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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

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7 COMMENTS

  1. […] Bitcoin on Sunday had topped the $49,000 mark and was exchanging at $49,065 at the hour of documenting this report according to the information from CoinMarketCap. As of February 8, 2021, Bitcoin’s share in the $1.5 trillion market cap of 8,452 cryptographic forms of money all around the world was 60.99 percent while other driving coins including Ethereum, Tether, XRP, Cardano were settled with 15.49 percent, 2.42 percent, 1.59 percent, and 1.72 percent individually. Meanwhile, as the Indian government is looking to potentially boycott cryptocurrencies in the nation, Twitter CEO Jack Dorsey had declared on Friday a trust that would put resources into the improvement of Bitcoin with an underlying spotlight on Africa and India. […]

  2. […] After Tesla, now Square has made another big $170 million investment in the most popular cryptocurrency Bitcoin. The digital payments company and Twitter CEO Jack Dorsey revealed this news on Tuesday in its fourth-quarter earnings report. The company has purchased about 3,318 bit-coins, with an average price of $51,000 approx. […]

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