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(Reuters) - Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk’s electric vehicle company Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher.
The announcements, buried deep in Tesla’s 2020 annual report, drove a roughly 20% surge in the world’s most widely held cryptocurrency to over $47,000. At current prices, 0.8 bitcoins would be enough to buy an entry-level Tesla Model 3.
Investors anticipated other companies will soon join a list of firms that invest in or hold bitcoin including BlackRock Inc, the world’s largest asset manager, and payments companies Square and PayPal.
Analysts said it could help accelerate a move for bitcoin move towards the mainstream that has seen both Paypal, also co-founded by Musk, and huge global money manager BlackRock move to accept the currency.
Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk’s electric vehicle company Tesla Inc revealed it had bought $1.5 billion (S$2 billion) of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher. The announcements, buried deep in Tesla’s 2020 annual report, drove a roughly 20.
Apple Should Launch Crypto Exchange, RBC Capital Markets Analyst Suggests
Feb 9 2021 · 09:35 UTC | Updated
Feb 9 2021 · 09:38 by Ibukun Ogundare · 3 min read
Photo: Depositphotos
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Stating that competition among crypto exchanges “is light,” the analysts suggested that Apple may be the solution to challenges in the crypto space.
An analyst at the brokerage firm RBC Capital Markets Mitch Steves suggested that Apple Inc (NASDAQ: AAPL) should launch its crypto exchange. Steves noted his suggestion in a report published on the 8th of February by the largest bank in Canada.
Since Tesla Inc (NASDAQ: TSLA) announced $1.5 billion worth of Bitcoin acquisition, it has raised several comments in the crypto community. The automaker revealed the BTC purchase in a filing with the US Securities and Exchange Commission (SEC). Apart from owning Bitcoin, Tesla plans to begin accepting Bitcoin as a form of payment in exchange for any of
Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk s electric vehicle company Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher.