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Bitcoin Hits New Record High Over $43K on Tesla News

On February 8, Bitcoin soared by almost $3,000 in minutes when it emerged that Tesla had purchased BTC worth $1.5 billion.

As news of Tesla’s intentions trickled in, data from Cointelegraph Markets and TradingView followed BTC/USD as a rapid jump to over $41,000 occurred.According to cointelegraph.com, afiling with the Securities and Exchange Comission (SEC) United States regulator reveals that the firm plans to purchase Bitcoin worth $1.5.”

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, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future,” it states.”

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

The step follows promising signals from CEO Elon Musk, the wealthiest man in the world, who publicly announced last week that he was a Bitcoin “supporter” However after Musk deleted Bitcoin from his Twitter biography, but continued to tweet and promote Dogecoin

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