On Tuesday, the price of bitcoin increased to$48,000, the highest price it has touched ever in its history.
This sudden price rise came after the EV giant Tesla announced that they have bought Bitcoins worth $1.5Bn and soon they will be accepting Bitcoin as a mode of payment for their cars.
The investment of $1.5Bn surged the prices of the cryptocurrency by almost 20% to $48,000.
For the knowledge of our readers, in Indian Rupees, $48,000 is equivalent to Rs.35 lakhs.
Notably, one Tesla car costs around $48,000.
“We updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,” the document filed by Tesla said.
“We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” the document also said.