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Home » Bitcoin to approach $50,000 mark, after $1.5 billion investment of Elon Musk’s Tesla
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Bitcoin to approach $50,000 mark, after $1.5 billion investment of Elon Musk’s Tesla

Kshitij ThakurBy Kshitij ThakurFebruary 9, 2021Updated:February 9, 20217 Comments1 Min Read
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Famous cryptocurrency “Bitcoin” is on verge of approaching the $50,000 mark after Elon Musk said Tesla has invested $1.5 billion in it, in a filing with the US Securities and Exchange Commission on Monday.

The most popular cryptocurrency has leaped 20 percent after Tesla’s announcement, making it the largest daily rise in more than three years. And as of writing price of a single bitcoin peaked at an all-time high of $48,226 (which is almost enough to buy, Tesla Model Y SUV) and with an all-time low of $42,566 (Musk effect baby).

Bitcoin All-time high
Credit: CoinDesk

In addition to its announcement on Monday, Tesla has also said that it sees its Bitcoin holdings as highly liquid and that it may acquire and hold digital assets “from time to time or long-term.” And that cryptocurrency could be a method of payment for its products in the near future.

Elon Musk a well-known supporter of cryptocurrencies, said earlier this month on the Clubhouse that he was a supporter of Bitcoin and that it was on the verge of “getting broad acceptance by conventional finance people.”

How it started, How it’s going

A #bitcoin story in two acts. pic.twitter.com/HCrm7cNdNY

— Brad Michelson (@BradMichelson) February 9, 2021

Bitcoin Cryptocurrency Elon Musk Internet Tesla
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Kshitij Thakur

The heavy Sniper, Kshitij is the marksman of the team Craffic. He joined the team in 2018 and his continuous hard work and dedication to the work has made his precision in work unmatched. Kshitij has experience in editing the work of others to foster stronger bonds with fellow authors and working together to improve each other's work.

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