Tesla buys $1.5B of Bitcoin — pushing its price to record-breaking levels

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Tesla has bought $1.5 billion worth of Bitcoin according to an SEC filing. This news has caused Bitcoin’s value to rise over 10%. At the time of writing, bitcoin’s price was over $42,000. In the filing, the company said that it may acquire and hold digital assets from time to time or long-term: 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, which was duly approved by the Audit Committee of our Board of…

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