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Bitcoin Prices Skyrockets After Tesla Joins The Fray

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Elon Musk’s Tesla Inc. said that it has acquired $1.5 billion in bitcoins in January and that it could accept the world’s No. 1 digital asset for payment in the future, Marketwatch reported. Tesla TSLA, +1.31% revealed the purchase in a regulatory filing with the Securities and Exchange Commission today, which helped to drive up bitcoin prices BTCUSD, 3.98% to around $44,203, a gain of over 13% in early trade on CoinDesk. “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,” Tesla said in a 10-K filing with the U.S. markets regulator.

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