Tesla bought $1.5 billion worth of Bitcoin

[NelsonG]

Elon Musk wasn't playing when he recently changed his Twitter bio to "#bitcoin."

According to a SEC filing by Tesla, the company has purchased $1.5 billion worth of Bitcoin. 

"In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity," the filing reads.

"As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. 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 longterm." Read more...

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[Rachelwjd]

It's the big boom I was waiting for.

[Juliasvrm]

Oh goood, Tesla is making big moves I see. Honestly, I'm really impressed by how popular Bitcoin has become. I remember the year it only appeared. I thought it was a cool idea but never really considered it would get this far. You know, a lot of people like the old-fashioned way more. I love seeing big companies promoting this kind of things, it's making the population alert of the newer and more innovative technologies in our lives. Recently, I even saw an online casino that's using bitcoin. I hope that in the next years it will become more popular and used.

Edited May 18, 2021 by Juliasvrm