Elon Musk Tesla, Buys $1.5 Billion Worth Of Bitcoin
Bitcoin Ban in Nigeria: Tesla (TSLA) revealed in a securities filing that the electric car company has purchased $1.5 billion worth of Bitcoin and expects to accept the cryptocurrency for its products in the future.
“In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy,” the company wrote in a 10-K filing with the SEC.
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