The crypto markets are a sea of green to start the week as electric car giant Tesla announces it has bought $1.5 billion worth of Bitcoin.
In a new filing with the U.S. Securities and Exchange Commission, Tesla revealed it also plans to accept BTC as a form of payment for its fleet of vehicles.
Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, 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, which we may or may not liquidate upon receipt.”
Musk recently declared that after years of consideration, he is now a supporter of the world’s top cryptocurrency.
He has also boosted the meme cryptocurrency Dogecoin (DOGE) during its volatile move from $0.01 to a high of about $0.08.
Musk has said little about the second-largest cryptocurrency Ethereum, aside from confirming in July of last year that his company is not building on the smart-contracts blockchain.
Bitcoin is at $44,083 at time of publishing, up 14.45% in the last 24 hours according to CoinMarketCap. Ethereum is up 11.12% at $1,746.