Name: Bitcoin Soars To New High After Tesla Says It Invested $1.5 Billion
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Bitcoin Soars To New High After Tesla Says It Invested $1.5 Billion

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BETAThis is a BETA experience. You may opt-out by&nbsp;Feb 8, 2021,New!Got it!Electric car giant Tesla announced in a filing with the Securities and Exchange Commission on Monday that it has invested $1.5 billion in bitcoin this year and said it plans to start accepting bitcoin as payment for its products, sending the price of the popular cryptocurrency soaring to a new high, above $43,000.Tesla said the bitcoin purchase happened under an updated investment policy designed to “provide us with more flexibility to further diversify and maximize returns on our cash.”Tesla CEO Elon Musk has been a vocal proponent of digital currencies on social media, and this month sent the price of dogecoin up after a series of tweets in support of what he called “the people’s crypto.”&nbsp;When Musk added the hashtag #bitcoin to his Twitter profile at the end of January, the price of the digital asset surged more than .In the filing, Tesla warned investors of the “highly volatile” nature of digital assets and the still-developing regulatory framework surrounding that market."I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people,” Musk said on Clubhouse earlier this month, .&nbsp;Bitcoin started the year with a massive rally, reaching all-time highs of more than $40,000 in early January before plunging back down on reports of heightened regulatory scrutiny and bearish calls from analysts. After dropping to $30,534 at the end of January, the price of bitcoin has been steadily climbing for the last two weeks.Regulators in the new Biden Administration have their eyes on crypto. Treasury Secretary Janet Yellen has said cryptocurrencies like bitcoin are “” because of how they could be used to finance illicit activities like terrorism.(Forbes)(Forbes)(Forbes)(Forbes).&nbsp;.&nbsp;

BETAThis is a BETA experience. You may opt-out by&nbsp;Feb 8, 2021,New!Got it!Electric car giant Tesla announced in a filing with the Securities and Exchange Commission on Monday that it has invested $1.5 billion in bitcoin this year and said it plans to start accepting bitcoin as payment for its products, sending the price of the popular cryptocurrency soaring to a new high, above $43,000.Tesla said the bitcoin purchase happened under an updated investment policy designed to “provide us with more flexibility to further diversify and maximize returns on our cash.”Tesla CEO Elon Musk has...

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Senior writer @money. Formerly @forbes. Trained by @northwesternu and @nyu_journalism.

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Bitcoin Soars To New High After Tesla Says It Invested $1.5 Billion

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