Bitcoin Prices Soar After Tesla Reveals
$1.5 Billion Stake in Cryptocurrency .
On Monday, Bitcoin’s price soared 15 percent
higher, spiking at around $44,000.
The cryptocurrency’s sharp jump was due
to Tesla’s same-day announcement that it had
bought $1.5 billion worth of Bitcoin. .
In a filing with the Securities and Exchange Commission,
Tesla said they did so to create “more flexibility to
further diversify and maximize returns on our cash.” .
Tesla also said that in the future, they “expect” to invest
in digital assets and accept Bitcoin as a form of payment. .
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. , Tesla, via CNBC.
According to Wedbush analyst
Dan Ives, Tesla’s investment will have
a “ripple effect” across the globe. .
[Their stake] will have a ripple effect
across corporations around the
global … [It is a] potential game
changing move for the use of bitcoin
from a transactional perspective, Dan Ives, via CNBC.
Tesla’s investment is just the latest sign that
cryptocurrency is becoming widely embraced. .
Fidelity Investments, Square and PayPal
announced last year that they would allow their
customers to utilize the digital asset.