In another day of awesome crypto news, Bitcoin hit a new all-time high of $44,801.87 on Monday, February 8th, 2021. The price surge followed an announcement from Tesla that the company had purchased $1.5 billion in Bitcoin for a variety of reasons.
Among other statements within Tesla’s SEC filing, they stated that they expect to begin accepting Bitcoin as a form of payment:
“We invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin 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 liquidate upon receipt.”
This news came well received in the market as Bitcoin witnessed a 14% surge today. The statement also follows a slew of announcements from multiple high-profile companies that point toward a major increase in acceptance of Bitcoin and cryptocurrencies as payment methods in the near-future. In the past months, other big players joined the cryptocurrency market including Fidelity Investments, Square, and PayPal.
Elon Musk continues to entertain the market with his tweets including a variety of DogeCoin based tweets which have effectively allowed Doge to hit a record high on Monday.
All-in-all we are happy and optimistic following the Tesla news and we expect Bitcoin to continue its surge as a $1.5 billion endorsement from a company of Tesla’s magnitude is no small feat for a currency that has been lambasted and ridiculed by naysayers in the past decade. Our analysts predict an upcoming move to $50K. Hold on tight!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
More from Bitcoin News
At the time of writing this, the Bitcoin price is sitting at $45,512. Here are the top 5 performing cryptocurrencies of the week …
It seems like the green days are gone for the cryptocurrency market. Since the end of last week, many events …
Recently, Bill Gates said he doesn't like Bitcoin for several reasons. In this article, we're going to see what are …