24. May 2024
Tesla buy Bitcoin

Tesla buys Bitcoin for $ 1.5 billion – and offers BTC payment

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After a number of assumptions, it is clear: Elon Musk is buying Bitcoin through Tesla. This is not a small sum, but a whopping $ 1.5 billion. Today’s announcement lets the Bitcoin price rise by more than 10% and helps to a new all-time high.

Tesla buys Bitcoin for $ 1.5 billion

We recently reported that Elon Musk (CEO of Tesla) showed his affection for Bitcoin via Twitter. The Bitcoin price had already risen because Elon Musk added the hashtag #bitcoin to his Twitter profile (which he has already removed).

On the basis of this, it was assumed that the CEO could invest in cryptocurrency himself or through his company Tesla. As of today it is clear that Tesla has been investing in Bitcoin since January of this year. This news hit like a bomb and catapulted the Bitcoin price to a new record high. The Bitcoin price rose to over 44,000 US dollars and thus reached a new all-time high.

The published report for the SEC shows that the electric car pioneer has invested a whopping 1.5 billion US dollars in the number 1 cryptocurrency.

Tesla wants to enable Bitcoin payments

But not enough of the positive news. Electric car manufacturer Tesla also wants to enable payments with Bitcoin. With this, Musk once again fired the market and helped to achieve a new all-time high.

Tesla also announced that they wanted to change investment policy. In the future, cash stocks that are not used immediately should be invested in a more flexible and diversified manner. Assets such as physical gold, but also cryptocurrencies, come into consideration.

First hints of a billion dollar purchase

Elon Musk is very active on Twitter and sometimes uses the range for fun, at least you get that feeling now and then. So you never know if he’s really serious or just having a joke.

At the end of December 2020, Elon Musk asked on Twitter whether it would be possible, for example, to invest 100 billion dollars in Bitcoin. One user wrote that he had already bought Bitcoin for $ 1.3 billion and would like to provide Musk with more information.

It seems like it has borne fruit.

The beginning of something big

This billion dollar purchase could just be the beginning. After all, Tesla could invest significantly more in Bitcoin. However, that’s not all. Tesla is now a large corporation and could encourage other companies to accept Bitcoin payments. Tesla likes to be the pioneer, and not just in car manufacturing. So this purchase could set off an avalanche.

It has long been suspected that institutional investors do not just want to buy Bitcoin, but that companies would also store part of their assets in Bitcoin. Tesla seems to have taken the first step.

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