Tesla has acquired around $1.5 billion in Bitcoin under an investment policy at the electric car maker headed by Elon Musk, and it plans to begin accepting the digital currency as payment for vehicles soon.
The California company revealed the new strategy in a filing with the U.S. Securities and Exchange Commission early Monday, saying its investment in digital currency and other “alternative reserve assets” may grow.
Bitcoin spiked 14% and appeared to briefly hit a new all-time high. Shares of Tesla moved higher as well.
In its fourth quarter earnings report last month Tesla said it had cash and cash equivalents of $19.4 billion.
According to an EU tax watchdog, a 2021 agreement aimed at weakening tax havens and getting multinational corporations to pay minimum tax has been weakened by loopholes.
JetBlue officials say a plane rocked back with its nose pointed skyward after landing at New York's John F. Kennedy International Airport because of a shift in weight on the aircraft.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Rivian, Costco, Nokia, Wyndham Hotels & Resorts, Choice Hotels and Rite Aid
