Elon Musk’s Tesla Inc said it acquired $ 1.5 billion bitcoins in January and that it is the No. The world could accept 1 digital asset for future payment

Tesla
TSLA,
207%
The purchase was announced on Monday in a filing for filing with the Securities and Exchange Commission that helped raise Bitcoin prices
BTCUSD,
1351%
to around 44$ 203, a gain of over 13% in early trading on CoinDesk

In January 2021, we updated our investment policy to give us more flexibility to further diversify and maximize the return on our cash that is not required to maintain adequate operational liquidity Tesla said in a 10-K filing to the US. Market regulator

â ???? In addition, we assume that in the near future we will accept Bitcoin as payment for our products, subject to applicable laws and initially to a limited extent, which we may or may not liquidate upon receipt on???? Submission continued

The move comes as Musk has recently been a vocal advocate of digital assets on his social platforms

At the end of January, Musk tagged the cryptocurrency on his Twitter bio and then added the hashtag #bitcoin to his Twitter bio Then he tweeted: “In retrospect, this was inevitable ???? And earlier this month Musk tweeted “Dogen” without further comment with reference to the Digital Asset Meme Asset Dogecoin

Tesla is one of the larger companies that invests in bitcoins and allows payments via the digital asset, which was only created in 2009

“While many on the streets have discussed the prospects for that move for Tesla, this morning’s news formalizes Musk and Tesla’s strategy of delving into the deep end of the pool of bitcoin and crypto”wrote Wedbush analyst Dan Ives in a research report on Monday

However, other mainstream companies have started making headlines focusing on their interest in bitcoins and making virtual assets a part of their balance sheets

The software company MicroStrategy was already in 2020
MSTR,
1470%
said it was a leap in confidence when it invested in bitcoin in September 2020 21Collect 454 bitcoins worth $ 250 million at the time and use the coin as reserve assets for the company, according to an August 11 announcement, reported CoinTelegraph

Microstrategy’s move has raised the question of whether other companies could consider investing some of their reserve assets in Bitcoin

???? Ultimately, investors and other industry watchers will be watching this closely to see if other companies on this crypto path are following Tesla’s lead or, on the other hand, if there are few names that make up this strategy jump around Bitcoin? Ives wrote

A record rally in Bitcoin was largely attributed to interest from institutional investors and corporations in PayPal Holdings Inc
PYPL,
473%
His cryptocurrency platform opened for all U in NovemberS. Customers after a closer rollout

Bitcoin’s price gains, according to investment experts, are also drawing attention to the asset as a run-up in the Dow Jones Industrial Average
DJIA,
048%
 and the S&P 500 index
SPX,
048%
Have market participants been concerned about high valuations of stocks with interest rates around or around 0%?

Bitcoin prices are up 50% so far in 2021, while the S&P 500 has gained 35%, the Dow has gained 18% year-to-date, while the tech-rich Nasdaq Composite Index
COMP,
070%
Gold prices were up 7 So far 5% this year
GC00,
147%
are down 35% so far this year

Several high-profile Wall Street investors, including Stanley Druckermiller and Paul Tudor Jones, have chosen Bitcoin Famous investor Bill Miller, founder of Miller Value Partners, reiterated in a letter to customers posted on the website earlier this month The company released its bullish outlook on Bitcoin

Mark DeCambre is MarketWatch’s market editor. He lives in New York. Follow him on Twitter @mdecambre

Bitcoin Price, Tesla Bitcoin

World News – FI – Musk’s Tesla says it has invested $ 1.5 billion in bitcoin, bringing the cryptocurrency to record levels close to 44$ 000 is brought

Source: https://www.marketwatch.com/story/tesla-says-it-has-invested-1-5-billion-in-bitcoin-prices-surge-to-record-above-42-000-11612790314