Bitcoin broke a new all-time high as Tesla revealed through a filing with the SEC that they have invested $1.5 billion in Bitcoin, and are planning to accept BTC as a form of payment in the future.
Elon Musk’s Tesla has revealed through a fresh filing with the Securities and Exchange Commissions (SEC) that they have invested $1.5 billion in Bitcoin. The company also confirmed that they expect to begin accepting Bitcoin as a form of payment for their products in the near future.
Tesla wrote in the filing:
“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…Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future…”.
To find the entire SEC filing by Tesla please click the link below:
In mere minutes, Bitcoin instantly rose from $39k to a new all-time high of $44,9k at the time of writing, growing over +14% on the news. This instant market reaction underscores the monumental nature of Tesla going public with their Bitcoin purchases, which cannot be understated.
The move is a game changer for the entire crypto industry, as the world’s wealthiest man Elon Musk and one of the world’s largest and most futuristic companies under his leadership have made it official that Bitcoin is part of their balance sheet.
Moreover, the fact that Tesla is planning to accept Bitcoin as a form of payment in the near future for their products increases the belief in BTC as a form of payment for goods and services worldwide. This in turn makes it more plausible for other companies to follow Tesla’s lead, which would make BTC accepted as a currency and payment on a more mainstream and broader level globally than it is today.
Director of Communications at Klever.io