{"id":4160,"date":"2021-02-08T08:38:59","date_gmt":"2021-02-08T14:38:59","guid":{"rendered":"https:\/\/evglobe.com\/?p=4160"},"modified":"2021-02-08T08:38:59","modified_gmt":"2021-02-08T14:38:59","slug":"tesla-accept-bitcoin-as-currency","status":"publish","type":"post","link":"https:\/\/evglobe.com\/2021\/02\/08\/tesla-accept-bitcoin-as-currency\/","title":{"rendered":"Tesla buys $1.5 billion in Bitcoin, will accept the cryptocurrency as payment"},"content":{"rendered":"<p>Elon Musk has made it clear he\u2019s a fan of cryptocurrency, up to the point he even had a #bitcoin hashtag included in his Twitter bio last month. The 49-year-old businessman is now expressing his support for bitcoin in a greater way by announcing Tesla has already purchased $1.5 billion in bitcoin, as revealed in an <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1318605\/000156459021004599\/tsla-10k_20201231.htm\" target=\"_blank\" rel=\"noopener noreferrer\">SEC filing<\/a>.<\/p>\n<p>Following the announcement, it didn\u2019t take too long for the cryptocurrency to hit an all-time high of nearly $44,000 per unit, at the moment of writing. Further signaling Musk\u2019s affinity for cyrptocurrency is the decision taken by Tesla to accept bitcoin as a form of payment \u201cin the near future\u201d per the same SEC filing.<\/p>\n<p>According to the same document, Tesla points out the introduction of cryptocurrency as a type of payment makes the company\u2019s financial situation exposed to greater volatility than before. The flip side is the EV brand has \u201cmore flexibility to further diversify and maximize returns on our cash.\u201d<\/p>\n<p>Attached below is an excerpt from the SEC filing related to Tesla&#8217;s decision to purchase $1.5 billion worth of bitcoing and the plan to recognize the cryptocurrency in the near future as a form of payment.<\/p>\n<p id=\"AADNkP\">&#8220;In January 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, we may invest a portion of such cash in certain specified alternative reserve assets.<\/p>\n<p id=\"saCo1b\">Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, 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.<\/p>\n<p><em>Source: <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1318605\/000156459021004599\/tsla-10k_20201231.htm\" target=\"_blank\" rel=\"noopener noreferrer\">United States Securities and Exchange Commission (SEC)<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk has made it clear he\u2019s a fan of cryptocurrency, up to the point he even had a #bitcoin hashtag included in his Twitter bio last month. The 49-year-old businessman is now expressing his support for bitcoin in a greater way by announcing Tesla has already purchased $1.5 billion in bitcoin, as revealed in [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4004,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3],"tags":[24],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla buys $1.5 billion in Bitcoin, will accept the cryptocurrency as payment<\/title>\n<meta name=\"description\" content=\"A filing with the United States Securities and Exchange Commission (SEC) shows Tesla has purchased $1.5 billion in bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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