Tesla Invests $ 1.5 Billion in Bitcoin

Tesla Invests $1.5 Billion in Bitcoin

Tesla’s board of directors, through the audit committee, has given the company the green light to invest in various financial assets, including bitcoin.

Tesla has invested $ 1.5 billion in bitcoin and will begin accepting virtual currency as a means of payment for the purchase of its cars, the group said on Monday.

In the wake of this announcement, the price of the virtual currency soared: it reached a new high at more than 43,000 dollars.

#bitcoin

The move comes days after Elon Musk, the boss of the electric vehicle maker, temporarily changed his Twitter mini-description to simply enter #bitcoin.

The announcement, made in a document sent Monday to the U.S. Stock Exchange Constable, the SEC, is a mark of confidence in the cryptocurrency that regulators around the world still believe is more of a financial asset used for illegal transactions like money laundering. silver.

Tesla explains that it recently changed its investment policy in order to diversify its sources of liquidity and gain flexibility in order to be able to largely remunerate its shareholders.

In this context, the board of directors, via the audit committee, gave the green light to the company to invest in various financial assets, including bitcoin.

Bitcoin as a means of payment to buy a Tesla

In addition to this own investment, Tesla “will begin to accept bitcoin as a means of payment when purchasing its products in the near future,” said the group.

Virtual currency created by anonymous people and managed by a decentralized network is particularly volatile and its price is not always easy to determine.

This volatility and the anonymity it provides to its users are not well received by the authorities, who call for stricter regulation.

Janet Yellen, Joe Biden’s new Treasury secretary, warned during his great confirmation oral in the US Senate that cryptocurrencies were “mainly used” for the financing of illicit activities and that they represented a “particular concern” .

The US government, she added, needs to look at ways to limit their use and make sure they don’t become a way to launder dirty money.

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