Tesla (NASDAQ: TSLA), an American EV and clean energy company, announced significant Bitcoin measures the company is taken. In an SEC filing, the company noted that it may invest in alternative reserve assets such as digital assets, gold bullion, gold exchange-traded funds and other assets. Consequently, the company invested $1.5 billion in Bitcoin; the company also noted that it may acquire and hold additional digital assets. In addition, Tesla noted that it expected to begin accepting Bitcoin as a form for payment for its products, initially on a limited basis. The company plans to make that change in the near future, subject to applicable laws. Following the announcement, Bitcoin traded higher, reaching an all-time high above the $42,000 level. “I do at this point think Bitcoin is a good thing, and I am a supporter of Bitcoin,” Tesla founder and CEO Elon Musk was quoted in the article. “ “Many friends of mine have tried to convince me to get involved in Bitcoin for a long time. . . . I think Bitcoin is really on the verge of getting broad acceptance by conventional finance people.”
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About Tesla Inc.
Tesla is an American electric vehicle (“EV”) and clean energy company based in Palo Alto, California. The company specializes in electric vehicle manufacturing, battery energy storage from home to grid scale and, through its acquisition of SolarCity, solar panel and solar roof tile manufacturing. For more information, visit www.Tesla.com.
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