Elon Musk’s Tesla Motors is following in the footsteps of MicroStrategy and other companies by allocating part of its balance sheet to Bitcoin (BTC). In Monday’s filing with the Securities and Exchange Commission, the company announced it had purchased an aggregate of $1.5 billion in Bitcoin, to be held as an investment and store of value for its excess cash. It is currently unknown what is the average purchase price and number of BTC the company acquired. Tesla's investment policy has been updated at an unspecified point in January 2021, which suggests that Tesla may be holding between 35,900 and …

Bitcoin (BTC) jumped by almost $3,000 in minutes on Feb. 8 as reports emerged that Tesla had bought $1.5 billion worth of BTC. BTC price soars above $43,000 Data from Cointelegraph Markets and TradingView tracked BTC/USD as a sudden spike to over $41,000 appeared as news of Tesla's plans trickled in. A filing with United States regulator the Securities and Exchange Comission (SEC) shows that the company plans to buy $1.5 worth of Bitcoin. Related: Tesla expects to begin accepting Bitcoin for payment "In January 2021, we updated our investment policy to provide us with more flexibility to further diversify …

The effect of celebrity tweets on the cryptocurrency market has become a topic of study for researchers after a week in which Elon Musk triggered sizable price surges for both Bitcoin (BTC) and Dogecoin (DOGE). Blockchain Research Lab published a paper on Jan. 3 titled, How Elon Musk’s Twitter activity moves cryptocurrency markets. The paper looks at six occasions when Elon Musk tweeted about cryptocurrency and attempts to measure the resultant impact on the trading volume and spot price of the coins in question. “We investigate the impact of Elon Musk's Twitter messages on cryptocurrency markets. By applying event study …

Tim Draper, the billionaire Bitcoin (BTC) investor who also invested early in Tesla, reacted to the company's CEO and world's richest man, Elon Musk, adding #Bitcoin to his Twitter bio to join the likes of Twitter CEO Jack Dorsey and Reddit co-founder Alexis Ohanian. Draper, who holds around 30,000 BTC according to reports, told Musk that he would like to pay for the Tesla cybertruck with BTC while promoting his Bitcoin payment processor portfolio company OpenNode. He said: “Hi Elon Musk, I would like to buy a Tesla cybertruck. Although I personally would rather keep my own #bitcoin, you can …

When the richest man in the world, Elon Musk, updated his Twitter bio on Friday — simply adding the word "Bitcoin" — it was followed by a near-immediate 13% increase to the Bitcoin (BTC) spot price. Musk’s bio appeared to be updated on Friday morning and was followed by a cryptic tweet that referred to the inevitability of... something. In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021 Tweeted at 8:22 am UTC, Musk’s 43 million followers apparently took notice. Some assumed the tweet was a reference to the Dogecoin (DOGE) price surge that was ignited by …

Since Jan. 22 GameStop has been attracting a lot of attention from the mainstream news as the stock (GME) for the popular video game retailer rallied 860% from $17.40 on Jan. 4 to a high of $159.18 on Jan. 25. On Jan. 25 GME pulled back 51.70% from its high to close the day at $76.79 but what lies behind the massive upsurge warrants closer inspection. While solid fundamentals often lead to price breakouts in both stocks and cryptocurrencies, the recent interest in GameStop appears to have more to do with the ‘Reddit army’ phenomenon which has seen internet groups …

Elon Musk, CEO of SpaceX and Tesla, has surpassed the net worth of Amazon founder Jeff Bezos. “Elon Musk has become the world's richest person, as his net worth crossed $185bn (£136bn),” the BBC reported on Thursday. The futuristic businessman gained staggering wealth last year. “Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people,” CNBC noted on Thursday, adding: “Tesla’s rocketing share price — which has increased more than ninefold over the past year — along with his generous pay package have added more than $150 billion to his net worth.” After the …

Bitcoin (BTC) hodlers can now all own a Tesla electric car — as long as they have at least 1 BTC in their wallet. As BTC/USD crossed $34,000 at the weekend and went on to hit $35,600 on Jan. 6, the brainchild of Elon Musk became more affordable than ever. 2021 exchange rate: 1 BTC = 1 Tesla As per pricing on Tesla's official website, the company's entry-level offering, the Model 3, retails at $33,960 in the United States if no environmental fuel rewards are applied. Musk, who has long taunted Bitcoiners with tweets and comments which leave it unclear …

Since Satoshi Nakamoto mined the first Bitcon block on Jan. 3, 2009, the crypto asset has led to substantial gains for investors given its meteoric rise in the last week alone. The price of Bitcoin (BTC) reached parity with the U.S. dollar almost ten years ago today, a milestone lauded by many as another step towards adoption. With Bitcoin currently fluctuating between $32,000 and $34,000, however, the price of the cryptocurrency is now the same as that of a Model 3 Tesla, which retails for upwards of $30,000. A #bitcoin now buys you a Tesla. So, when will you accept …

Bitcoin (BTC) has wowed investors with all-time highs and year-to-date returns of over 200% — but there are stocks that still beat it. As of Dec. 22, markets' data shows that no fewer than five companies’ stocks have given investors better rewards than a Bitcoin position since the start of 2020. Peloton Interactive Inc. First pitting itself against Bitcoin and winning is an unlikely success story — fitness equipment manufacturer Peloton Interactive. At 384% annual returns, $PTON has delivered significantly thanks (most likely) to lockdowns forcing consumers to work out at home instead of at the gym or outside. The …

Major cryptocurrency derivatives exchange FTX has launched trading in “fractional stocks offerings” — tokenized products representing the shares of global firms. The products were launched on Oct. 29 in partnership with German-licensed investment Firm CM-Equity and tokenization firm Digital Assets AG. More than one dozen equity and crypto pairings are available for trade on FTX, including fractionalized Tesla (TSLA), Apple (APPL), and Amazon (AMZN) derivatives. Fractionalized ownership lets the derivatives be broken down into smaller sizes than whole units, allowing retail traders to speculate on expensive stocks like Tesla’s with less capital. “These products demonstrate a powerful future, in which …

It’s been a good week for the crypto markets. Bitcoin finally burst through the $11,000 ceiling, and kept going. According to some experts, the coin could be on its way to a full 2017-style bull run. Other analysts have identified five events that could move the markets this week, including the election’s effect on the dollar, Europe’s struggles with Brexit and the coronavirus, and Bitcoin’s high hash rate. The investment experts at Stone Ridge Asset Management have been paying attention. After executives had made personal investments in cryptocurrencies, the company created a billion-dollar spinoff with a $115 million investment in …