Tesla has invested $1.5 billion into Bitcoin cryptocurrency. The announcement came via an SEC filing in which Tesla also states it will accept Bitcoin as payment for its products. News of the investment comes amid high interest in Bitcoin from founder and CEO Elon Musk on Twitter.
The SEC filing does not disclose when Tesla will begin accepting Bitcoin payment aside from stating “in the near future.” In recent months Tesla enthusiasts and customers have been calling on the company to accept the cryptocurrency as payment. Tesla says it may hold or liquidate Bitcoin payments upon receipt from customers.
News of Tesla’s acceptance of Bitcoin caused Bitcoin value to skyrocket past $43,000, an all-time high. While Bitcoin has seen steady increases as mainstream and retail investors begin to accept it, its value remains volatile. Just a few weeks ago it was trading around $30,000. Many spikes in its value have been credited by Musk tweets, which is a trend also noticed in trading fellow cryptocurrency Dogecoin.