Bitcoin (BTC) jumps to ATH after Tesla invested in BTC
An abrupt spike of more than $43,000 showed up as information on Tesla's arrangements streamed in. A document with United States controller the Securities and Exchange Comission (SEC) shows that the organization has purchased $1.5 billion worth of Bitcoin.
Statement from Tesla: "In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds, and other assets as specified in the future," it states.
"Thereafter, we invested an aggregate $1.5 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."
The move follows empowering signs from CEO Elon Musk, the world's most extravagant man, who a week ago straightforwardly expressed that he was an "supporter" of Bitcoin. From that point forward, notwithstanding, signals have been blended after Musk eliminated Bitcoin from his Twitter account however kept tweeting and advancing Dogecoin (DOGE).
Statement from Tesla: "In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds, and other assets as specified in the future," it states.
"Thereafter, we invested an aggregate $1.5 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."
The move follows empowering signs from CEO Elon Musk, the world's most extravagant man, who a week ago straightforwardly expressed that he was an "supporter" of Bitcoin. From that point forward, notwithstanding, signals have been blended after Musk eliminated Bitcoin from his Twitter account however kept tweeting and advancing Dogecoin (DOGE).