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.
Related News
- Bitcoin price rises above $35,000 for the first time
- The cryptocurrency revolution: How Europe could take the lead in the ‘money of the future’
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