Tesla: invests 1.5 billion dollars in bitcoin
(CercleFinance.com) - Tesla has invested 1.
5 billion dollars in bitcoin and expects to begin accepting the digital currency as a form of payment for its vehicles "in the near future," the electric-car maker said on Monday.
In its annual report, Tesla said the investment is part of its strategy to put cash in certain specified alternative reserve assets and to diversify and maximize returns on its cash pile.
"We believe our bitcoin holdings are highly liquid," the Palo Alto-based company wrote in its 10-K filing.
"However, digital assets may be subject to volatile market prices, which may be unfavorable at the time when we want or need to liquidate them," it added, warning against a risk of loss.
The virtual currency jumped to a record of about 44,051 dollars on this news, up over 13% compared to Friday's close. Its value has now risen 10-fold compared to the beginning of 2019.
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