• Bitcoin price surges above $40,000
The world richest man and Chief Executive Officer of American electric vehicle company, Tesla, Elon Musk has invested a whopping 1.5 billion US dollars into bitcoin cryptocurrency. The announcement came a little after Elon musk updated his Twitter bio to “Bitcoin”.
The Tesla CEO noted that his company is still considering accepting Bitcoin as legal means of trade and exchange in the near future.
“We hope to begin accepting Bitcoin as a means of payment for our product in the near future, subject to applicable laws and initially on a limited basis” he said.
After updating its investment policy last month, the electric car dealer said he decided to allow the company to invest in digital assets ad well as gold builliion and gold exchange traded funds.
As a result, the Bitcoin crypto currency experienced a record breaking surge in less than twenty fours hours, as the crypto currency experienced a 10% upward increase to worth over $40000 per coin.
Ifesinachi Nnabugwu reporting, Obinwanem News
