The electric-car company disclosed the investment in a filing, where it also said it plans to accept payments in the form of the digital currency. The news sent the price of Bitcoin soaring above US$44,000 at its peak Monday, yet another record high after it more than quadrupled in value over the past year. (Bloomberg)
Skip to content
The electric-car company disclosed the investment in a filing, where it also said it plans to accept payments in the form of the digital currency. The news sent the price of Bitcoin soaring above US$44,000 at its peak Monday, yet another record high after it more than quadrupled in value over the past year. (Bloomberg)
Talking point: The investment provides even more mainstream legitimacy to Bitcoin, despite the censorship-resistant, anti-central-bank origins of the project. Tesla chief executive Elon Musk has made no secret of his affinity for Bitcoin, tweeting about it favourably over the years. The Bitcoin community loves Musk right back, taking to social media to cheer the transaction on via memes and rocket-ship emojis. (For an extreme example of Bitcoin-Tesla love, take this man, who built a system for charging his car by making micropayments over the cryptocurrency network.) Tesla investors seemed to welcome the news, as well, sending the company’s shares up as much as three per cent Monday morning, but they might be less impressed when the notoriously volatile asset takes an inevitable plunge.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
U.S. private equity is buying Canada’s biggest payments processor. Some people are worried about sovereignty
Briefing
OMERS posts 4.8% first-half return, plans to increase Canada exposure
Brookfield joins investors group backing Nvidia’s US$500B AI financing push
Polar raises US$215M for second Canadian risk-transfer fund
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
