NEW YORK (AP) — Tesla has acquired round $1.5 billion in Bitcoin beneath an funding coverage on the electrical automobile maker headed by Elon Musk, and it plans to start accepting the digital foreign money as cost for automobiles quickly.
The California firm revealed the brand new technique in a submitting with the U.S. Securities and Alternate Fee early Monday, saying its funding in digital foreign money and different “various reserve property” might develop.
Bitcoin spiked 14% and appeared to briefly hit a brand new all-time excessive. Shares of Tesla moved increased as effectively.
In its fourth quarter earnings report final month Tesla stated it had money and money equivalents of $19.4 billion.
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