While Nigeria bans cryptocurrencies, Tesla buys bitcoin big
The electric car maker says it will start accepting payments in bitcoin for its products.
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At a time the Nigerian government is banning cryptocurrency-related transactions, the electric car maker, Tesla, has revealed it bought $1.5 billion worth of bitcoins.
The company said in a filing with the United States’ Securities and Exchange Commission, on Monday that it bought bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
The company, owned by the world’s richest man, Elon Musk, said it will start accepting payments in bitcoin for its products. It, however, warned investors of the volatility of the digital currency.