The US-based large electric car manufacturer Tesla said it had invested a total of USD 150 billion Bitcoin (BTC) and expects Bitcoin to be accepted as payment for our products in the near future “(Updated at 13:35 UTC: updates throughout text Updated at 14:03 UTC with liquidation dates, comments and Google Trends data : 37 UTC: updates throughout text)

In a filing with the US Securities and Exchange Commission, the company announced that it updated its investment policy in January 2021 to give us more flexibility to further diversify and maximize the return on our cash, which are not required for adequate maintenance of operating liquidity “

They may acquire and hold digital assets from time to time or over the long term, according to Tesla, the company announced that it ended 2020 at $ 1938 billion in cash

“We believe our Bitcoin holdings are very liquid, however digital assets can be subject to volatile market prices which can be inconvenient at the time we want or need to liquidate them,” the company said
As for accounting, the automaker said the cost base of the digital assets will not be adjusted upward for subsequent price increases on the active exchanges “Profits (if any) are not recognized until they are realized on sale” they added

For 2020 Tesla reported a consolidated profit of 862 million USD to around USD 315 billion Revenue up from $ 246 billion Sales and 775 million USD loss in 2019

According to the news, BTC hit its new all-high of 43USD 878 per coin checko data At the time of writing (15:36 UTC), BTC is trading at USD 43560 and is up more than 15% in a day and 32% in a week.It is up 345% in a year.Tesla stock also rose 3% in its first hours of trading today.As reported, Tesla was one of the two S&P 500 Listed Companies That Outperformed BTC in 2020

Meanwhile, in the past four hours, BTC short positions valued at nearly USD 713 million liquidatedcom data Crypto exchanges like Kraken, Gemini, Binance, and Coinbase reported technical problems when traders stormed these platforms after Tesla’s news

Last week, Tesla founder Elon Musk said that BTC was on the verge of gaining widespread adoption among “conventional financiers” “

“Elon Musk, who shimmers DOGE and then buys Bitcoin, is similar to the delicious BTC price predictions from Guggenheim’s Minerd He shared a bombastic goal of 400$ 000, the price broke and the fund could only buy”half as much BTC so he said everything was overbought Sure, we love it when big names adopt digital assets, but we love it even more when you [do your own research] because Bitcoin was never about entertainment “said Antoni Trenchev, co-founder and managing partner of major crypto lender Nexo said in a comment sent via email

“Tesla and Bitcoin” the archetypes of volatility â ???? inevitably see them again because they are tools born of frustration and courage, to paraphrase the old adage frustration with the state of things and the courage to make sure that they don’t stay as they are he added

According to Dermot O’Riordan, partner at Eden Block, a European venture capital firm specializing in blockchain technology, “the whole of Wall Street now seems to be in bed with the [crypto] industry – if they weren’t? ” I wasn’t paying attention before, now “

“Bitcoin and Ethereum seem to be inevitable growth stories since the spike in COVID household spending, DeFi summer and ETH 20 start I spend a lot more time thinking about what the future holds for [centralized exchange / decentralized exchange] Tokens, on-chain lending, asset management, cross-chain infrastructure, NFTs, Web 3 assets, algorithmic stablecoins, and other new applications that we have not yet envisioned, “he said in his newsletter today
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I’ve been a #bitcoin’er for almost 10 years and this is one of the few times that a new story has actually shocked me #Tesla

Rarely one to make price predictions, but there is from now on a valid case for a 2X or more

#Bitcoin will be at 4 in about 15 minutes$ 000 up in total, it was 4 last yearWorth $ 000

Tesla buys 1 # Bitcoin worth 5 billion is the shot heard worldwide for fiat currencies

Can you please develop a global solution to reduce carbon emissions with a billionaire inflating #Bitcoin? https: // tco / ylBRuDsGLQ

Tesla buying bitcoin is a big blow to the “bitcoin is boiling the oceans” Narrative will force a lot of people https: // tco / xgTqCSyXi2

___Learn more: 1400 companies flock to learn more about Bitcoin, but “There’s No Game Book” Elon Musk Deconstructs Money, Urges Bitcoiner to Think About the Importance Bridgewater’s Ray Dalio Sends Stronger Bitcoin Signal As Trillions “Melt” into Treasuries, Expected that the Bitcoin snowball will hit more institutions in 2021 Bitcoin wheel cannot be stopped Morgan Stanley Exec Says Bitcoin Comes To Top 10 For US Dollar Re-Entry

BTC, Tesla Bitcoin

World News – CA – Tesla buys USD 1Bitcoin worth 5B, could accept BTC as payment (UPDATED)

Source: https://cryptonews.com/news/tesla-buys-usd-1-5b-worth-of-bitcoin-to-accept-btc-as-paymen-9161.htm