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Tesla buys $1.5 billion in Bitcoin, will accept as payment soon

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Washington, Feb 08: 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.

Tesla buys $1.5 billion in Bitcoin, will accept as payment 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.

Tesla CEO Elon Musk confirms India entry, opens unit in BengaluruTesla CEO Elon Musk confirms India entry, opens unit in Bengaluru

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.

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