Tesla bought $ 1.5 billion in bitcoins, according to an annual report sent by the company on Monday to the SEC, the United States Securities and Exchange Commission. As soon as the information became public, the price of the world’s largest cryptocurrency reached $ 44,000. In Real, the record was also broken with an increase of 11%.
According to the document, Tesla changed its investment policy in January this year with the aim of having more flexibility and maximizing cash returns. “As part of the policy, we can invest in certain alternative reserve assets, including digital assets, gold bars, gold exchange traded funds and others. After that, we invested a total of $ 1.50 billion in bitcoin according to this policy and we can acquire and maintain digital assets from time to time or for the long term “.
Thus, the company will be able to acquire more cryptocurrencies from time to time and states that “it hopes to start accepting bitcoin as a form of payment for products in the near future, subject to the application of the laws and initially on a restricted basis”.
Tesla CEO Elon Musk had previously shown interest in cryptocurrencies. In a tweet exchange, Musk asked MicroStrategy CEO Michael Saylor if he should convert “big transactions” from the Tesla balance sheet to Bitcoin. At the time, Saylor encouraged the billionaire. As of last month, Musk changed his Twitter bio to #bitcoin “and the price of the cryptocurrency rose 14% in less than an hour.