Bitcoin Prices Soar After Tesla Reveals<br />$1.5 Billion Stake in Cryptocurrency .<br />On Monday, Bitcoin’s price soared 15 percent<br />higher, spiking at around $44,000.<br />The cryptocurrency’s sharp jump was due<br />to Tesla’s same-day announcement that it had<br />bought $1.5 billion worth of Bitcoin. .<br />In a filing with the Securities and Exchange Commission,<br />Tesla said they did so to create “more flexibility to<br />further diversify and maximize returns on our cash.” .<br />Tesla also said that in the future, they “expect” to invest<br />in digital assets and accept Bitcoin as a form of payment. .<br />We expect to begin accepting bitcoin<br />as a form of payment for our products<br />in the near future, subject to applicable<br />laws and initially on a limited basis. , Tesla, via CNBC.<br />According to Wedbush analyst<br />Dan Ives, Tesla’s investment will have<br />a “ripple effect” across the globe. .<br />[Their stake] will have a ripple effect<br />across corporations around the<br />global … [It is a] potential game<br />changing move for the use of bitcoin<br />from a transactional perspective, Dan Ives, via CNBC.<br />Tesla’s investment is just the latest sign that<br />cryptocurrency is becoming widely embraced. .<br />Fidelity Investments, Square and PayPal<br />announced last year that they would allow their<br />customers to utilize the digital asset.
