OPINION: It was the moment that bitcoin enthusiasts had been waiting for. On Monday morning, the internet’s favourite billionaire Elon Musk announced that electric carmaker Tesla had purchased US$1.5b in the cryptocurrency, sending the digital asset skyrocketing to an all-time high. The EV giant’s purchase of bitcoin, “to diversify and maximise returns on our cash”, has been hailed as a seminal moment for cryptocurrency markets as the value of the digital coin soared to more than US$47,000 earlier this week. Following a year in which bitcoin’s value more than quadrupled, Musk’s seal of approval has put the currency firmly in the mainstream. Yet concerns linger that the latest surge is nothing more than a speculative bubble like in 2017-2018, when the asset increased more than five-fold only to collapse.
Bitcoin jumps to record US$44,000 as Tesla invests US$1 5B bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Elon Musk's Tesla Inc. announces that it acquired $1.5 billion in bitcoins in January and said it could accept the world's No. 1 digital asset for payment in the future.
Bitcoin surged to an all-time high after Tesla Inc. said it’s invested $1.5 billion, the biggest endorsement of the controversial cryptocurrency by a mainstream company.