General
Tesla’s $US1.5b bitcoin bet, Elon Musk’s enthusiasm send cryptocurrency prices to the moon
Bitcoin (the infamously volatile cryptocurrency) has surged to its most expensive levels ever, thanks to the world’s richest man.
Key points:
- The price of bitcoin has surged by more than 330pc in the past year
- PayPal, Square and Tesla are some of the big companies that have invested in crypto
- Tesla plans to accept bitcoin as a payment method “in the near future”.
Its price surged above $US44,000 ($57,112) overnight after Elon Musk’s electric vehicle company, Tesla, said that it had invested $US1.5 billion into the digital currency.
Tesla also revealed that is plans to accept bitcoin as a form of payment in the near future — the biggest vote of confidence the crypto market has received yet.
At current prices, it would cost around 0.88…
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