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.
The Trump administration announced a trade deal with the United Kingdom Thursday in grandiose terms, but with only limited details about what it achieves.
R.J. Hottovy, Head of Analytical Research at Placer.ai, unpacks the recent changes at Starbucks and if the brand refresh has helped the business. Watch!
