Tesla invests 1.5 billion in bitcoins and will accept it as a means of payment

The bitcoin has risen more than 12%, reaching a new all-time high above $43,700. This is the result of Elon Musk's company announcing that it has invested 1.5 billion in the cryptocurrency and that it will begin to accept the cryptocurrency as a form of payment.

"As part of the policy, we may invest a portion of our cash in certain alternative reserve assets. For example, digital assets, gold bullion and gold exchange-traded funds. As of then, we invested a total of 1.5 billion in bitcoin. In addition, we expect to start accepting bitcoins as a form of payment for our products in the near future," the company said.

Tesla has thus become the second company with the second largest allocation in bitcoinonly behind MicroStrategy and ahead of Galaxy Digital. That one of the most influential companies in the world, owned by mass idol Elon Musk has bet on the currency is a massive sign of support for the cryptocurrency, which has been criticized on numerous occasions for being linked to money laundering and fraud and on which has always weighed a high level of distrust and uncertainty by many investors.

To be taken into account

Elon Musk has on several occasions shown his support for cryptocurrency through his statements and has even gone so far as to raise the option of passing part of the company balance sheet to bitcoins, but words have finally given way to deeds.

"For the richest man in the world to make this allocation speaks volumes about the magnitude of institutional adoption of cryptocurrencies. Tesla has now paved the way," says Antoni Trenchev, co-founder of Nexo. The expert adds that he expects at least the 10% of S&P 500 companies invest in bitcoin by the end of 2022.