Electric vehicle company Tesla has acquired $1.5 billion worth of Bitcoin. According to a with the US Securities and Exchange Commission (SEC) on the 8th of February, Tesla is now the first S&P 500 company to invest in Bitcoin.
In the filing, Tesla said it updated its investment policy earlier this year, which was approved by the Adult Committee of the company’s Board of Directors. The updated policy allows Tesla to invest a portion of its cash in digital assets, gold bullion, gold exchange-traded funds, and other assets.
Tesla also announced that it may begin to accept Bitcoin as a form of payment in exchange for its products. The filing revealed:
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