Tesla Buys $1.5 Billion in Bitcoin
Tesla Inc. said Monday that it bought $1.5 billion in bitcoin, the electric-vehicle company also said it expects to start accepting bitcoin as payment for its products soon. Bitcoin prices jumped more than 10% after the announcement.
Tesla disclosed its bitcoin purchase in its latest annual report, saying the move aims to “diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.” Tesla said a board committee had approved changes to company rules on investments, adding that it can also invest cash in gold bullion and gold exchange-traded funds among other assets. The bitcoin purchase, likely among the largest by a public company, comes after a rally in 2020 when the price more than quadrupled. Tesla is joining a handful of other companies that have disclosed bitcoin holdings.
Tesla Buying Since December?!?
$75000 is a Realistic Target from here. According to TradingShot.
Bitcoin Charts by TradingShot via TradingView
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