Culture

Tesla Purchases $1.5 Billion USD in Bitcoin, With Plans To Accept Cryptocurrency Payment

Elon Musk boosts the digital currency to a record high once again.

By
1,367 Hypes

Tesla Purchases $1.5 Billion USD in Bitcoin, With Plans To Accept Cryptocurrency Payment

Elon Musk boosts the digital currency to a record high once again.

Bitcoin, one of the most-talked-about cryptocurrencies alongside Dogecoin, has now reached an all-time high, thanks to Elon Musk once again. The entrepreneur’s electric car company Tesla has purchased $1.5 billion USD in Bitcoin, leading to a sharp increase.

In addition to the purchase, Musk also revealed that he is considering accepting Bitcoin as payment. A filing with the U.S. Securities and Exchange Commission reveals that Tesla has “updated [its] investment policy to provide more flexibility to further diversify and maximize returns.” The company added: “We expect 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.”

Over the past few months, Bitcoin has seen multiple boosts with support via Musk’s tweets and an interview on Clubhouse. “I do think at this point bitcoin is a good thing, and, so, I am a supporter of Bitcoin,” he commented in an audio chat on the invite-only app. “Like I said, I was late to the party, but I am a supporter of Bitcoin. And I think, Bitcoin is really on the verge of getting broad acceptance by conventional finance people.”

Following Tesla’s purchase, the popular cryptocurrency reached more than $47,000 USD, which is 300 percent higher than the price this time last year.

Read Full Article
Source
Bloomberg
Share this article

What to Read Next

5 At-Home Gel Manicure Kits That Will Make You a Pro
Beauty 

5 At-Home Gel Manicure Kits That Will Make You a Pro

These at home treatments paired with YouTube university will be all you need.
2,087 Hypes

Demi Lovato Explains Why She Went Back To Using She/Her Pronouns
Entertainment

Demi Lovato Explains Why She Went Back To Using She/Her Pronouns

The singer updated her pronouns in May.
18,566 Hypes

Valentine's Day Comes Early With the Latest New Balance 550
Footwear

Valentine's Day Comes Early With the Latest New Balance 550

20,286 Hypes


What to Do When a Condom Slips off Inside of You
Sex & Dating

What to Do When a Condom Slips off Inside of You

Tune in for a lovely visual.
16,351 Hypes

Halsey's about-face Drops "Anti-VDay" Lipstick Range
Beauty

Halsey's about-face Drops "Anti-VDay" Lipstick Range

An ode to self-love and unconditional self-acceptance.
2,612 Hypes

Nike's Offline Mule Gets a Bright "Team Orange" Update
Footwear

Nike's Offline Mule Gets a Bright "Team Orange" Update

A WFH essential for the upcoming spring season.
4,463 Hypes

AMBUSH Unveils Its First-Ever Campaign for SS21
Fashion

AMBUSH Unveils Its First-Ever Campaign for SS21

Inspired by modern Japanese architecture.
2,497 Hypes

Stussy x Nike Revive Their Collaborative Air Huarache LE Sneaker
Footwear

Stussy x Nike Revive Their Collaborative Air Huarache LE Sneaker

The drop will be accompanied by co-branded sweat sets.
10,479 Hypes

UNIQLO Taps Musée du Louvre for Collaborative UT Collection
Fashion

UNIQLO Taps Musée du Louvre for Collaborative UT Collection

Featuring historical masterpieces like the ‘Mona Lisa.’
12,054 Hypes

Wildflower's Devon Lee and Sydney Carlson Drop "Bear-y Cute" iPhone Cases
Tech

Wildflower's Devon Lee and Sydney Carlson Drop "Bear-y Cute" iPhone Cases

The sisters pose side by side in a Valentine’s Day-themed campaign.
5,800 Hypes

Period Sex 101: Everything You Need To Know About Getting Intimate While Menstruating
Sex & Dating

Period Sex 101: Everything You Need To Know About Getting Intimate While Menstruating

Doctors and sex educators debunk misconceptions about period sex and provide tips for a mess-free experience.
95,254 Hypes

Watch the Best Super Bowl 2021 Commercials Starring Drake, Timothée Chalamet and More
Film & TV

Watch the Best Super Bowl 2021 Commercials Starring Drake, Timothée Chalamet and More

Companies including State Farm, Cadillac and Uber Eats made headlines with noteworthy new ads.
3,140 Hypes

Apple Is Working on a Fix for Fraying Charging Cables
Tech

Apple Is Working on a Fix for Fraying Charging Cables

The company is expected to release a more durable version of its Lightening chargers.
1,233 Hypes


More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.