Elon Musk knew why he started promoting Bitcoin, Tesla invested $ 1.50 billion in Bitcoin in January

Elon Musk knew why he started promoting Bitcoin, Tesla invested $ 1.50 billion in Bitcoin in January
The unusual promotion of Bitcoin by Elon Musk is revealed after the publication of the SEC document.

The whole crypto world was excited after Elon Musk changed his twitter bio to #bitcoin on January 29, but at the same time the question arose as to what is behind this behavior.

In the end, we didn’t have to wait long to decipher this case, and after today’s release of the SEC report that Tesla invested $ 1.50 billion in Bitcoin in January, it’s clear to everyone. In an official report, Tesla justifies this investment as part of a new investment policy that allows them to now invest in specific and alternative reserve assets.

, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

Tesla, Inc.

Tesla not only has invested a considerable amount in Bitcoin but also plans to accept Bitcoin as a payment method for its products in the near future.

The price of Bitcoin responded to these reports immediately and BTC reached a new ATH of $ 44,112 (CMC).

Read also: Institutions are quietly increasing their investment in Bitcoin

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