Elon Musk is serious about crypto as Tesla puts $1.5 billion in bitcoin

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(Yahoo Finance)

Elon Musk is serious about cryptocurrency.

On Monday, Musk moved from jokey tweets to major investments when Tesla disclosed in an SEC filing that the company invested $1.5 billion in bitcoin in January, and aims “to begin accepting bitcoin as a form of payment for our products in the near future.”

This amounts to 10% of Tesla’s cash reserves, and is the largest corporate purchase of bitcoin ever.

Bitcoin (BTC) spiked 14% on the news to a new all-time-high above $44,000, and Tesla (TSLA) shares jumped 2%.

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