Elon Musk’s Tesla Invests $1.5 Billion in Bitcoin

Tesla Inc has invested $1.5 Billion in the most controversial cryptocurrency Bitcoin and has caused an all-time hike in Bitcoin. Bitcoin has jumped has 15% after Tesla Disclosed their investment, with prices exceeding $44,000 for the first time. Tesla has also said that they are going to start excepting digital currency as a form of payment for their electric cars. One of the most influential companies Tesla and Billionaire Elon Musk has shown their support for cryptocurrency which has been criticized by policymakers.

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Credit: NDTV

“The world’s richest man allocating $1.5 billion of his company’s treasury to Bitcoin speaks volumes about the magnitude at which crypto gains institutional adoption,” said Antoni Trenchev, managing partner and co-founder of Nexo in London. Antoni Trenchev said that they are expected by the end of 2022 at least 10% of S&P 500 companies will invest in Bitcoin.

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