Tesla buys bitcoin worth $1.5 billion : Will it accept as payment too ?

 

As per one of the economic times report , Tesla bought bitcoins worth $1.5 billion in January 2021 after the company updated its investment policy to invest in digital assets, a filing with the Securities Exchange Commission showed.

According to a Bloomberg report, the price of the digital asset jumped as much as 16% with prices nearing nearly $45,000 for the first time.

Reports suggests the company said “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,” in its filing.

There are also reports that the company said “We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” 

The price of one bitcoin as of today is 34,16,152 INR, However the Indian government is planning to introduce a bill to ban the crypto-currencies in India. Few reports also suggests that India could introduce it's own digital currency backed by blockchain.

There is a lot of pump(steep increase in price) seen over the last month in Bit-coin and other alt coins, Doge being one of it which saw more than 100% increase in its value after Elon Musk tweeted about it.