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Breaking: Tesla Bought $1.5 Billion of Bitcoin – BTC Skyrockets to New ATH

In a massive turn of events for the entire Bitcoin community, Elon Musk’s Tesla has filed with the SEC, revealing that the company has bought a whopping $1.5 billion in Bitcoin this January.

  • The price of Bitcoin has surged to a new all-time high above $42,000 as an SEC filing revealed that Tesla has bought $1.5 billion of BTC in January.

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term.

  • This comes after the company’s founder, Elon Musk, put Bitcoin as the only word in his Twitter handle for a brief period of time. Interestingly enough, he also tweeted that “in retrospect, it was inevitable.”
  • Back then, BTC saw a massive surge which took its price from about $32,000 to above $38,000 in a matter of hours.
  • It appears that history is about to repeat itself. At the time of this writing, the price sits just shy of $43,000, having peaked to a new all-time high at $43,730 on Bitstamp.
BTC/USD. Source: TradingVIew
  • It’s also worth noting that the company “expects 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.

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About The Author

George Georgiev

Georgi Georgiev is CryptoPotato’s editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi’s passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn’t looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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