Business
Bitcoin skyrockets to a new all-time high after Tesla invests $1.5 billion in the popular cryptocurrency
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Tesla Inc (NASDAQ: TSLA) made a game-changing disclosure on Monday.
The electric-vehicle (EV) leader purchased $1.5 billion worth of bitcoin (CRYPTO: BTC) in a move that could bring legitimacy to the digital currency markets and pave the way for more companies to adopt the cryptoasset as a key part of their treasury-management strategies.
Other public companies have begun to convert some of their cash reserves into bitcoin in recent months. Up until today, MicroStrategy Incorporated (NASDAQ: MSTR) has led this charge. The business intelligence specialist has allocated more than $1 billion to bitcoin purchases since…
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