Bitcoin reaches a new record price because of Tesla

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Bitcoin reaches a new record price because of Tesla
Image Source@Al-Qabas

Bitcoin jumped to an all-time high on Monday, after Tesla said it bought $ 1.5 billion worth of cryptocurrency in January.

The electric car maker said it changed its investment policy last month to allow it more flexibility to “diversify and maximize” returns on liquidity, and then made its massive investment in digital currency.

He said “We have invested a total of $ 1.5 billion in bitcoin under this policy and we can acquire and hold digital assets from time to time or in the long term”.

Standard height This announcement prompted Bitcoin to rise to a new record high of $ 44,100.Bitcoin has been in business strongly since last year, despite concerns about a growing bubble in the cryptocurrency, as it has increased in value nine times since its collapse in March of last year.

Tesla also stated that it expects to accept Bitcoin as a payment method for its products soon.

The automaker is the latest consumer-facing company to enter the cryptocurrency market, after PayPal.

“The announcement by Tesla could spur more demand,” Wedbush analysts said. “Investors and other industry watchers will watch this closely to see if other companies are following Tesla’s example in this cryptocurrency pathway or staying the same,” said Wedbush analysts.

Source: Al-Qabas

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