TESLA & ELON MUSK BUYS BITCOIN $1.5 BILLION Investment Cryptocurrency News

The US Securities and Exchange Commission reports that Tesla has invested $1.5 billion in bitcoin, citing the interest for greater flexibility in diversifying and maximizing returns on its cash reserves.

This has prompted many people to rethink their relationship with cryptocurrency, its potential, and its future prospects.

According to Forbes, Tesla says it understands the volatility of the price of bitcoins but says it will begin accepting bitcoin payments for its vehicles, making it the first major car company to do so.

This is major news for a fortune 500 company as investors anticipate that other companies will soon join a list of firms that invest in or hold bitcoin.

Tesla is currently valued at around $820 billion and but this news means that Tesla stocks will continue to rise.

Bitcoin is the most prominent virtual currencies out there, and like Tesla, it has had a bit of a rollercoaster ride since its debut.

Starting late last year, the currency has gained serious traction with it now being at an all-time high.