Elon Musk bets on Bitcoin with a 1.5B investment

Tesla is making a big bet on bitcoin, saying it can soon accept digital currency as a payment for its cars. And the most valuable auto company on the stock market has said it keeps its coffers in bitcoin rather than the traditional currency. Presented annually to the Securities and Exchange Commission, Tesla said it hopes to “start accepting bitcoin as a payment for our products in the near future … initially in a limited way, whether or not we can settle the receipt.” In addition, Tesla said it has so far invested $ 1.5 billion as part of its decision to “invest part” in bitcoin [the company’s] “Tesla lists $ 19 billion in cash and cash equivalents on its balance sheet as of December 31. The announcement gives the cryptocurrency a new dose of legitimacy: the price of bitcoin rose 12% in the morning trading news. Tesla shares rose 2% in early trading. #CNNBusiness #Quest #ElonMusk.

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