Tesla bitcoin News update
Elon Musk shared a tweet on his Twitter account about Tesla bitcoin news.
Tesla discloses in a Securities and Exchange Commission (SEC) Monday that it has paid for $1.5 billion costs of bitcoin. Tesla company also announced that it would start accepting bitcoin as a payment method for its product & Service.
(CEO)Chief executive officer Elon Musk has been considering raising the prices of cryptocurrencies & bitcoin, through messaging on Twitter.
Tesla announced on Monday it has brought $1.5 billion increase in bitcoin. Tesla discloses in a Securities and Exchange Commission (SEC), the company said that they bought the bitcoin for ” more resilience further to expand and maximize return on our cash.”
Tesla also announced it will start accepting bitcoin in exchange for its product. subject to relevant laws on a limited basis. It will make tesla the first major automaker to do it. The $1.5 billion worth of bitcoin will give Tesla liquidity in cryptocurrency.
Tesla’s move into bitcoin represents an investment of a powerful percentage of its cash in the investment. The company has more than $19 billion in cash and cash commensurate on hand at the end of 2020, according to its most late filing.
The questions raise around CEO Elon Musk’s recent behavior on Twitter, where he has been credited for developing the prices of cryptocurrencies like bitcoin and dogecoin by posting conclusive messages that have encouraged more people to buy the digital currencies.
Two weeks ago, the Tesla owned added the hashtag #bitcoin to his Twitter bio, a move that helped to shortly push up the cost of the cryptocurrency by as much as 20%. Two days later, he announced clearly on the social medial chat site Clubhouse: “I do at this point think bitcoin is importance, and I am a supporter of bitcoin.”
Bitcoin prices climb high on Monday following Tesla’s announcement that reaching a price of at least $44,200. shares of tesla are up on Monday 2%.