Source Code: Your daily look at what matters in tech.

source-codesource codeauthorAnna KramerNoneWant your finger on the pulse of everything that's happening in tech? Sign up to get David Pierce's daily newsletter.64fd3cbe9f

Get access to Protocol

Will be used in accordance with our Privacy Policy

I’m already a subscriber

Tesla invests $1.5 billion in Bitcoin

Tesla purchased $1.5 billion in Bitcoin in January in one of the largest investments in cryptocurrency by a publicly traded company.

The purchase was made as part of a shift in investment policy. As part of the policy, the company may purchase or hold "digital assets" such as Bitcoin "from time to time or long-term," according to a new SEC filing. The company also plans to begin accepting Bitcoin as a form of payment, according to the filing.

"In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity," the company wrote in the filing.

Latest Stories