags
Author Image

About Editor
EazyFeeds Blog is an Online Media Outlet Dedicated to Bringing You First Hand Information, Trending News And Gist At Your Finger Tips. We Believe In Feeding Our Audience with Undiluted Information and Real-Time News Headlines as It Breaks. We Carefully Source Out For Our Media Feeds so as to Deliver Swiftly and Prompt to Your Nourishment Online Stay Connected With Us on Social Media 24/7

by at
Tags

No comments:

Post a Comment

Feel Free To Leave A Comment

Subscribe to: Post Comments (Atom)
'; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })();