The Strategist

Bitcoin updats record after Tesla's $1.5B investment

02/09/2021 - 08:53

Bitcoin quotations on online exchanges soared by more than $5 thousand immediately after it became known that Elon Musk's Tesla invested in the cryptocurrency.

The weighted average rate of Bitcoin, according to Coindesk, reached $44.8 thousand, which was a new all-time high for the digital currency.

The electric car maker invested $1.5 billion in Bitcoin last year and does not rule out that it will continue to purchase the digital currency in the future. 

That's according to an annual report filed by the company with the U.S. Securities and Exchange Commission (SEC).

"In January 2021, we updated our investment policy to give us greater flexibility to further diversify and maximize our cash returns that are not required to maintain adequate operating liquidity," Tesla said in the report. We have since invested a total of $1.5 billion in Bitcoin under this policy and may acquire and hold digital assets from time to time or over the long term".