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Bitcoin value reaches record high after Tesla investment

Tesla boss Elon Musk. Credit: Belga

The value of the Bitcoin increased to over $44,000 (over €36,500) after news broke that Tesla invested $1.5 billion (around €1.25 billion) in the cryptocurrency in January.

The investment was announced in a document sent to the United States Securities and Exchange Commission (SEC), the stock exchange’s watchdog.

The cryptocurrency has reached record heights in recent months, rising above $35,000 (over €28,000) in January. This is the first time since the currency’s creation in 2009 that the value has reached over $44,000.

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Tesla boss Elon Musk has influenced the course of the bitcoin multiple times. At the end of January, for example, the currency’s value increased to over $38,000 after he changed his Twitter biography to say “#bitcoin”.

Tesla is expected to start accepting Bitcoin as a payment method, according to the Bloomberg press agency.

Jason Spinks
The Brussels Times