Tesla Purchases $1.5 Billion in Bitcoin, Prices Hit a Record High and Climbing

Tesla and SpaceX founder Musk has escorted Bitcoin many times recently, and his words and deeds have stimulated the cryptocurrency market, and he also set out to buy 1.5 billion US dollars of Bitcoin in January this year. After the news came out, Bitcoin immediately bounced up by nearly 10%, surpassing the $40,000 mark, and hitting a record high.

Musk revised his profile on Twitter at the end of January and added the Bitcoin mark, which has increased the market value of Bitcoin by more than 100 billion US dollars at the moment. The market had speculated at that time whether Musk would join this cryptocurrency feast, and according to Tesla’s submission to the US Securities and Exchange Commission today, the rumors were finally confirmed. The document indicated that the company’s investment strategy was changed in January, and the cumulative purchase of $1.5 billion in bitcoins without affecting daily operating funds. At the same time, the company is also aware that the price of Bitcoin is quite volatile, and the declaration may not be able to cash out when needed.

In addition to using funds for investment, Tesla also stated that it may allow consumers to use Bitcoin to buy the company’s products in the near future. This move will undoubtedly be a boost for the cryptocurrency market because on a global scale, it is rare that listed companies accept cryptocurrencies as trading units. After the news came out, Bitcoin reached a high of 47,110.75 US dollars. As for Tesla’s stock price rose 2.6% before the market, to $874 US dollars per share.

At present, Musk can be described as a beacon of global investors, especially in the cryptocurrency market. A simple Twitter statement is enough to mad the entire market. For example, at the beginning of February, he claimed to support Dogecoin , which has stimulated its price to rise by 1.5 times, and today it rose by nearly 30% to $0.076. The market value has become the 10th largest cryptocurrency in the world. He once pointed out that when Dogecoin becomes a global currency, it will be the most entertaining and ironic thing.