Tesla bets on Bitcoin by betting $1.5 billion and accepting it as payment

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Tesla announced Monday that it has invested about $1.5 billion (€1.25 billion) in Bitcoin and is preparing to accept it as a means of payment for its cars, which triggered a new surge in the price of the most famous cryptomoney.

 

The general manager of the American electric car manufacturer Elon Musk, who has been supporting Bitcoin for a long time, said a few days ago that Bitcoin was “on the verge” of being more widely accepted by investors. In December, he had publicly questioned whether it could be used to settle large transactions.

 

On Monday, the price of Bitcoin was up more than 12% to $43,590 at around 14:30 GMT after a record $44,899.

 

I believe we are going to see an acceleration in the adoption of Bitcoin by companies now that Tesla has taken the first step. We’re pleased to be working with Messari“, said Eric Turner, vice president of Messari, a firm specializing in cryptoactives research and data.

 

One of the largest companies in the world now owns Bitcoin and by extension every Tesla shareholder (or even an S&P-500 fund) is also exposed to it“.

 

Bitcoin has also gained recognition in recent months among major financial institutions: Blackrock, the world’s leading asset manager, for example, has changed the rules applicable to some of its funds to allow them to invest in the best known cryptosystems.

 

Central banks, for their part, continue to show their skepticism regarding the growth of this type of asset. Christine Lagarde, the president of the European Central Bank (ECB), judged on Sunday that Bitcoin was “a speculative asset” and not a currency.

 

In a document made public Monday, Tesla explains that its investment in Bitcoin is part of its overall investment policy and aims to diversify and optimize the management of its liquidity.

 

It adds that it is likely to “acquire and hold digital assets from time to time or over the long term”.

 

Last week, Elon Musk supported the dogecoin, another cryptoactive company whose share price also set a record in the process, via Twitter.

 

Read also > THE ECONOMIC BOOM OF THE AMERICAN COSMETICS GROUP ESTEE LAUDER

 

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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