Tesla Jumps on the Bitcoin Rocketship

9 Feb, 2021 CryptoParrot

It was inevitable. After multiple demonstrations of support and proximity by its CEO Elon Musk, yesterday Tesla chipped in with a massive investment in Bitcoin.  

Last Monday, in a Securities and Exchange Commission filing, the electric car company declared a massive Bitcoin acquisition of over $1.5 billion. Moreover, the company also said it will start accepting BTC as a payment form "on a limited basis". The move puts Tesla at the forefront of the auto industry, by being the only company on the market accepting Cryptocurrency as payment.  

With this reaction, the market reacted accordingly, pumping Bitcoin's value by over 20%, reaching a new all-time high, and aiming for the $50k level, after a lackluster few weeks following the massive rally towards the end of 2020. 

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CryptoParrot

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