Bitcoin Sets a New all Time High of 44000 USD After Tesla announces 1.5B USD Bitcoin Purchase.

By: Michael Wilson

February 8, 2021 3:16 PM

On Monday, A filing with United States regulators confirms Tesla the largest automobile company is set to accept Bitcoin payments in the future.

BTC added $4,000 under 10 minutes on Feb. 8 shortly after reports circulated that Tesla is Holding $1.5B worth of Bitcoin.

According to data from Coinnewsafrica Markets and Coinmarketcap, the BTC/USD pair jumped to over $42,000 as the announcement of Tesla plans rippled in.

In a filing with U.S. regulator, the Securities and Exchange Commission (SEC) indicates that the company plans to buy $1.5 billion worth of BTC.

The filing reads:

"Jan. 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds, and other assets as it will be specified in the future,"

"Thereafter, we invested an aggregate $1.5B in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Additionally, we expect to begin accepting BTC as a form of payment for our shortly future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."

Elon Musk who has been warming the crypto bull run while tweeting about Dogecoin(Doge) confirmed in a recent session on clubhouse audio chat that he was a Bitcoin supporter.