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Tesla buys $1.5bn in bitcoin and plans to accept it as payment

 

Tesla has bought $1.5 billion worth of bitcoin, according to a filing with the SEC.

 

The company said it bought bitcoin for “more flexibility to further diversity and maximise our returns on cash”. In addition to the purchase, the electric car company headed by crypto-advocate Elon Musk, said it would also start accepting bitcoin payments in exchange for its products.

 

Since the announcement, the price of bitcoin has catapulted to a new all-time high of more than $47k at the time of writing.

 

It can’t really be said that the news came out of the blue, given Musk’s recent decision to put Bitcoin in his bio. There was also a Twitter exchange in December of last year between Musk and Michael Saylor that certainly hinted at the move:[/vc_column_text][vc_row_inner css=”.vc_custom_1452700243026{margin-bottom: 39px !important;}”][vc_column_inner width=”1/2″][vc_column_text]

  • Growth through innovation/creativity:
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  • Higher business values:
    The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
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