2/8, 1:55 PM (Source: TeleTrader)
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Musk's Tesla buys $1.5 billion in Bitcoin - SEC

Tesla Inc. revealed on Monday the company bought $1.5 billion worth of Bitcoin to ensure "more flexibility to further diversify and maximize returns on our cash," according to a filing with the Securities and Exchange Commission.

Furthermore, Tesla announced that it would start using Bitcoin as the payment method in exchange for its products as well. The filing comes amid Elon Musk’s social media campaign surrounding the surge of popular cryptocurrencies, including Bitcoin, Ether, Ripple's XRP and Dogecoin.

After the announcement, the price of Bitcoin surged 10.96% to $43,200, reaching a new record high.

Breaking the News / ND