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Bitcoin Passes $44K As Tesla Buys $1.5 Billion BTC - fordboyabseut48

Tesla announced today it purchased a whopping $1.5 billion in Bitcoin sending the price of the crypto moving. Ascertain what drove the leading car manufacturing business's decision and the impact on Bitcoin traders.

Bitcoin trading

Tesla Buys $1.5 Cardinal In Bitcoin

While go-to-meeting known for its state of the art cars, the American state-headquartered Tesla today made the news for publication inside information of its $1.5 cardinal Bitcoin purchase. The company also proclaimed it intends to starting line acceptive Bitcoin payments, which would make it the first major car manufacturer to accept the volatile cryptocurrency.

In documents filed with the Securities & Exchange Commission (SEC), Tesla explained the decision would provide "more flexibility to foster diversify and maximize returns along our hard currency."

Elon Musk On Bitcoin

Of track, this latest news adds to a strand of Bitcoin-related antics from the Tesla CEO who lonesome weeks ago was criticised for causing a spike in the price of Bitcoin and Dogecoin following supportive messages along Twitter. In fact, Musk added the hashtag #bitcoin to his Twitter bio just two weeks agone, a go by which is aforementioned to have caused a 20% increase in the price of the digital mint. Just two days later he posted on social media forum Clubhouse "I do at this aim think back Bitcoin is a good thing, and I am a athletic supporter of Bitcoin."

Tesla buys Bitcoin

Bitcoin Passes $44,000

Following Tesla's announcement, the cost of the crypto surpassed $44,000. Tesla shares also rose by 2.5% in premarket trading. The monetary value of Bitcoin has fluctuated significantly in recent months, spurred on by votes of assurance from the likes of Elon Musk.

For savvy traders, the market volatility means an opportunity to generate profits. Many top brokers are offer a battalion of powerful trading tools with competitive spreads and freehearted leverage levels. Naturally, investors should also be wary when trading Bitcoin as many of its peaks have been apace followed by troughs. Take a careful approach to risk management when trading Bitcoin and different cryptos.

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Show All Brokers ⇩

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