Tesla buys Bitcoin worth $1.5 billion, plans to accept cryptocurrency as payment

New Delhi: Tesla announced Monday that it bought $1.5 billion worth of bitcoin and expects to start accepting the cryptocurrency as payment. This will make esla the first major automaker to accept bitcoin as payment.

“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,” the document filed by Tesla showed.

This automatically raised questions around CEO Elon Musk’s behavior on Twitter recent weeks where he has been promoting to increase the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages about them.

Prices for the Bitcoin surged to a record above $43,000 after the news.