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Tesla Bets on Bitcoin in Blue-Chip Boost to Cryptocurrency (3)

Feb. 8, 2021, 6:38 PM

The world’s leading electric-car maker is getting behind the the world’s largest electronic currency.

Tesla Inc. invested $1.5 billion in Bitcoin and signaled its intent to begin accepting the cryptocurrency as a form of payment, sending prices to a record after the vote of confidence from the EV leader and recent stock-market darling.

Chief Executive Officer Elon Musk’s Palo Alto, California-based manufacturer said in a filing Monday it made the bet on Bitcoin after updating its investment policy last month to allow it to buy digital assets.

Guy Johnson and Alix Steel on “Bloomberg Markets.”
Source: Bloomberg)

“We expect to begin accepting Bitcoin as a form of payment ...