Tesla Buys $1.5 Billion In Bitcoin; Company Will Soon Accept Bitcoin For New Car Payments

Fremont CA

08 February, 2021

4:41 PM

Description

CBS San Francisco February 8, 2021 NEW YORK (CBS SF/AP) — San Francisco Bay Area automaker Tesla announced Monday it has acquired around $1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for vehicles soon. The electric car maker headed by Elon Musk revealed the new strategy in a filing with the U.S. Securities and Exchange Commission early Monday, saying its investment in digital currency and other "alternative reserve assets" may grow. Bitcoin spiked 14% and appeared to briefly hit a new all-time high. Shares of Tesla moved higher as well. Read more at CBS San Francisco