Since the past few days, the famous electric car company Tesla’s Chief Executive Officer (CEO) Elon Musk was speaking positively of Bitcoin (BTC), the biggest crypto in the world in terms of market value. Now, the company has made investment in the leading digital currency. A new SEC filing reveals that the company has acquired a massive amount of Bitcoin. This news has also boosted the price value of the coin to a new all-time high value.
An Investment Of $1.5 Billion In Bitcoin
As per Tesla’s filing with the Securities and Exchange Commission (SEC), the company has invested an amount of $1.5 billion in the top-ranked digital currency Bitcoin. With this investment, the e-car manufacturer company has become the first-ever S&P 500 firm to make an investment in the flagship cryptocurrency.
Tesla has also claimed that it might plan to invest a part of its cash into cryptocurrencies, ETFs (Exchange Traded Funds) backed by gold, and gold. The company said that it has updated its investment policy in the previous month. This investment migh be a part of its updated investment policy.
Bitcoin reaches its All-Time high $43,978
Every piece of news that is coming from the company Tesla is influencing the price value of Bitcoin in an extremely positive way. This news of the investment of Tesla into Bitcoin has pumped up the price value of the first-ranked digital currency as the coin has recorded a new all-time high value today on the 8th of February.
Shortly after the news, the price value of BTC reached the figure of $43,978 within the duration of no time which is the new all-time highest value for the leading digital currency. It has posted a price rally of more than 12 percent within the time frame of 24 hours to reach this price mark. It is currently standing above the figure of $43,600, at the time of writing, and is up by more than 11 percent, as per the data from CoinMarketCap. The current positive momentum of the coin shows that it is still going up and may break the figure of $45k in the next couple of days.
When Tesla CEO Elon Musk updated his bio and included Bitcoin into it, the price of the coin went up at that time too. The same has happened once again but this time the coin has surged high to its new all-time high value.
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