| UPDATED: 12:48, Wed, Feb 10, 2021 Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they'll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. Billionaire entrepreneur Elon Musk sparked a Bitcoin frenzy this week after his company Tesla bought $1.5billion's (£1.1billion) worth of the cryptocurrency. In a stock market filing, Tesla said it has "updated its investment policy" and is therefore looking to invest in "reserve assets" such as digital currencies, gold bullion or gold exchange-traded funds. The shock move drove the value of Bitcoin up to record highs after a turbulent month in January. Its value is now approaching the $50,000 (£36,000) mark, with the price currently sitting at around $47,000 (£34,000).