Investing
Bitcoin Surges to Almost $45,000 After Tesla Discloses Purchase
- Move follows MicroStrategy, Square in purchasing crypto
- Ether climbs to record high; Musk also boosts Dogecoin
This article is for subscribers only.
Bitcoin surged to an all-time high after Tesla Inc. said it’s invested $1.5 billion, the biggest endorsement of the controversial cryptocurrency by a mainstream company.
The digital asset jumped as much as 16% after Tesla made the disclosure in a regulatory filing, with prices exceeding $44,000 for the first time. Tesla also said it would begin accepting the digital token as a form of payment for its electric cars. Other coins surged as well. Ether gained as much as 11% to a record and Litecoin rallied a similar amount Monday in New York, according to data complied by Bloomberg.