Elon Musk’s company, Tesla, reported to SEC that it received $ 1.5 billion in BTC in January by filling Form 10-K. As soon as the news broke out, the BTC price rose to a new ATH.
Elon Musk’s company, Tesla, in a huge turn of events for the entire Bitcoin community, filed with the SEC and announced that the company had purchased $ 1.5 billion worth of Bitcoin this January, rocketing the BTC price.
The bitcoin price rose to an all-time high and the uptrend continues as a SEC file revealed that Tesla purchased $ 1.5 billion of BTC in January.
The text of the paper is as follows:
In January 2021, we updated our investment policy to give us more flexibility to further diversify and maximize our non-essential cash returns to maintain adequate operating liquidity. As part of the policy duly approved by the Audit Committee of our Board of Directors, we may invest some of this cash in certain alternative reserve assets, including digital assets, gold bullion, gold exchange-traded funds and other specified assets. in the future. After that, we invested a total of $ 1.5 billion in bitcoin under this policy, and we can acquire and hold digital assets from time to time or over the long term. We also hope to start accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not be able to liquidate upon receipt.