Tesla invests $ 1.5 billion in Bitcoin and hopes to accept it as a form of payment soon

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  • Tesla has stated that it hopes to accept Bitcoin as a form of payment in the near future.
  • Tesla has invested a total of $ 1.5 billion in Bitcoin, according to its annual report.

According to the official Form 10-K annual report of the United States Securities and Exchange Commission, Tesla has invested a total of $ 1.5 billion in Bitcoin and expects to accept the digital asset as a payment option in the near future..

In January 2021, we updated our investment policy to give us more flexibility to further diversify and maximize returns on our cash that are not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets, including digital assets, gold bars, publicly traded gold funds, and other assets as specified in the future. Since then, we invested a total of 1.5 billion dollars in Bitcoin under this policy and we may acquire and hold digital assets from time to time or over the long term. Furthermore, we hope to begin accepting bitcoins 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 settle once received.

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