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Tesla Reveals $1.5 Billion Investment in Bitcoin

Tesla Reveals $1.5 Billion Investment in Bitcoin

Tesla reveals a $1.5 billion investment in Bitcoin (BTC) made in January and allowed payments with the cryptocurrency.

In one of the most significant developments of the year for the flagship cryptocurrency, Tesla has revealed a $1.5 billion investment in BTC.

A statement from the SEC revealed that the company made the investment in Bitcoin in January as part of its “alternative reserve asset” investment strategy.

The electric vehicle maker invested in gold and BTC using “cash not needed to maintain adequate operating liquidity.”

Just last month, Tesla and SpaceX CEO Elon Musk posed a question on Twitter, asking if the flagship cryptocurrency could transact in particularly large volumes.

After a positive response, the company now joins Microstrategy, Bitcoin mining company Marathon Patent Group, and 16 other publicly listed businesses with BTC on their balance sheets.

Recently, Musk has frequently engaged with the crypto community on Twitter. While the world’s richest man is making waves with jokes about Dogecoin, his company’s money is in the crypto king.

Andrey Kunev

Reporter at CoinsPress

Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.

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