Bitcoin surges to record high on Tesla’s $US1.5b investment; Australian shares to slip

Australian shares are expected to open lower, despite US markets hitting new record highs on increased bets that US politicians will soon pass another COVID-19 stimulus package.

Bitcoin also surged to its highest levels ever after billionaire Elon Musk’s electric vehicle company Tesla revealed it had bought $US1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars.

Reporting season is also ramping up, with James Hardie, Suncorp, Boral, Dexus, Challenger and Computershare announcing their results today.