Elon Musk-owned car manufacturer Tesla has announced that it will begin accepting Bitcoin as a form of payment, according to and SEC filing.
The filing also states that Tesla has purchased $1.5 billion worth of the cryptocurrency, with the news sending Bitcoin to a new all-time high of $44,000.
Musk now joins the likes of Michael Saylor and Jack Dorsey in purchasing a large block of Bitcoin, with Saylor putting $1.4 billion of MicroStrategy’s balance sheet into Bitcoin earlier this year.
The filing, which comes one week after Musk changed his Twitter bio to “Bitcoin” when the price was at $32,000, goes on to state that TEsla “may acquire and hold digital assets from time to time or long-term”.
“We invested an aggregate $1.50 billion in bitcoin under this policy.” The statement continued. “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.”
During Bitcoin’s 11-year history its use case as a means of payment has always suffered due to its perceived volatility, however a company as large as Tesla endorsing it may begin to quash those fears.
For more news, guides and cryptocurrency analysis, click here.
[…]
Learn more
The defunct cryptocurrency exchange Mt. Gox is making waves again, this time with huge Bitcoin…
Lightning Labs, a leading developer in Bitcoin's Lightning Network ecosystem, has launched a groundbreaking protocol…
According to onchain data, a significant whale holding over 92,500 ether moved the funds to…
🛸Inspired by the internet's favorite extraterrestrial, Skinny Bob MemeCoin is revolutionizing the cryptosphere across multiple…
NFTs, or non-fungible tokens, are transforming various industries, including art, music, sports, and real estate.…
Proton Technologies AG, the Swiss company renowned for its encrypted email and VPN services, has…
Leave a Comment