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).
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.”