Bitcoin hits an all-time high of $ 43,000 as Tesla invests $ 1.5 billion in BTC

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Bitcoin (BTC) surged nearly $ 3,000 in minutes on Feb. 8 when reports emerged that Tesla had purchased $ 1.5 billion worth of BTC.

BTC / USD 1 hour candle chart (Bitstamp). Source: trade view

The BTC price rises above $ 43,000

Data from Cointelegraph Markets and TradingView was tracking BTC / USD when it suddenly surged to over $ 41,000 as news of Tesla’s plans arrived.

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A filing with the US Securities and Exchange Commission (SEC) shows that the company plans to buy $ 1.5 worth of Bitcoin.

Related: Tesla expects to accept bitcoin for payment

“In January 2021, we updated our investment policy to give us more flexibility to further diversify and maximize the return on our cash that is not required to maintain adequate operational liquidity. As part of the policy duly approved by the Audit Committee of On our board of directors, we may invest some of that cash in certain alternative currency reserves, including digital assets, gold bars, exchange traded gold funds and other assets as disclosed in the future, “it says.

“Thereafter, we have invested a total of $ 1.50 billion in Bitcoin under this policy and may acquire and hold digital assets from time to time or over the long term. Additionally, we expect Bitcoin to be accepted as payment for our products in the near future Subject to applicable law and initially on a limited basis, which we may or may not liquidate upon receipt. “

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The move follows encouraging signs from CEO Elon Musk, the world’s richest man, who openly stated last week that he was a “supporter” of Bitcoin. Since then, however, the signals have been mixed after Musk removed Bitcoin from its Twitter bio but continued to tweet and promote Dogecoin (DOGE).