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Bitcoin surged anew on Monday when Elon Musk electrified its prospects by pledging Tesla Inc would soon take payment for its electric vehicles in the currency and revealed it had already bought $1.5 billion worth of it.
Tesla announced it invested $1.5 billion in Bitcoin in its annual report filed with the Securities and Exchange Commission, prompting the cryptocurrency to rise to an all-time high on Monday.
Tesla Inc said on Monday it had invested around $1.5 billion in bitcoin and expected to begin accepting payment for its cars and other products with it in the near future, prompting a more than 10 per cent jump in the electronic currency.
The cryptocurrency surges 17% as Tesla also said it could start accepting Bitcoin as payment.
The announcements, buried deep in Tesla’s 2020 annual report, drove a 16 per cent surge in the world’s most widely held cryptocurrency.