Tesla has acquired around 1.5 billion dollars (£1.09 billion) in Bitcoin under an investment policy at the electric car maker headed by Elon Musk.
It said it plans to begin accepting the digital currency as payment for vehicles soon.
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The California company revealed the new strategy in a filing with the US Securities and Exchange Commission on Monday, saying its investment in digital currency and other “alternative reserve assets” may grow.
Bitcoin spiked 14% and appeared to briefly hit a new all-time high.
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Shares of Tesla moved higher as well.
